Common use of Borrowing Base Shortfall Clause in Contracts

Borrowing Base Shortfall. Subject to the proviso contained in ------------------------ Section 9.01(j), at any time that a reduction in the Borrowing Base causes the sum of the aggregate amount of Revolving Loans then outstanding, plus the aggregate amount of Swing Loans then outstanding, plus the Dollar Equivalent of the aggregate L/C Liabilities then outstanding, less the amount of any L/C cover that shall have been provided and not yet returned to exceed the Borrowing Base then in effect (after giving effect to the aforementioned reduction), Borrower shall immediately prepay Swing Loans and the Revolving Loans (and/or provide cover for L/C Liabilities as specified in Section 2.10(d)), such prepayment to be applied, first, to the Swing Loans, second, to Revolving Loans outstanding ----- ------ and, third, as cover for L/C Liabilities outstanding as specified in Section ----- 2.10(d). If at any time following the provision of cover for L/C Liabilities pursuant to this Section 2.10(c) the Borrowing Base then in effect shall exceed the sum of the aggregate amount of Revolving Loans then outstanding, plus the aggregate amount of Swing Loans then outstanding, plus the Dollar Equivalent of the aggregate L/C Liabilities then outstanding, less the amount of any L/C cover that shall have been provided and not yet returned, Administrative Agent shall release and return to Borrower L/C cover in an amount equal to the lesser of (i) such excess and (ii) all such cover then held by Administrative Agent.

Borrowing Base Shortfall. Subject to the proviso contained in ------------------------ Section 9.01(j), at any time that a reduction in the Borrowing Base causes the sum of the aggregate amount of Revolving Loans then outstanding, plus the aggregate amount of Swing Loans then outstanding, plus the Dollar Equivalent of the aggregate L/C Liabilities then outstanding, less the amount of any L/C cover that shall have been provided pursuant to Section 2.10(d) and not yet returned to exceed the Borrowing Base then in effect (after giving effect to the aforementioned reduction), Borrower shall immediately prepay Swing Loans and the Revolving Loans (and/or provide cover for L/C Liabilities as specified in Section 2.10(d)), such prepayment to be applied, first, to the Swing Loans, second, to Revolving Loans outstanding ----- ------ and, third, as cover for L/C Liabilities outstanding as specified in Section ----- 2.10(d). If at any time following the provision of cover for L/C Liabilities pursuant to this Section 2.10(c) the Borrowing Base then in effect shall exceed the sum of the aggregate amount of Revolving Loans then outstanding, plus the aggregate amount of Swing Loans then outstanding, plus the Dollar Equivalent of the aggregate L/C Liabilities then outstanding, less the amount of any L/C cover that shall have been provided and not yet returned, Administrative Agent shall release and return to Borrower L/C cover in an amount equal to the lesser of (i) such excess and (ii) all such cover then held by Administrative Agent.