Certain Borrowing Base Matters Sample Clauses

Certain Borrowing Base Matters. (a) During the Forbearance Period, the Agent (at the direction of the Required Lenders) and the Required Lenders agree that the Agent will not (a) use its discretion under Section 8.1(ii) of the Loan Agreement to lower any advance rates set forth in the definitions of U.S. Borrowing Base or Canadian Borrowing Base as of the Effective Date, (b) implement any new discretionary category of Availability Reserves that is not in effect on the Effective Date pursuant to Agent’s authority under clause (g) of the definition of U.S. Availability Reserve or clause (e) of the definition of Canadian Availability Reserve set forth in the Loan Agreement or (c) implement any discretionary exclusion from eligibility under clause (r) of the definition of U.S. Eligible Accounts or clause (r) of the definition of Canadian Eligible Accounts (or any discretionary exclusion under any other clause of such definitions); provided, that the Agent may, and the foregoing limitations are without prejudice to the Agent’s rights to, make adjustments to the amounts of ineligibles and to amounts reserved under categories of Availability Reserves in existence on the Effective Date. (b) During the Forbearance Period (beginning April 4, 2018), the Borrower Agent shall deliver to the Agent by each Wednesday of each calendar week a Borrowing Base Certificate as of the end of the previous calendar week setting forth a roll forward of Accounts (billed and unbilled) from the most recently delivered Borrowing Base Certificate (but without adjustment to ineligibles and Availability Reserves). In addition, the Borrower Agent shall continue to deliver a full monthly Borrowing Base Certificate with all related reporting in accordance with Section 8.1 of the Loan Agreement.
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Related to Certain Borrowing Base Matters

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Execution of Loan Documents; Borrowing Base Certificate The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents, including, without limitation, the Borrowing Base Certificates and the Compliance Certificates. Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Agent shall have received evidence from Borrowers that the aggregate amount of Eligible Receivables and Eligible Inventory is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.