Common use of Changes in Borrowing Base Calculation Clause in Contracts

Changes in Borrowing Base Calculation. Each change in the Borrowing Base shall be effective upon receipt of a new Borrowing Base Report pursuant to Section 7.02(b); provided that any increase in the Borrowing Base reflected in such Borrowing Base Report shall not become effective until the fifth (5th) Business Day following delivery thereof and provided further that any change in the Borrowing Base as a result of the receipt of a new Acceptable Borrowing Base Appraisal pursuant to Section 4.07 shall be effective upon the date that Administrative Agent approves such appraisal, and any change in the Borrowing Base as a result of the admission of an Acceptable Property into the Borrowing Base pursuant to Section 4.03 shall be effective upon the date that such Acceptable Property is admitted into the Borrowing Base.

Changes in Borrowing Base Calculation. Each change in the Borrowing Base shall be effective upon receipt of a new Borrowing Base Report pursuant to Section 7.02(b8.02(b); provided that any increase in the Borrowing Base reflected in such Borrowing Base Report shall not become effective until the fifth (5th) Business Day following delivery thereof and provided further provided, further, that any change in the Borrowing Base as a result of the receipt of a new Acceptable Borrowing Base Approved Appraisal pursuant to Section 4.07 5.09 shall be effective upon the date that Administrative Agent approves and Required Lenders approve such appraisalApproved Appraisal, and any change in the Borrowing Base as a result of the admission of an Acceptable a Property into the Borrowing Base pursuant to Section 4.03 5.03 shall be effective upon the date that such Acceptable Property is admitted into the Borrowing Base.