Collateral Value Determinations Sample Clauses

Collateral Value Determinations a. From and after the date of this Agreement, the initial Total Proved PV10% is $30,000,000.00, until redetermined pursuant to the terms of Section 3(b) or Section 3(c). b. Upon notice to LEI and at LEI’s expense, the Total Proved PV10% shall be redetermined by ▇▇▇▇▇▇ for each Determination Period on each Scheduled Collateral Value Determination Date, and each the redetermination shall be effective as of the date set forth in the notice. It is expressly understood that ▇▇▇▇▇▇ shall have no obligation to determine the Total Proved PV10% at any particular amount. c. In addition to the redeterminations of Total Proved PV10% required pursuant to Section 3(b) above, LEI shall have the right to request a special redetermination of the Total Proved PV10% at any time and from time to time, but not more than one time during any Determination Period. A special redetermination under this section shall be made by ▇▇▇▇▇▇ based upon the most recent Reserve Report delivered to ▇▇▇▇▇▇ by LEI and on any other reports and data that ▇▇▇▇▇▇ may reasonably request. If the special redetermination results in an Asset Coverage Deficiency, LEI shall comply with Section 2(c).