Confirmation of Borrowing Base Sample Clauses

Confirmation of Borrowing Base. The Lenders hereby confirm and agree that as of the date hereof the Borrowing Base has been determined to be Cdn.$235,000,000.
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Confirmation of Borrowing Base. The Borrower shall have delivered to the Agent a Borrowing Base Certificate for the period in which such Credit Event occurs; and
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Confirmation of Borrowing Base. Borrowers shall deliver to Lender and Agents its calculation of the Borrowing Base promptly after receipt of a Diligence Agent Certification from Diligence Agent, and otherwise at any time that the related Borrower is aware of any change in circumstances rendering the then-current calculation thereof inaccurate. Within one (1) Business Day after receipt of any calculation of the Borrowing Base by Borrowers, the Calculation Agent shall deliver to the Lender and Borrowers a Preliminary Report with respect thereto, as it deems appropriate. Promptly after receipt of a Preliminary Report each related Borrower shall resubmit its Borrowing Base calculations with any corrections required by such Preliminary Report (including an updated Property Schedule reflecting the removal of any Property which Diligence Agent has determined to not be an Eligible Property), and the foregoing process shall repeat until a Final Report is delivered by the Calculation Agent.
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Confirmation of Borrowing Base. The parties hereto confirm, agree and acknowledge that the Borrowing Base shall be deemed to be U.S.$190,000,000 until the next determination or re-determination thereof in accordance with the Credit Agreement.
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Confirmation of Borrowing Base. The Borrower Representative shall have delivered to the Administrative Agent each Borrowing Base Certificate required to have been delivered for the period immediately preceding the occurrence of such Credit Event. Each Credit Event shall constitute a representation and warranty by the Borrowers that on the date of such Credit Event, the statements in clauses (a) through (c) above are true and correct as of such date and that the actions required under clause (d) above have in fact been taken as of such date.
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Confirmation of Borrowing Base. Each of the parties hereto acknowledges and agrees that, effective as of March 26, 2002, the Borrowing Base was increased pursuant to the provisions of Section 2.8.3(ii) from $275,000,000 to $300,000,000, which increased Borrowing Base shall remain in effect until the Borrowing Base shall be redetermined in accordance with Section 2.8 of the Credit Agreement. Each of the parties hereto further acknowledges and agrees that the foregoing increase in the Borrowing Base shall not constitute a special optional redetermination of the Borrowing Base pursuant to Section 2.8.3(i) of the Credit Agreement.
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Confirmation of Borrowing Base. The Borrower shall have delivered to the Administrative Agent each Borrowing Base Certificate required to have been delivered for weekly period immediately preceding the occurrence of such Credit Event or, in the event that daily reporting of the Borrowing Base Certificate is required pursuant to Section 8.1(d)(ii) hereof, for each of the five (5) days immediately preceding the occurrence of such Credit Event; and
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Confirmation of Borrowing Base. The undersigned Lenders hereby confirm that the consummation of the transactions contemplated by the Linn Energy Agreement and the South Texas Agreement will not result in any adjustment to the Borrowing Base, so that the Borrowing Base will be maintained at $1,800,000,000 until the next Redetermination Date.
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Related to Confirmation of Borrowing Base

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • 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).

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Manner of Borrowing The Company shall give written or telephonic notice to the Administrative Agent (which notice shall be irrevocable once given and, if given by telephone, shall be promptly confirmed in writing) by no later than 12:00 noon (Chicago time) on the date the Company requests that any Borrowing of Loans be made to it under the Commitments, and the Administrative Agent shall promptly notify each Lender of the Administrative Agent's receipt of each such notice. Each such notice shall specify the date of the Borrowing of Loans requested (which must be a Business Day, and which date shall be at least three (3) Business Days subsequent to the date of such notice in the case of any Borrowing of Loans constituting a LIBOR Portion) and the amount of such Borrowing. Each Borrowing of Loans shall initially constitute part of the applicable Base Rate Portion except to the extent the Company has otherwise timely elected that such Borrowing constitute part of a LIBOR Portion as provided in Section 3 hereof. The Company agrees that the Administrative Agent may rely upon any written or telephonic notice given by any person the Administrative Agent in good faith believes is an Authorized Representative without the necessity of independent investigation and, in the event any telephonic notice conflicts with the written confirmation, such telephonic notice shall govern if the Administrative Agent and the Lenders have acted in reliance thereon. The Lenders undertake to endeavor in good faith to honor on a same day basis Borrowing requests received later than 12:00 noon (Chicago time) but shall incur no liability to the Company if it is not reasonably practical for them to honor such requests on a same day basis. Not later than 1:00 p.m. (Chicago time) on the date specified for any Borrowing of Loans to be made hereunder, each Lender shall make the proceeds of its Loan comprising part of such Borrowing available to the Administrative Agent in Chicago, Illinois in immediately available funds. Subject to the provisions of Section 7 hereof, the proceeds of each Loan shall be made available to the Company at the principal office of the Administrative Agent in Chicago, Illinois, in immediately available funds, upon receipt by the Administrative Agent from each Lender of its pro rata share of such Borrowing. Unless the Administrative Agent shall have been notified by a Lender prior to 1:00 p.m. (Chicago time) on the date a Borrowing is to be made hereunder that such Lender does not intend to make its pro rata share of such Borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such share available to the Administrative Agent on such date and the Administrative Agent may (but shall not be obligated to) in reliance upon such assumption make available to the Company a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made such amount available to the Company, the Administrative Agent shall be entitled to receive such amount from such Lender forthwith upon its demand, together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Company and ending on but excluding the date the Administrative Agent recovers such amount at a rate per annum equal to (x) from the date the related payment was due to the Administrative Agent to the date two (2) Business Days after the date such payment was due, the Federal Funds Rate for such day (or in the case of a day which is not a Business Day, then for the preceding day) and (y) thereafter until payment of such amount is received by the Administrative Agent from such Lender, the Base Rate in effect for each such day.

  • 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.

  • Authorization of Borrowing Etc The execution, delivery and performance of each Loan Document to which it is a party have been duly authorized by all necessary action on the part of each Credit Party.

  • Content of Borrowing Requests Each telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:

  • Location of Borrower The Borrower's place of business (or, if the Borrower has more than one place of business, its chief executive office) is located at the address listed under the Borrower's signature on this Agreement.

  • Manner of Borrowing and Funding Revolver Loans Borrowings under the Commitments established pursuant to Section 1.1 hereof shall be made and funded as follows:

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