Determination of the Borrowing Base. The Borrowing Base shall be established and adjusted from time to time as follows:
Determination of the Borrowing Base. During the period from the date hereof to the date of the first determination of the Borrowing Base pursuant to the further provisions of this Section 2.8, the initial amount of the Borrowing Base has been set by the Administrative Agent and acknowledged by the Borrower and agreed to by the Banks to be $112,500,000.
Determination of the Borrowing Base. During the period from ----------------------------------- the date hereof to the date of the first determination of the Borrowing Base pursuant to the further provisions of this Section 2.7, the amount of the ----------- Borrowing Base shall be $625,000,000.
Determination of the Borrowing Base. In accordance with the procedure set forth in Section 2.8 of the Credit Agreement, the Borrowing Base is increased from $150,000,000 to $200,000,000, such increase to be effective as of the Closing Date (as defined below).
Determination of the Borrowing Base. The amount of the Borrowing Base shall be $300,000,000 until the scheduled Borrowing Base redetermination in connection with the delivery of the Engineering Report dated June 30, 2002; provided however that, notwithstanding the foregoing, in the event that at least $100,000,000 of the 9% Senior Subordinated Notes due 2005 have not been called and repaid in full in cash by Borrower within 45 days of the Effective Date, the Agent with the approval of the Applicable Lenders may redetermine the Borrowing Base in the same manner and subject to the same approvals as prescribed in Section 2.7.1 for the redetermination of the Borrowing Base.
Determination of the Borrowing Base. During the period from the date ----------------------------------- hereof to the date of the first determination of the Borrowing Base pursuant to the further provisions of this SECTION 2.16, the initial amount of ------------ the Borrowing Base will be an amount set by the Agent on the Closing Date and acknowledged by the Borrower (the "INITIAL BORROWING BASE").
Determination of the Borrowing Base. The Borrowing Base shall be established and adjusted from time to time as follows: (i) The amount of the Borrowing Base shall initially be established in each Borrowing Base Certificate delivered to the Administrative Agent by the Borrower Agent pursuant to Section 7.02(a). The Administrative Agent shall have the right, at any time and from time to time on and after the Closing Date in good faith and in the exercise of it Credit Judgment to establish, modify or eliminate Reserves. The Borrowing Base shall also be subject to adjustment by the Administrative Agent in its Credit Judgment (A) to reflect any determination that the amount of the Borrowing Base set forth in a Borrowing Base Certificate differs materially from the actual Borrowing Base determined by the Administrative Agent; (B) to reflect Administrative Agent’s reasonable estimate of declines in value of Borrowing Base Assets due to collections received in the Concentration Account or otherwise; (C) to reflect changes in advance rates as a result of changes in dilution, quality, mix and other factors affecting the Borrowing Base Assets; (D) to the extent any information or calculation does not comply with this Agreement; and (E) to reflect other adjustments in accordance with the terms of this Agreement. (ii) In connection with any adjustment by the Administrative Agent to the Borrowing Base (as described in the foregoing clause (i) or otherwise), the Administrative Agent shall (A) promptly notify the Borrower Agent in writing (including via e- mail) (the “Borrowing Base Notice”) and (B) discuss with Borrower Agent (1) the basis for any such difference and (2) any changes made or proposed to be made to the amount of the Borrowing Base, including the reasons for any imposition of or changes in Reserves or any change in advance rates or eligibility criteria with respect to Borrowing Base Assets. The determination of the Borrowing Base by the Administrative Agent shall be presumptively correct and shall constitute the Borrowing Base for all purposes hereunder. 2.02
Determination of the Borrowing Base. During the period from the date hereof to the date of the first determination of the Borrowing Base pursuant to the provisions of Section 2.8.2 or Section 2.8.3(i), the initial amount of the Borrowing Base has been set by the Administrative Agent and acknowledged by the Borrower and agreed to by the Banks to be $500,000,000; provided, however, that (i) if the aggregate principal amount of notes issued by the Borrower under a Permitted 2002 Bond Transaction that is consummated within fifteen (15) days immediately following the Effective Date equals $250,000,000, then the initial Borrowing Base shall be reduced automatically to $325,000,000; (ii) if the aggregate principal amount of notes issued under a Permitted 2002 Bond Transaction that is consummated within fifteen (15) days immediately following the Effective Date is greater than $250,000,000, then the initial Borrowing Base shall be reduced automatically to an amount equal to $325,000,000 minus the difference between (x) the aggregate principal amount of all notes issued under any Permitted 2002 Bond Transaction and (y) $250,000,000, until a new Borrowing Base shall have been determined in accordance with Section 2.8.3(ii); and (iii) if any Permitted 2002 Bond Transaction is consummated after fifteen (15) days immediately following the Effective Date (regardless of the aggregate principal amount of notes issued thereunder), then the Borrowing Base then in effect shall be reduced automatically by an amount equal to the aggregate principal amount of all notes issued under such Permitted 2002 Bond Transaction until a new Borrowing Base shall have been determined in accordance with Section 2.8.3(ii).
Determination of the Borrowing Base. During the period from the date hereof to the date of the first determination of the Borrowing Base pursuant to the further provisions of this SECTION 2.3, the amount of the Borrowing Base shall be Twenty-Six Million Dollars ($26,000,000.00) (the "Initial Borrowing Base"). The Borrowing Base may be reduced or increased from time to time pursuant to a redetermination thereof as set forth in this Section 2.3.
Determination of the Borrowing Base. 24 3. REPAYMENTS, PREPAYMENTS, INTEREST AND FEES..........................24
