Documentation and Funding Requirements; Amendment of the Borrowing Base Certificate Sample Clauses

Documentation and Funding Requirements; Amendment of the Borrowing Base Certificate. The Initial Borrower will require that any existing Investor that is an assignee will provide confirmation of its obligations under its Subscription Agreement with respect to any increase in its Commitment relating to such assignment. If any substitute Investor to which an assignment of an interest in the Initial Borrower is made by a Borrowing Base Investor is not designated as a Borrowing Base Investor by the Administrative Agent, with the same or greater Unused Commitment as the assignor Investor and if the transferring Investor is released from its obligation to fund Contributions under the applicable Constituent Documents, the calculation described in Section 2.1(e) hereof will be made prior to the effectiveness of such substitution or assignment, as applicable, but taking into consideration the Commitments of the Investors as if such substitution or assignment will have occurred, and to the extent such substitution or assignment would cause a mandatory prepayment event, then the Initial Borrower will initiate a Demand Notice for the purpose of making such prepayment, and such assignor or assignee Investor must fund its share of the Demand Notice prior to such substitution or assignment. In the event any Person is admitted as an additional or substitute Investor, the Initial Borrower will promptly deliver to the Administrative Agent a revised Borrowing Base Certificate to this Credit Agreement, containing the name of each Investor in the Initial Borrower and such Investor’s Commitment. The Borrowing Base Certificate shall specify whether or not an Investor satisfied the conditions set forth in the definition of “Included Investor” or “Designated Investor”, as applicable. The Initial Borrower shall use reasonable best efforts to give the Administrative Agent at least five (5) Business Days’ prior written notice to any transfer of an interest in the Initial Borrower if such transferring Investor is being released from its obligations, provided that in the event the Initial Borrower fails to deliver such (5) Business Days’ notice and as a result the Administrative Agent is unable to determine whether such transferee Investor satisfies the requirements of “Included Investor” or “Designated Investor” prior to the effective date of the transfer, then such transferee Investor shall be deemed not to have satisfied such requirements until such time as the Administrative Agent can make such determination in accordance with the definition of “Included Investor” ...
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Related to Documentation and Funding Requirements; Amendment of the Borrowing Base Certificate

  • Initial Borrowing Base Certificate Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts and Eligible Inventory of Borrower as of a date not more than seven (7) days prior to the Closing Date.

  • 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.

  • to Compliance Certificate Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated:

  • Borrowing Base Certificate The Administrative Agent shall have received a Borrowing Base Certificate which calculates the Borrowing Base as of the end of the month immediately preceding the Effective Date.

  • Borrowing Base Certificates Prior to the occurrence of a Reporting Trigger Event (and after a Reporting Trigger Event has not existed for 30 consecutive days), Borrowers shall, by the 12th Business Day of each month, deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of the previous month, and at such other times as Agent may reasonably request. After the occurrence of a Reporting Trigger Event and until such time as a Reporting Trigger Event has not existed for 30 consecutive days, Borrowers shall, on or before 10:00 p.m. on the second Business Day of each week, deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of Friday of the immediately preceding week, and at such other times as Agent may reasonably request. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrowers and signed by a Senior Officer or the Controller of Borrower Agent or its general partner, provided that Agent may in its Permitted Discretion from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the Dominion Account or otherwise; and (b) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserve. Furthermore, Borrower shall, on or before the Inventory Structuring Transaction Commencement Date applicable to each Permitted Inventory Structuring Transaction, deliver to Agent (and Agent shall deliver to Lenders) an updated Borrowing Base Certificate prepared as of the close of business of the month immediately preceding such Inventory Structuring Transaction Commencement Date, adjusted to exclude from the Borrowing Base (i) all Accounts of such Inventory Structuring Subsidiary owed by the applicable Inventory Structuring Counterparty, (ii) all Accounts of such Inventory Structuring Subsidiary which constitute or consist of insurance proceeds of any Hydrocarbon Inventory at any Inventory Structuring Location or any proceeds of such insurance proceeds, (iii) all Inventory of such Inventory Structuring Subsidiary at any Inventory Structuring Location, and (iv) without duplication of the foregoing, any cash or Cash Equivalents pledged to secured the obligations with respect to such Permitted Inventory Structuring Transaction. On or after the Inventory Structuring Transaction Termination Date with respect to any Permitted Inventory Structuring Transaction, Borrower Agent may deliver to Agent (and Agent shall deliver to Lenders) an updated Borrowing Base Certificate prepared as of the close of business of the immediately preceding month, adjusted to include in the Borrowing Base any Collateral previously excluded solely as a result of being subject to such Permitted Inventory Structuring Transaction, together with a certificate certifying that the Inventory Structuring Transaction Termination Date with respect to such Permitted Inventory Structuring Transaction has occurred, and such Collateral shall be eligible for inclusion in the Borrowing Base (subject to the requirements otherwise set forth in this Agreement).

  • Specific Amendments to Credit Agreement The parties hereto agree that the Credit Agreement is amended as follows:

  • Provision and contents of Compliance Certificate (a) The Company shall supply a Compliance Certificate to the Agent with each set of its audited consolidated Annual Financial Statements and each set of its consolidated Quarterly Financial Statements.

  • Amendments to the Loan Agreement The Loan Agreement is hereby amended as follows:

  • Amendments to Credit Agreement The Credit Agreement is hereby amended as follows:

  • 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”);

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