Common use of Effectiveness of a Redetermined Borrowing Base Clause in Contracts

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers and the Lenders:

Appears in 7 contracts

Samples: Third Amendment Agreement (Samson Resources Corp), Credit Agreement (Samson Resources Corp), Fourth Amendment Agreement (Samson Resources Corp)

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Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Banks and the Lenders:

Appears in 4 contracts

Samples: Credit Agreement (Athlon Energy Inc.), Credit Agreement (MBOW Four Star, L.L.C.), Credit Agreement (Talos Energy Inc.)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.20(f), after a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Borrowing Base Required Lenders (other than Defaulting Lenders) or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii2.20(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base deliver a notice (the “New Borrowing Base Notice”), ) to the Borrower and the Lenders regarding the amount of the redetermined Borrowing Base and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Banks and the Lenders:

Appears in 4 contracts

Samples: Credit Agreement (Southwestern Energy Co), Credit Agreement (Southwestern Energy Co), Credit Agreement (Chesapeake Energy Corp)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.14(f), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers and the Lenders:

Appears in 3 contracts

Samples: Credit Agreement (Concho Resources Inc), Credit Agreement (Range Resources Corp), Credit Agreement (Range Resources Corp)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii)2.07(c)(iii) or adjusted pursuant to Section 2.07(e) or Section 9.11, the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Bank and the Lenders:

Appears in 3 contracts

Samples: Credit Agreement (Rice Energy Inc.), Credit Agreement (Rice Energy Inc.), Credit Agreement (Ultra Petroleum Corp)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.07(e), after a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Borrowing Base Required Lenders (other than Defaulting Lenders) or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii2.07(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Bank and the Lenders:

Appears in 3 contracts

Samples: Credit Agreement (Sundance Energy Inc.), Credit Agreement (Sundance Energy Inc.), Credit Agreement (Sundance Energy Australia LTD)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Borrowing Base Required Lenders or the Required LendersLenders (subject to Section 2.10(b) and Section 12.02(b)(ii) with respect to any Defaulting Lender), as applicable, pursuant to Section 2.14(c)(iii2.07(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders (the “New Borrowing Base Notice”) of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Bank(s) and the Lenders:

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (Goodrich Petroleum Corp), Senior Secured Revolving Credit Agreement (Goodrich Petroleum Corp)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii2.07(c)(iii) or adjusted pursuant to Section 2.07(e) or Section 9.11(d), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Bank and the Lenders:

Appears in 1 contract

Samples: Credit Agreement (Rice Energy Inc.)

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Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.14(g), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers and the Lenders:

Appears in 1 contract

Samples: Pledge Agreement (Roan Resources, Inc.)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.14(f), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuer and the Lenders:

Appears in 1 contract

Samples: Credit Agreement (Denbury Resources Inc)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved or is deemed to have been approved by the Borrowing Base Required all Non-Defaulting Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuing Banks and the Lenders:

Appears in 1 contract

Samples: Credit Agreement (Magnolia Oil & Gas Corp)

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h2.14(g), after a redetermined Borrowing Base is approved by all of the Lenders or is approved or deemed to have been approved by the Borrowing Base Required Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Letter of Credit Issuers Issuer and the Lenders:

Appears in 1 contract

Samples: Credit Agreement (Denbury Inc)

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