Global Borrowing Base. A. Subject to adjustments pursuant to Sections 2.8(d), (e), (g), and (h) of the U.S. Credit Agreement or Sections 2.7(d), (e), (g), and (h) of the Canadian Credit Agreement, by execution of this Amendment, each of the Global Administrative Agent, the Combined Lenders, the U.S. Borrower and the Canadian Borrower agree during the period from the date hereof to the date of the next redetermination of the Global Borrowing Base (as defined in each of the Combined Credit Agreements) pursuant to the provisions of Section 2.8 of the U.S. Credit Agreement or Section 2.7 of the Canadian Credit Agreement that (a) the Global Borrowing Base (as defined in each of the Combined Credit Agreements) shall equal U.S.$1,200,000,000, (b) the U.S. Borrowing Base shall equal U.S.$915,000,000, (c) the Allocated U.S. Borrowing Base (as defined in each of the Combined Credit Agreements) shall equal U.S.$800,000,000, and (d) the Allocated Canadian Borrowing Base (as defined in each of the Combined Credit Agreements) shall equal U.S.$400,000,000.
Global Borrowing Base. A. Subject to adjustments pursuant to Sections 2.8(d), (e), (g), and (h) of the U.S. Credit Agreement, by execution of this Amendment, each of the Global Administrative Agent, the Combined Lenders, the U.S. Lenders, the U.S. Borrower and the Canadian Borrower agree during the period from the date hereof to the earlier of (i) November 1, 2008 (the “Interim Redetermination Date”) or (ii) the date of the next redetermination of the Global Borrowing Base pursuant to the provisions of Section 2.8 of the U.S. Credit Agreement that (a) the Global Borrowing Base shall equal U.S.$1,000,000,000, (b) the U.S. Borrowing Base shall equal U.S.$710,000,000, (c) the Allocated U.S. Borrowing Base shall equal U.S.$600,000,000, and (d) the Allocated Canadian Borrowing Base shall equal U.S.$400,000,000.
Global Borrowing Base. 1. Subject to adjustments pursuant to Sections 2.8(d), (e), (g), and (h) of the U.S. Credit Agreement or Sections 2.7(d), (e), (g), and (h) of the Canadian Credit Agreement, by execution of this Amendment, and except as provided in Section VIII.D below, each of the Global Administrative Agent, the Combined Lenders, the U.S. Borrower and the Canadian Borrower agree during the period from the date hereof to the date of the next redetermination of the Global Borrowing Base (as defined in each of the Combined Credit Agreements) pursuant to the provisions of Section 2.8 of the U.S. Credit Agreement or Section 2.7 of the Canadian Credit Agreement that (a) the Global Borrowing Base (as defined in each of the Combined Credit Agreements) shall be decreased to U.S.$1,125,000,000, (b) the U.S. Borrowing Base shall be decreased to U.S.$875,000,000, (c) the Allocated U.S. Borrowing Base (as defined in each of the Combined Credit Agreements) shall equal U.S.$825,000,000, and (d) the Allocated Canadian Borrowing Base (as defined in each of the Combined Credit Agreements) shall equal U.S.$300,000,000.
Global Borrowing Base. (a) The Global Administrative Agent and the Combined Lenders shall have the right, in connection with the issuance of any Permitted Subordinated Debt, to reduce the Global Borrowing Base and the U.S. Borrowing by an amount agreed to by the Global Administrative Agent and the Combined Lenders in accordance with their customary practices and standards for oil and gas loans and in the exercise of their sole and reasonable discretion. In connection with any such reduction, the Global Administrative Agent shall promptly notify Borrower, the Canadian Borrower and the Combined Lenders of the new Global Borrowing Base and U.S. Borrowing Base as so reduced, which new Global Borrowing Base and U.S. Borrowing Base shall be effective as of the date specified in such notice. Upon receipt of such notice from the Global Administrative Agent, the U.S. Borrower shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d) of the U.S. Credit Agreement.
Global Borrowing Base. This Section shall be applicable at any time when the Applicable Rating Level of Borrower is Level III; PROVIDED, HOWEVER, that this Section shall apply at all times prior to the delivery of the Reserve Report dated effective as of January 1, 2001, and PROVIDED FURTHER that, if at any time the Applicable Rating Level of Borrower declines to Level III, the Technical Lenders and the Borrowing Base Required Lenders shall promptly but in any event not less than five (5) Business Days thereafter initiate the procedure set forth herein to redetermine the Global Borrowing Base.
Global Borrowing Base. (a) Global Borrowing Base, Conforming Global Borrowing Base, U.S.
Global Borrowing Base. (a) Initial Global Borrowing Base; Scheduled Semi-Annual and Discretionary Determinations of the Global Borrowing Base; Procedures for Determination of the Global Borrowing Base. The initial Global Borrowing Base shall be $947,000,000. The Global Borrowing Base shall be redetermined upon receipt by the Global Administrative Agent, the Engineering Banks, the Australian Administrative Agent (on its own behalf and on behalf of the Australian Lenders), the Canadian Administrative Agent (on its own behalf and on behalf of the Canadian Lenders), and the U.S. Lenders of the relevant Approved Engineers' Report or Company's Engineers' Report, as the case may be, pursuant to Sections 2.3(b), (d) or (e) or 9.1(d), (e) or (f). The redeterminations of the Global Borrowing Base described in the preceding sentence shall be made as follows: The Engineering Banks shall make a determination of the Global Borrowing Base in accordance with the criteria described in clause (c) of this Section 2.3, within thirty (30) days after receipt of the Approved Engineers' Report or the Company's Engineers' Report, as the case may be. Within ten (10) days following such determination, the Global Administrative Agent shall notify the U.S. Lenders, the Australian Administrative Agent (for its own behalf and on behalf of the Australian Lenders) and the Canadian Administrative Agent (for its own behalf and on behalf of the Canadian Lenders) in writing of such determination of the amount of the proposed Global Borrowing Base. Each of the Combined Lenders shall notify the Global Administrative Agent in writing, by telex or by facsimile transmission whether it approves or disapproves of any such determination within ten (10) Business Days of its receipt of such notice from the Global Administrative Agent; provided that any of the Combined Lenders which do not so notify the Global Administrative Agent shall be deemed to have approved of such determination. Upon the approval (or deemed approval) by the Combined Required Lenders, such determination shall thereafter be the Global Borrowing Base and the Global Administrative Agent shall within five (5) days of such approval notify the Company in writing
Global Borrowing Base. In reliance on the representations, warranties, covenants and agreements contained in this Third Amendment, and after giving effect to the amendments contained in Section 2 hereof, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, in each case effective as of the Third Amendment Effective Date, (a) the Lenders hereby redetermine the Oil and Gas Reserve Borrowing Base to be $60,000,000, (b) the Units Borrowing Base is hereby reaffirmed at $40,000,000, (c) the Pledged Cash Borrowing Base is hereby reaffirmed at $0, and (d) as a result, the Global Borrowing Base is hereby decreased from $120,000,000 to $100,000,000. The Global Borrowing Base shall remain at $100,000,000 until the next Scheduled Redetermination, Interim Redetermination or other adjustment of the Global Borrowing Base pursuant to the terms of the Credit Agreement as amended hereby. The redetermination of the Oil and Gas Reserve Borrowing Base provided for herein is the Scheduled Oil and Gas Redetermination originally scheduled for on or about October 1, 2013 (and later postponed by the Borrower and the Lenders to on or about November 1, 2013 pursuant to that certain letter agreement among the parties dated as of September 27, 2013) for purposes of Section 2.07(b) of the Credit Agreement.
Global Borrowing Base. A. Subject to adjustments pursuant to Sections 2.7(d), (e), (g), and (h) of the U.S. Credit Agreement, by execution of this Amendment, each of the Global Administrative Agent, the Combined Lenders, the U.S. Lenders, the U.S. Borrower and the Canadian Borrower agree during the period from the date hereof to the date of the next redetermination of the Global Borrowing Base pursuant to the provisions of Section 2.7 of the U.S. Credit Agreement currently scheduled to become effective on or about May 1, 2006 that (i) the Global Borrowing Base shall equal U.S.$600,000,000, (ii) the U.S. Borrowing Base shall equal U.S.$330,000,000, (iii) the Allocated U.S. Borrowing Base shall equal U.S.$330,000,000, and (iv) the Allocated Canadian Borrowing Base shall equal U.S.$270,000,000.
Global Borrowing Base. This Section shall be applicable at all times.
