New Borrowing Base Sample Clauses

New Borrowing Base. As of the Effective Date, the Borrowing Base is hereby increased from $35,000,000 to $80,000,000. The Borrowing Base as modified will remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement.
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New Borrowing Base. As of the Effective Date, the Borrowing Base is hereby decreased from $2,000,000,000 to $1,600,000,000. As of the date (the "LRR Acquisition Date") upon which Borrower consummates the acquisition of LRR Energy, L.P. and LRE GP, LLC pursuant to documentation acceptable to Administrative Agent and complies with the terms of the Credit Agreement in connection therewith, including without limitation the requirements of Section 8.14, provided that the LRR Acquisition Date has occurred on or prior to the first Scheduled Redetermination Date occurring after the Effective Date, the then-existing Borrowing Base shall be increased by $200,000,000, the Administrative Agent shall notify the Lenders of the occurrence of the LRR Acquisition Date and the increased Borrowing Base pursuant to a New Borrowing Base Notice, and Annex I shall be amended and restated in accordance with the New Borrowing Base Notice. The Borrowing Base as modified will remain in effect until the next Scheduled Redetermination Date, unless otherwise adjusted pursuant to the provisions of Section 2.07 of the Original Credit Agreement.
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New Borrowing Base. Pursuant to Section 2.08 of the Credit Agreement, Agent hereby notifies the Company that Supermajority Lenders have redetermined the Borrowing Base as $225,000,000, effective for the period beginning on and including the date hereof and continuing until but not including the next date as of which the Borrowing Base is redetermined.
Sample 1
New Borrowing Base. Pursuant to Section 2.02 of the Credit Agreement, the Borrowing Base is hereby redetermined at $65,000,000, until the next Redetermination Date (subject to further adjustments from time to time pursuant to Section 2.02(b) or Section 2.02(c)). Notwithstanding the provisions of Section 2.07(a) of the Credit Agreement and solely with respect to the foregoing redetermination, to the extent the Aggregate Outstanding Credit on the Third Amendment Effective Date exceeds the forgoing redetermined Borrowing Base the Borrower shall have until July 1, 2009, subject to extension as provided in the following sentence, to prepay the Loans such that the resulting Aggregate Outstanding Credit does not exceed such redetermined Borrowing Base. The failure of the Borrower to eliminate such excess of the Aggregate Outstanding Credit over such redetermined Borrowing Base on or before July 1, 2009 shall constitute an Event of Default; provided that such date may be extended, if such extension is requested by the Borrower to accommodate the Closing, for an additional 15 days by the Administrative Agent in its sole discretion.
Sample 1
New Borrowing Base. As of the Effective Date, the Borrowing Base is hereby reaffirmed at $1,300,000,000. The Borrowing Base as reaffirmed will remain in effect until adjusted pursuant to the provisions of Section 2.07 of the Original Credit Agreement.
Sample 1

Related to New Borrowing Base

  • 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.

  • Effectiveness of a Redetermined Borrowing Base After a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Lenders or the Required Lenders, as applicable, pursuant to Section 2.07(c)(iii), the Administrative Agent shall 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 Issuing Bank and the Lenders:

  • 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:

  • 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”);

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Effectiveness of Commitment Increase by Borrower An Assuming Lender, if any, shall become a Lender hereunder as of such Commitment Increase Date and the Commitment of the respective Class of any Increasing Lender and such Assuming Lender shall be increased as of such Commitment Increase Date; provided that:

  • Initial Borrowing Before or concurrently with the initial Borrowing:

  • 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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