New Fields as Borrowing Base Assets Clause Samples

New Fields as Borrowing Base Assets. The Borrower may at any time submit a written application to Agent requesting, by not less than sixty days notice, that a new Field be included as a Borrowing Base Asset, in which event, such Field will become a Borrowing Base Asset with effect from the date that the Agent notifies the Borrower that the Majority Lenders (acting reasonably) are satisfied that: 5.3.1 all material Authorisations applicable to the development and operation of such new Field and then required by law, regulation, contract or customary practice in the People’s Republic of China or under any Project Document to have been obtained, for the development and operation of the new Field have been obtained and are in full force and effect; 5.3.2 all relevant Field, infrastructure and pipeline information and plans has been reviewed and found satisfactory by the Technical Bank (acting reasonably);