Common use of Permitted Securities Clause in Contracts

Permitted Securities. In addition to each of the determinations of the Borrowing Base set forth in this Agreement, to the extent from time to time any Permitted Securities are outstanding, the Borrowing Base otherwise determined pursuant to the terms of this Section 2.16 shall be reduced by twenty five percent (25%) of the amount (whether of principal amount, face amount or liquidation preference amount) of such Permitted Securities.

Permitted Securities. In addition to each of the determinations of the Borrowing Base set forth in this Agreement, to the extent from time to time any Permitted Securities are outstanding, the Borrowing Base otherwise determined pursuant to the terms of this Section 2.16 shall be reduced by twenty five percent (25%) of the amount (whether of principal amount, face amount or liquidation preference amount) of such Permitted SecuritiesSecurities in excess of $300,000,000.