Reductions in Borrowing Base Sample Clauses

Reductions in Borrowing Base. In the event of any discovery by the Bank of any document, information or fact which discloses that an item then included in the Borrowing Base should not have been included in the Borrowing Base (or included but at a lower value) as a result of incorrect or incomplete documentation or information previously furnished by or on behalf of any or all of the Borrowers, then the Bank shall give written notice to the Borrowers of such fact, and upon delivery of such notice to the Borrowers, the Borrowers shall have three (3) Business Days to consult with the Bank to resolve any dispute concerning the Borrowing Base items in question. In the event the dispute is not resolved in favor of the Borrowers within said consultation period, then the Borrowing Base shall be automatically readjusted at the end of the consultation period to reflect the information contained in such notice.