Common use of Scheduled and Interim Redeterminations Clause in Contracts

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders on or about April 1st and October 1st of each year, as applicable, commencing April 1, 2022. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminations, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Revolving Credit Lenders on or about April May 1st and October November 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April May 1, 20222018. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, may on its own initiative or at the direction of the Required Revolving Credit Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07; provided that no Interim Redetermination may be requested by any party prior to the First Scheduled Borrowing Base Date.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April October 1, 2022. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a 2.07(a)a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April October 1, 20222013. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Majority Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations12-month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis basis, in each case in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders on or about April May 1st and October November 1st of each yearyear (commencing with the first Scheduled Redetermination anticipated to occur on or about November 1, 2015), as applicable, commencing April 1, 2022. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminationseach calendar year, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders on or about April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April October 1, 20222014. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, 2.07(a) a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April 1, 20222019. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Majority Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations12-month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, 2.07(a) a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April October 1, 20222013. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Majority Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations12-month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually or more frequently as the Administrative Agent may require in its sole discretion in accordance with this Section 2.07 2.02(b) (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d2.02(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank Agents and the Lenders on or about April 1st and October 1st of each year, as applicable, commencing April October 1, 20222007, unless required to be redetermined more frequently as directed by the Administrative Agent. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof one time between thereof, two times during any two successive Scheduled Redeterminations6-month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.072.02.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders on or about August 1, 2018 and thereafter, on or about, April 1st and October 1st of each year, as applicable, commencing on April 1, 20222019. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base (and, if applicable, the Conforming Borrowing Base) shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base (and, if applicable, Conforming Borrowing Base) shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April May 1st and October November 1st of each year, as applicable, commencing April 1, 2022. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Majority Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations12-month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April May 1st and October November 1st of each year, as applicable, commencing April with a one-time redetermination on December 1, 20222011, followed by semi-annual redeterminations commencing on May 1, 2012. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations6 month period, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.”

Scheduled and Interim Redeterminations. The Borrowing Base and the Threshold Amount shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “"Scheduled Redetermination”"). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base and Threshold Amount shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April 1st and October 1st of each year, as applicable, commencing April 1, 20222005. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Majority Lenders, by notifying the Borrower thereof thereof, one time between during any two successive Scheduled Redeterminations12-month period, each elect to cause the Borrowing Base and the Threshold Amount to be redetermined between Scheduled Redeterminations (an “"Interim Redetermination”") in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined on a semi-annual basis annually in accordance with this Section 2.07 (each such redetermination, a “Scheduled 37 Redetermination”). Subject , and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Administrative AgentAgents, the Issuing Bank and the Lenders on or about April May 1st and October November 1st of each yearyear (or, in each case, such date promptly thereafter as applicablereasonably practicable), commencing April May 1, 20222018. In addition, (i) the Borrower may, by notifying the Administrative Agent thereof one time between any two successive Scheduled Redeterminationsthereof, and (ii) the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof thereof, one time between any two successive Scheduled Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.