Special Redeterminations Sample Clauses

Special Redeterminations. In addition to Scheduled Redeterminations and any adjustments made by the Required Lenders to the Borrowing Base pursuant to Section 7.03 and Section 7.05, (a) the Borrowers may request a Special Redetermination of the Borrowing Base once between each Scheduled Redetermination and (b) the Required Lenders may request a Special Redetermination once between each Scheduled Redetermination. Any request by Borrowers pursuant to this Section 3.04 shall be submitted to the Administrative Agent and each Lender and at the time of such request (or within fifteen (15) days thereafter in the case of the Reserve Report) Borrowers shall (1) deliver to the Administrative Agent and each Lender a Reserve Report prepared as of a date prior to the date of such request that is reasonably acceptable to the Administrative Agent and such other information which the Administrative Agent shall reasonably request, and (2) notify the Administrative Agent and each Lender of the Borrowing Base requested by Borrowers in connection with such Special Redetermination. Any request by Required Lenders pursuant to this Section 3.04 shall be submitted to the Administrative Agent and the Borrowers. Any Special Redetermination shall be made by the Administrative Agent and Lenders in accordance with the procedures and standards set forth in Section 3.03; provided that no Reserve Report is required to be delivered to the Administrative Agent or the Lenders in connection with any Special Redetermination requested by the Required Lenders pursuant to this Section 3.04.

Special Redeterminations. The first sentence of Section 3.03 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows:

Special Redeterminations. In addition to Scheduled Redeterminations, Administrative Agent shall be permitted to make a Special Redetermination of the Borrowing Base once in each Fiscal Year and Borrower shall be permitted to request a Special Redetermination of the Borrowing Base once in each Fiscal Year. Any change in the Borrowing Base shall not be effective until the same has been approved by all Banks. Administrative Agent shall provide Banks and Borrower with notice of its intention to make a Special Redetermination or notice of Borrower's request for a

Special Redeterminations. (a) In addition to Scheduled Redeterminations, Devon Redeterminations and redeterminations of the Borrowing Base pursuant to Section 4.4(b) and Section 4.5, Borrower and Required Banks shall each be permitted to request a Special Redetermination of the Borrowing Base once in each Fiscal Year. Any request by Required Banks pursuant to this Section 4.3(a) shall be submitted to Administrative Agent and Borrower. Any request by Borrower pursuant to this Section 4.3(a) shall be submitted to Administrative Agent and each Bank and at the time of such request Borrower shall (i) deliver to Administrative Agent and each Bank a Reserve Report, and (ii) also notify Administrative Agent and each Bank of the Borrowing Base requested by Borrower in connection with such Special Redetermination. (b) Any Special Redetermination shall be made by Banks in accordance with the procedures and standards set forth in Section 4.2; provided, that, no Reserve Report will be required to be delivered to Administrative Agent and Banks in connection with any Special Redetermination requested by Required Banks pursuant to Section 4.3(a) above.

Special Redeterminations. In addition to Scheduled Redeterminations and any adjustments made by the Required Lenders to the Borrowing Base pursuant to Section 7.03 and Section 7.05, (a) the Borrower may request a Special Redetermination of the Borrowing Base once between each Scheduled Redetermination, (b) the Required Lenders may request a Special Redetermination once between each Scheduled Redetermination, and (c) the Borrower may request a Special Redetermination of the Borrowing Base if the aggregate PV-9 of all Acquisitions since the most recent Redetermination Date or Special Redetermination exceeds 10% of the Borrowing Base then in effect. Any request by Borrower pursuant to this Section 3.04 shall be submitted to the Administrative Agent and each Lender and at the time of such request (or within fifteen (15) days thereafter in the case of the Reserve Report) Borrower shall (1) deliver to the Administrative Agent and each Lender a Reserve Report prepared as of a date prior to the date of such request that is reasonably acceptable to the Administrative Agent and such other information which the Administrative Agent shall reasonably request, and (2) notify the Administrative Agent and each Lender of the Borrowing Base requested by Borrower in connection with such Special Redetermination. Any request by Required Lenders pursuant to this Section 3.04 shall be submitted to the Administrative Agent and the Borrower. Any Special Redetermination shall be made by the Administrative Agent and Lenders in accordance with the procedures and standards set forth in Section 3.03; provided that no Reserve Report is required to be delivered to the Administrative Agent or the Lenders in connection with any Special Redetermination requested by the Required Lenders pursuant to this Section 3.04.

Special Redeterminations. In addition to Scheduled Redeterminations and Special Redeterminations pursuant to Section 7.03(d), (a) the Borrowers may request a Special Redetermination of the Borrowing Base (i) once in any calendar year ending on or before December 31, 2009 and (ii) twice in any calendar year thereafter and (b) the Required Lenders may request a Special Redetermination (i) in connection with any incurrence of, or any increase in, Permitted Subordinated Debt, (ii) in connection with the incurrence of Indebtedness described in Section 7.01(g) on or after the Effective Date, and (iii) once in any calendar year for any other reason. Any request by Borrowers pursuant to this Section 3.04 shall be submitted to the Administrative Agent and each Lender and at the time of such request (or within fifteen (15) days thereafter in the case of the Reserve Report and the Midstream Report) Borrowers shall (1) deliver to the Administrative Agent and each Lender a Reserve Report and, in the event the Antero Midstream Sale Closing Date does not occur prior to the next Scheduled Redetermination to occur on or about October 15, 2010, Midstream Report prepared as of a date prior to the date of such request that is reasonably acceptable to the Administrative Agent and such other information which the Administrative Agent shall reasonably request, and (2) notify the Administrative Agent and each Lender of the Borrowing Base requested by Borrowers in connection with such Special Redetermination. Any request by Required Lenders pursuant to this Section 3.04 shall be submitted to the Administrative Agent and the Borrowers. Any Special