Unscheduled Borrowing Base Redeterminations Sample Clauses

Unscheduled Borrowing Base Redeterminations. In addition to scheduled redeterminations of the Borrowing Base, the Bank may redetermine the Borrowing Base and the Monthly Borrowing Base Reduction at any time, and from time to time, which redetermination shall become effective upon written notification from Bank to Borrower and which, subject to the other provisions of this Agreement, shall be the basis on which the Borrowing Base shall thereafter be calculated until the effective date of the next redetermination of the Borrowing Base and the Monthly Borrowing Base Reduction, as set forth in this Section.