EPL Borrowing Base definition

EPL Borrowing Base means at any time an amount equal to the amount determined in accordance with Section 2.8, as the same may be adjusted from time to time in accordance with the terms hereof; and for clarification, at Disqualifying Condition Termination, “EPL Borrowing Base” shall be zero.
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Examples of EPL Borrowing Base in a sentence

  • Such designation shall be effective as of the Business Day specified in such written notice (or, if no effective date is specified in such written notice, the next Business Day following delivery of such written notice) and such new EPL Borrowing Base shall remain in effect until the next determination or redetermination of the EPL Borrowing Base in accordance with this Agreement.

  • The Administrative Agent shall have fifteen (15) days following receipt of such requested information to make an initial redetermination of the EPL Borrowing Base, and the Administrative Agent and the Required Lenders shall approve and designate the new EPL Borrowing Base in accordance with the procedures and standards described in Section 2.8.10.

  • On information and belief, SIC made transfers to Pa Makani for an antecedent debt owed by SIC to Pa Makani within the scope of 28 U.S.C. § 3304(a)(2).

  • Notwithstanding anything to the contrary contained herein, the EPL Borrowing Base will also be redetermined or adjusted in accordance with the provisions of Sections 7.1.13 and 7.2.10.

  • Anything herein contained to the contrary notwithstanding, any determination or redetermination of the EPL Borrowing Base resulting in any increase of the EPL Borrowing Base in effect immediately prior to such determination or redetermination shall require the approval of all the EPL Lenders in their sole discretion in accordance with their respective customary practices and standards for oil and gas lending as they exist at the particular time.

  • Within fifteen (15) days after receipt of all such Reserve Reports and information (commencing with receipt of the Reserve Report dated December 31, 2014), the Administrative Agent shall make an initial determination of a Proposed EPL Borrowing Base, and upon such initial determination shall promptly notify the Lenders in writing of initial determination of such Proposed EPL Borrowing Base.

  • After giving effect to the EPL Acquisition and the Credit Extensions to be made on the Eighth Amendment Effective Date, and Section 4(b) of this Amendment, no Default, Event of Default, Borrowing Base Deficiency, or EPL Borrowing Base Deficiency shall have occurred and be continuing.

  • If, at the end of such fifteen (15) days, any EPL Lender has not communicated to the Administrative Agent its approval or disapproval, such failure to respond shall be deemed to be an approval of the new or reaffirmed EPL Borrowing Base proposed by the Administrative Agent.

  • In the event the sum of the aggregate unpaid principal amount of the EPL Loans of all Lenders shall, upon any determination or redetermination of the EPL Borrowing Base, be in excess of the EPL Borrowing Base at such time, upon notice thereof by the Administrative Agent to EPL, EPL shall immediately make mandatory prepayments of principal on account of the EPL Notes together with accrued interest thereon, in the amounts and on the dates set forth in Section 3.1.

  • Within fifteen (15) days after receipt of all such Reserve Reports and information, the Administrative Agent shall make an initial determination of the new EPL Borrowing Base (a “Proposed EPL Borrowing Base”), and upon such initial determination shall promptly notify the Lenders in writing of its initial determination of such Proposed EPL Borrowing Base.

Related to EPL Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Total Borrowings means, in respect of the Corporation on a consolidated basis, as of a given date, the aggregate of the following, without duplication:

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Canadian Borrowing means a Borrowing of Canadian Loans.