Initial Borrowing Base Termination Date definition

Initial Borrowing Base Termination Date means the earliest of (a) the Curtailment Determination Notice Date, (b) the first date on which an Event of Default occurs, (c) the April 2018 Notice Date, and (d) the Early Determination Notice Date.
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Examples of Initial Borrowing Base Termination Date in a sentence

  • For the avoidance of doubt, inasmuch as no Derivative Transactions are in effect on the Closing Date, no Borrowing Base reduction or mandatory prepayment shall be required solely as a result of any Derivative Liquidation (if any) occurring prior to the Initial Borrowing Base Termination Date.

  • Notwithstanding anything to the contrary contained herein, the Borrowing Base may be subject to reduction from time to time, including prior to the Initial Borrowing Base Termination Date, pursuant to Section 2.04(f)(iii), Section 7.16(c), Section 8.02(d)(iii), Section 8.05(l) and Section 8.12(d).

  • From and after the Initial Borrowing Base Termination Date, the Parent, the Borrower and their Subsidiaries shall at all times maintain Liquidity equal to at least 20% of the then effective Borrowing Base.

  • If the Borrower requests a Special Borrowing Base Determination prior to the occurrence of any event of the types described in clauses (a) through (c) of the definition the Initial Borrowing Base Termination Date, then the Initial Borrowing Base Termination Date shall have occurred on the Early Determination Notice Date.

  • From and after the Initial Borrowing Base Termination Date, the Borrowing Base shall be the amount determined from time to time in accordance with this Section 2.04.