Borrowing Base Decrease. Effective as of the Fourth Amendment Effective Date, the Borrowing Base is hereby decreased from $120,000,000 to $112,000,000. This redetermination of the Borrowing Base constitutes the Scheduled Redetermination of the Borrowing Base to be made on or about November 1, 2016 pursuant to Section 2.07(b) of the Credit Agreement. The Borrowing Base as decreased hereby will remain in effect until the next Scheduled Redetermination, unless otherwise adjusted pursuant to the provisions of Section 2.07 of the Credit Agreement.
Borrowing Base Decrease. The Borrowing Base shall be decreased, effective as of the Fifteenth Amendment Effective Date, from $650,000,000 to $550,000,000 and shall remain at $550,000,000 until the next Scheduled Redetermination Date, Interim Redetermination Date or other redetermination or adjustment of the Borrowing Base thereafter, whichever occurs first pursuant to the Credit Agreement as amended hereby. The Borrowers, Parent and Lenders agree that the redetermination of the Borrowing Base provided for in this Section 2 shall be considered and deemed to be the Scheduled Redetermination scheduled for on or about May 1, 2015 for the purposes of Section 2.07 of the Credit Agreement.
Borrowing Base Decrease. For the period from and including the Seventh Amendment Effective Date (as defined below) to but excluding the next Redetermination Date, the Borrowing Base shall be equal to $350,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Sections 2.07(e), 2.07(f), 8.13(c) or 9.12(d) of the Credit Agreement. This Borrowing Base decrease shall constitute the April 1, 2015 Scheduled Redetermination.
Borrowing Base Decrease. Ladies and Gentlemen: Reference is hereby made to that certain Fourth Amended and Restated Credit Agreement dated as of November 4, 2010 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), by and among Antero Resources Arkoma LLC (successor by conversion of Antero Resources Corporation), a Delaware limited liability company (“Antero”), Antero Resources Piceance LLC (successor by conversion of Antero Resources Piceance Corporation), a Delaware limited liability company (“Antero Piceance”), Antero Resources Pipeline LLC (successor by conversion of Antero Resources Pipeline Corporation), a Delaware limited liability company (“Antero Pipeline”) and Antero Resources Appalachian Corporation, a Delaware corporation (“Antero Appalachian”) (Antero, Antero Piceance, Antero Pipeline and Antero Appalachian are hereinafter individually referred to as a “Borrower” and collectively as the “Borrowers”), certain Subsidiaries of the Borrowers, as Guarantors, the lenders from time to time party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. References herein to any Section shall be to a Section of the Credit Agreement unless otherwise specifically provided. The Borrowers have informed the Administrative Agent and the Lenders that Antero Resources Finance Corporation has issued on the date hereof $225,000,000 in stated principal amount of 6.000% Senior Notes due 2020 (the “Specified Senior Notes”) on terms and conditions permitted under and in accordance with the Credit Agreement. As a result of the issuance of the Specified Senior Notes and pursuant to Section 3.06, the Credit Parties acknowledge and agree that (a) the Borrowing Base shall be reduced by $56,250,000, and (b) effective as of the date hereof, the Borrowing Base shall be $1,218,750,000 and shall remain at such amount until the earlier of (i) the next Redetermination of the Borrowing Base and (ii) the date such Borrowing Base is otherwise adjusted pursuant to the terms of the Credit Agreement. By its signature below, each Credit Party hereby (a) acknowledges and agrees that effective as of the date hereof, the Borrowing Base shall be $1,218,750,000; (b) represents and warrants that the issuance of the Specified Senior Notes was consummated on terms and cond...
Borrowing Base Decrease. Pursuant to Section 2.07 of the Credit Agreement, and upon receipt by the Administrative Agent of duly executed counterparts of this First Amendment from the Loan Parties and the Super Majority Lenders, the Borrowing Base shall be decreased from $835,000,000 to $735,000,000 effective as of the First Amendment Effective Date, and shall remain at $735,000,000 until the next Scheduled Redetermination, Interim Redetermination or other redetermination of the Borrowing Base thereafter, whichever occurs first pursuant to the Credit Agreement as amended hereby. The Loan Parties, the Administrative Agent and the Lenders agree that the redetermination of the Borrowing Base provided for in this Section 3 shall be considered and deemed to be the Scheduled Redetermination scheduled for on or about November 1, 2013.
Borrowing Base Decrease. The Borrowing Base is hereby decreased from $765,200,000 to $729,700,000. Such Borrowing Base shall remain in effect until the next Scheduled Redetermination pursuant to the provisions of the Original Credit Agreement. Allocations of the Revolving Credit Lenders to the new Borrowing Base are set forth on Annex I hereto.
Borrowing Base Decrease. Subject to the terms of this Agreement, the Borrowing Base shall be decreased to $180,000,000 effective as of the Amendment No. 8 Effective Date and such Borrowing Base shall remain in effect at that level until the next Borrowing Base redetermination pursuant to the terms of the Credit Agreement, as amended hereby. Each of the parties hereto acknowledge and agree that the Borrowing Base set under this Section 3 is set at such level taking into account various considerations and should not be construed as an indication or precedent for any future redetermination of the Borrowing Base or as a waiver by the Administrative Agent and the Lenders to redetermine the Borrowing Base pursuant to the terms of the Credit Agreement, as amended hereby, including but not limited to, the standards and terms set forth in Section 2.02(e) thereof. Each Loan Party hereby further acknowledges and agrees that no course of dealing shall be established hereby. Each of the parties hereto further acknowledge and agree that the Borrowing Base redetermination effected hereby (a) is the redetermination scheduled for the Spring of 2016 under Section #5138767
Borrowing Base Decrease. Effective as of the Effective Date, the Borrowing Base is hereby decreased from $95,000,000 to $80,000,000, and the Monthly Reduction Amount is hereby reaffirmed at $0. The foregoing adjustment of the Borrowing Base and reaffirmation of the Monthly Reduction Amount is the periodic determination of the Borrowing Base and the Monthly Reduction Amount under Section 2.10 of the Original Credit Agreement. The Borrowing Base, as adjusted, and the Monthly Reduction Amount, as reaffirmed, will remain in effect until next redetermined in accordance with the provisions of Section 2.10 of the Original Credit Agreement.
Borrowing Base Decrease. Pursuant to Section 2.07 of the Credit Agreement, the Lenders party hereto hereby decrease the Borrowing Base, effective as of the Eighth Amendment Effective Date, from $750,000,000 to $700,000,000. The Borrowing Base shall remain at $700,000,000 until the next Scheduled Redetermination, Interim Redetermination or other redetermination or adjustment of the Borrowing Base thereafter, whichever occurs first pursuant to the Credit Agreement as amended hereby. The Loan Parties, the Administrative Agent and the Lenders agree that the redetermination of the Borrowing Base provided for in this Section 3 shall constitute the Scheduled Redetermination of the Borrowing Base scheduled for on or about November 1, 2015 and shall not be considered or deemed to be an Interim Redetermination for purposes of Section 2.07 of the Credit Agreement.
Borrowing Base Decrease. In reliance on the covenants and agreements contained in this Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Administrative Agent and the Required Lenders have redetermined the Borrowing Base and agree that the Borrowing Base shall be, effective as of the Amendment Effective Date, decreased from $775,000,000 to $580,000,000, and the Borrowing Base shall remain at $580,000,000 until the next Scheduled Redetermination, Interim Redetermination, or other redetermination or adjustment of the Borrowing Base thereafter, whichever occurs first pursuant to the terms of the Credit Agreement. The Borrower, the Administrative Agent and the Lenders hereby agree that the redetermination of the Borrowing Base provided for in this Section 3 shall constitute the Scheduled Redetermination scheduled for May 1, 2020 for purposes of Section 2.07(b) of the Credit Agreement. This Section 3 constitutes a New Borrowing Base Notice in accordance with Section 2.07(d) of the Credit Agreement. The new Borrowing Base determined pursuant to this Section 3 shall be effective as of the Amendment Effective Date, notwithstanding the effective date that would otherwise be applicable to a redetermination pursuant to Section 2.07(d) of the Credit Agreement.
