Redetermined Borrowing Base. This Amendment shall constitute notice of the Redetermination of the Borrowing Base pursuant to Section 3.05 of the Credit Agreement, and the Administrative Agent, the Lenders, the Borrowers and the Guarantors hereby acknowledge that effective as of the Third Amendment Effective Date, the Borrowing Base is $1,200,000,000, and such redetermined Borrowing Base shall remain in effect 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.
Redetermined Borrowing Base. This Amendment shall constitute a notice of the Redetermination of the Borrowing Base pursuant to Section 4.2 of the Agreement, and the Administrative Agent hereby notifies the Borrowers that, as of the date of this Amendment and until the next Redetermination, the redetermined Borrowing Base is $250,000,000.
Redetermined Borrowing Base. This Amendment shall constitute notice of the Redetermination of the Borrowing Base and the Monthly Reduction pursuant to Section 3.05 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that effective as of the Fifth Amendment Effective Date, the Borrowing Base is $375,000,000 and the Monthly Reduction is $0.00.
Redetermined Borrowing Base. This Amendment shall constitute notice of the Redetermination of the Borrowing Base pursuant to Section 3.04 of the Credit Agreement, and the Administrative Agent, the Lenders, Borrower and the Guarantors hereby acknowledge that effective as of the Fifth Amendment Effective Date, the Borrowing Base is $600,000,000, and such redetermined Borrowing Base shall remain in effect until the earlier of (i) the Scheduled Redetermination to occur on or about March 1, 2016 pursuant to Section 3.02, Section 3.03 and Section 3.04 of the Credit Agreement and (ii) the date such Borrowing Base is otherwise adjusted pursuant to the terms of the Credit Agreement. For the avoidance of doubt, the redetermination of the Borrowing Base contained in this Section 3 constitutes the Scheduled Redetermination, which otherwise would have occurred on or about August 1, 2015 pursuant to Section 3.02 of the Existing Agreement.
Redetermined Borrowing Base. This Amendment shall constitute notice of the Scheduled Redetermination to occur on or about May 1, 2016 pursuant to Section 2.08 of the Credit Agreement, and the Administrative Agent, the Lenders, the Borrower and the Guarantors hereby acknowledge that effective as of the Fourth Amendment Effective Date, the Borrowing Base shall be reduced from $88,000,000 to $75,000,000 and such redetermined Borrowing Base, which shall be deemed to be the May 1, 2016 Scheduled Redetermination, shall remain in effect until the earlier of (a) the next redetermination of the Borrowing Base or (b) the date such Borrowing Base is otherwise adjusted pursuant to the terms of the Credit Agreement.
Redetermined Borrowing Base. Pursuant to Section 2.07(c) of the Credit Agreement and notwithstanding any requirement in the Credit Agreement that in connection with the Scheduled Redetermination of the Borrowing Base to be effective April 1, 2014 based on the Reserve Report required to be delivered by March 1, 2014 evaluating the Oil and Gas Properties of the Borrowers and their Subsidiaries as of December 31, 2013 (or January 1, 2014) and any requirement that the Administrative Agent notify the Borrowers and Lenders of the Proposed Borrowing Base in a Proposed Borrowing Base Notice or advise the Borrowers and Lenders of a redetermined Borrowing Base in a New Borrowing Base Notice, the Administrative Agent hereby notifies the Borrowers that, from the Fifth Amendment Effective Date until the next Borrowing Base has been approved in accordance with Section 2.07(c) of the Credit Agreement, the Borrowing Base shall be $400,000,000. This Fifth Amendment constitutes notice to the Borrowers of the redetermined Borrowing Base for purposes of Section 2.07(c). As of the Fifth Amendment Effective Date the Aggregate Elected Commitment is $325,000,000. By its signature to this Agreement each Lender consents to the $400,000,000 redetermined Borrowing Base and acknowledges the $325,000,000 Aggregate Elected Commitment. Each Lender agrees that, subject to any changes in such Lender’s Applicable Percentage and/or Elected Commitment pursuant to Section 2.06(c) of the Credit Agreement, from the Fifth Amendment Effective Date until the next Borrowing Base redetermination such Lender’s Commitment shall be the least of (i) such Lender’s Maximum Credit Amount, (ii) such Lender’s Applicable Percentage of the redetermined Borrowing Base and (iii) such Lender’s Elected Commitment. For the sake of clarity, the next Scheduled Determination of the Borrowing Base shall be based on a Reserve Report as of June 30, 2014 (or July 1, 2014), which Reserve Report shall be delivered by September 1, 2014 in accordance with Section 8.12(a)(ii) of the Credit Agreement.
Redetermined Borrowing Base. This Amendment shall constitute the New Borrowing Base Notice in respect of a Scheduled Redetermination of the Borrowing Base pursuant to Section 2.14 of the Credit Agreement, and the Administrative Agent and the Required Lenders hereby notify the Borrower (and the Borrower hereby acknowledges) that effective as of the date hereof, the Borrowing Base shall be $3,000,000,000, and such redetermined Borrowing Base shall remain in effect until the earlier of (a) the next redetermination of the Borrowing Base pursuant to Section 2.14 of the Credit Agreement or (b) the date such Borrowing Base is otherwise adjusted pursuant to the terms of the Credit Agreement. Notwithstanding anything in Section 2.14 of the Credit Agreement, the Borrower, the Administrative Agent and the Required Lenders hereby agree that the New Borrowing Base Notice provided for in this Section 2 shall constitute the May 2020 Scheduled Redetermination, and shall not be considered or deemed to be an Interim Redetermination for purposes of Section 2.14 of the Credit Agreement.
Redetermined Borrowing Base. Pursuant to Section 2.9 of the Credit Agreement, Administrative Agent and Lenders hereby notify Borrower that, from the Effective Date until and including the next Determination Date, the Borrowing Base shall be $130,000,000. This Agreement constitutes notice to Borrower of the redetermined Borrowing Base for purposes of Section 2.9 and by its signature to this Agreement each Lender consents to the $130,000,000 redetermined Borrowing Base.
Redetermined Borrowing Base. This Amendment shall constitute notice of the Redetermination of the Borrowing Base pursuant to Section 3.02 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that the Borrowing Base is $3,000,000,000 as of the Tenth Amendment Effective Date and shall remain at $3,000,000,000 until the next Redetermination of the Borrowing Base. The Borrowers and the Lenders agree that the Redetermination provided for in this Section 2 shall be the October 1, 2012 Scheduled Redetermination and shall not be construed or deemed to be a Special Redetermination for purposes of Section 3.03 of the Credit Agreement.
Redetermined Borrowing Base. This Amendment shall constitute notice of the Redetermination of the Borrowing Base pursuant to Section 3.03 of the Credit Agreement (provided that the Borrower and the Lenders shall each retain the number of Special Redeterminations specified in Section 3.03 after giving effect to this Section 2), and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that as of the date hereof, the Borrowing Base is $2,000,000,000, until the next Redetermination of the Borrowing Base. Notwithstanding anything to the contrary herein or in the Credit Agreement, no Scheduled Redetermination of the Borrowing Base will be made prior to the Scheduled Redetermination to be made based on the Annual Engineering Report and other information and reports required to be delivered no later than April 1, 2011 pursuant to Section 3.01 of the Credit Agreement.
