ALLOCATION OF BORROWING BASE Sample Clauses

ALLOCATION OF BORROWING BASE. (a) The Borrowing Base may be allocated between the Company under this Agreement and Forest under the U.S. Credit Agreement. The Allocated U.S. Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans and Letters of Credit (subject to the aggregate Commitments and the other provisions of the U.S. Credit Agreement) that the U.S Lenders will extend to Forest at any one time prior to the "Commitment Termination Date" specified in the U.S. Credit Agreement. The Allocated Canadian Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans, Letters of Credit and Bankers' Acceptances (subject to the aggregate Commitments and the other provisions of this Agreement) that the Lenders will extend to the Company at any one time prior to the Commitment Termination Date. On the date of Amendment No. 1, the Allocated Canadian Borrowing Base shall be $100,000,000, resulting in an initial Allocated U.S. Borrowing Base of $30,000,000.
Sample 1
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ALLOCATION OF BORROWING BASE. (a) The Borrowing Base may be allocated between the Lender under the Funding Credit Agreement (which shall be the Borrowing Base for the purpose of this Agreement) and Forest under the U.S. Credit Agreement. The Allocated U.S. Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans and Letters of Credit (subject to the aggregate Commitments and the other provisions of the U.S. Credit Agreement) that the U.S Lenders will extend to Forest at any one time prior to the "Commitment Termination Date" specified in the U.S. Credit Agreement. The Allocated Canadian Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans, Letters of Credit and Bankers' Acceptances (subject to the aggregate Commitments and the other provisions of this Agreement) that the Canadian Lenders will extend to the Lender (and therefor the maximum amount of credit in the form of Loans and Letter of Credit Liabilities that the Lender will extend the Borrowers) at any one time prior to the "Commitment Termination Date" specified in the Funding Credit Agreement. On the date of Amendment No. 1, the Allocated Canadian Borrowing Base shall be $100,000,000, resulting in an initial Allocated U.S. Borrowing Base of $30,000,000.
Sample 1
ALLOCATION OF BORROWING BASE. The Lenders have agreed among themselves to reallocate their respective Commitments and to allow Key Bank, Fortis Capital Corp., Washington Mutual Bank, FA and Xxxxx Fargo Bank, NA (collectively, the “June 2004 New Lenders”) to acquire an interest in the Commitments and the Loans. After such reallocation of the Commitments, on the date hereof, the Lenders shall own the Commitment Percentages set forth on Annex A to the Credit Agreement. With respect to such reallocation, each of the June 2004 New Lenders shall be deemed to have acquired the Commitments and Loans allocated to them from each of the Lenders pursuant to the terms of the Assignment and Acceptance Agreement attached as Exhibit E to the Credit Agreement as if the June 2004 New Lenders and the Lenders had executed an Assignment and Acceptance Agreement with respect to such allocation. Each Lender shall surrender its existing Note and be issued a new Note in a face amount equal to each Lender’s Commitment Percentage times $250,000,000. Each said Note to be in the form of Exhibit ”B” to the Credit Agreement with appropriate insertions. The funds delivered to Agent by each of the June 2004 New Lenders to acquire an interest in the Commitments and the Loans shall be allocated such that after giving effect to such allocation and payment each of the Lender’s shall own the Commitment Percentages set forth on Annex A to the Credit Agreement.
Sample 1
ALLOCATION OF BORROWING BASE. 39 Section 3. Payments of Principal and Interest. . . . . . . . . . . . . . . 40
Sample 1
ALLOCATION OF BORROWING BASE. (a) The Borrowing Base may be allocated between the Company under this Agreement and Funding Co. (or, if the Canadian Lenders are making loans directly to Canadian Forest Oil, Canadian Forest Oil) under the Funding Credit Agreement. The Allocated U.S. Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans and Letters of Credit (subject to the aggregate Commitments and the other provisions of this Agreement) that the Banks will extend to the Company at any one time prior to the Commitment Termination Date. The Allocated Canadian Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans, Letters of Credit and Bankers' Acceptances (subject to the aggregate Commitments and the other provisions of the Funding Credit Agreement) that the Canadian Lenders will extend to Funding Co. (or, if the Canadian Lenders are making loans directly to Canadian Forest Oil, Canadian Forest Oil) at any one time prior to the "Commitment Termination Date" specified in the Funding Credit Agreement. On the date hereof, the Allocated Canadian Borrowing Base shall be $10,000,000, resulting in an initial Allocated U.S. Borrowing Base of $250,000,000.
Sample 1
ALLOCATION OF BORROWING BASE. (a) The Borrowing Base may be allocated between the Company under this Agreement and Funding Co. under the Funding Credit Agreement. The Allocated U.S. Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans and Letters of Credit (subject to the aggregate Commitments and the other provisions of this Agreement) that the Banks will extend to the Company at any one time prior to the Commitment Termination Date. The Allocated Canadian Borrowing Base in effect from time to time shall represent the maximum amount of credit in the form of Loans, Letters of Credit and Bankers' Acceptances (subject to the aggregate Commitments and the other provisions of the Funding Credit Agreement) that the Canadian Lenders will extend to Funding Co. at any one time prior to the "Commitment Termination Date" specified in the Funding Credit Agreement. On the date of Amendment No. 2, the Allocated Canadian Borrowing Base shall be $100,000,000, resulting in an initial Allocated U.S. Borrowing Base of $30,000,000.
Sample 1

Related to ALLOCATION OF BORROWING BASE

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.8.2 [Capital Requirements] and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Manner of Borrowing Loans and Designating Applicable Interest Rates Notice to the Administrative Agent 9

  • Adjustments of Borrowings upon Effectiveness of Increase On the Commitment Increase Date, the Borrower shall (A) prepay the outstanding Loans (if any) of the affected Class in full, (B) simultaneously borrow new Loans of such Class hereunder in an amount equal to such prepayment; provided that with respect to subclauses (A) and (B), (x) the prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders, the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the Administrative Agent, so that, after giving effect thereto, the Loans of such Class are held ratably by the Lenders of such Class in accordance with the respective Commitments of such Class of such Lenders (after giving effect to such Commitment Increase) and (C) pay to the Lenders of such Class the amounts, if any, payable under Section 2.15 as a result of any such prepayment. Concurrently therewith, the Lenders of such Class shall be deemed to have adjusted their participation interests in any outstanding Letters of Credit of such Class so that such interests are held ratably in accordance with their commitments of such Class as so increased.

  • Manner of Borrowing and Funding Revolver Loans Borrowings under the Commitments established pursuant to Section 1.1 hereof shall be made and funded as follows:

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