Automatic Borrowing Base and Commitment Reductions Clause Samples

Automatic Borrowing Base and Commitment Reductions. On the dates set forth in the table below, if the Borrowing Base in effect on such date is greater than the Borrowing Base set forth below opposite such date (subject to the adjustment of such amounts in the table below by the Required Lenders as described in this clause (i)), the Borrowing Base then in effect and the Commitments shall be automatically permanently reduced to the amount set forth opposite such date: