Common use of Borrowing Base Adjustments Clause in Contracts

Borrowing Base Adjustments. The Company agrees that if at any time any trade account receivable or any inventory of the Company fails to constitute an Eligible Account Receivable or Eligible Inventory, as the case may be, for any reason, the Agent may, at any time and notwithstanding any prior classification of eligibility, classify such asset or property as ineligible and exclude the same from the computation of the Borrowing Base without in any way impairing the rights of the Banks and the Agent in and to the same under the Security Agreement.

Borrowing Base Adjustments. The Company agrees that if at any time any trade account receivable or any inventory of the Company or any of its Subsidiaries fails to constitute an Eligible Account Receivable or Eligible Inventory, as the case may be, be for any reason, the Administrative Agent may, at any time and notwithstanding any prior classification of eligibility, classify such asset or property as ineligible and exclude the same from the computation of the Borrowing Base without in any way impairing the rights of the Collateral Agent for the benefit of the Banks and the Agent in and to the same under the Security Agreement.

Borrowing Base Adjustments. The Company agrees that if at any time any trade account receivable or any inventory of the Company or any Guarantor fails to constitute an Eligible Account Accounts Receivable or Eligible Inventory, as the case may be, for any reason, the Agent may, at any time upon written notice to the Company and notwithstanding any prior classification of eligibility, classify such asset or property as ineligible and exclude the same from the computation of the Borrowing Base without in any way impairing the rights of the Banks and Base. Additionally, the Agent in and to the same under the Security Agreement.may