Borrowing Base Certificate and Collateral Reports Sample Clauses

Borrowing Base Certificate and Collateral Reports. Borrower shall have delivered to Agent a completed Borrowing Base Certificate dated as of a date at least as recent as that required under Section 6.1(a)(vii), in form and substance satisfactory to Agent, together with the related collateral reports and information required under Section 6.1(a)(vii), and the statements contained therein shall be true and correct on and as of the date thereof. The giving of any Notice of Borrowing and the acceptance by Borrower of the proceeds of a Borrowing shall each be deemed a certification to Agent and Lenders that on and as of the date of such Borrowing such statements are true and correct as of the date of such Borrowing Base Certificate and that any changes in the information set forth therein have been only in the ordinary course of business.
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Borrowing Base Certificate and Collateral Reports. The Borrower shall have delivered to the Agent the completed Borrowing Base Certificate, together with the related collateral reports, required under Section 10.01(a), and the statements contained therein shall be true, correct and complete on and as of the date of such Borrowing as though made on and as of such date. The giving of any Notice of Borrowing or Notice of Conversion or Continuation, as the case may be, the submission of any L/C Application or L/C Amendment Application, and the acceptance by the Borrower of the proceeds of a Borrowing, shall each be deemed a certification to the Agent and the Lenders that on and as of the date of the Credit Extension such statements are true, correct and complete.
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Borrowing Base Certificate and Collateral Reports. (i) Within fifteen (15) days of the end of each month in which Loans or Letters of Credit are outstanding, a Borrowing Base Certificate, and reports identifying all of Borrower's Accounts, such reports to be in form and substance satisfactory to Lender and in such detail as Lender shall request, including in any event, the aging and reconciliation of such Accounts showing the total amount due from each account debtor and the month in which each Account was created;
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Borrowing Base Certificate and Collateral Reports. As a condition precedent to the obligation of the Bank to make any Loan following the breach of any financial covenant contained in Section 10.02, the Borrower shall, if requested by the Bank, deliver to the Bank a completed Borrowing Base Certificate, together with the related collateral reports, required under Section 10.01(a), and the statements contained therein shall be true, correct and complete on and as of the date of such Loan as though made on and as of such date, except for changes in the information set forth in such Borrowing Base Certificate in the ordinary course of business. The giving of any Notice of Borrowing and the acceptance by the Borrower of the proceeds of a Loan shall each be deemed a certification to the Bank that on and as of the date of such Loan such statements are true, correct and complete, except for changes in the information set forth in such Borrowing Base Certificate in the ordinary course of business.
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Related to Borrowing Base Certificate and Collateral Reports

  • Borrowing Base Certificates Prior to the occurrence of a Reporting Trigger Event (and after a Reporting Trigger Event has not existed for 30 consecutive days), Borrowers shall, by the 12th Business Day of each month, deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of the previous month, and at such other times as Agent may reasonably request. After the occurrence of a Reporting Trigger Event and until such time as a Reporting Trigger Event has not existed for 30 consecutive days, Borrowers shall, on or before 10:00 p.m. on the second Business Day of each week, deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of Friday of the immediately preceding week, and at such other times as Agent may reasonably request. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrowers and signed by a Senior Officer or the Controller of Borrower Agent or its general partner, provided that Agent may in its Permitted Discretion from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the Dominion Account or otherwise; and (b) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserve. Furthermore, Borrower shall, on or before the Inventory Structuring Transaction Commencement Date applicable to each Permitted Inventory Structuring Transaction, deliver to Agent (and Agent shall deliver to Lenders) an updated Borrowing Base Certificate prepared as of the close of business of the month immediately preceding such Inventory Structuring Transaction Commencement Date, adjusted to exclude from the Borrowing Base (i) all Accounts of such Inventory Structuring Subsidiary owed by the applicable Inventory Structuring Counterparty, (ii) all Accounts of such Inventory Structuring Subsidiary which constitute or consist of insurance proceeds of any Hydrocarbon Inventory at any Inventory Structuring Location or any proceeds of such insurance proceeds, (iii) all Inventory of such Inventory Structuring Subsidiary at any Inventory Structuring Location, and (iv) without duplication of the foregoing, any cash or Cash Equivalents pledged to secured the obligations with respect to such Permitted Inventory Structuring Transaction. On or after the Inventory Structuring Transaction Termination Date with respect to any Permitted Inventory Structuring Transaction, Borrower Agent may deliver to Agent (and Agent shall deliver to Lenders) an updated Borrowing Base Certificate prepared as of the close of business of the immediately preceding month, adjusted to include in the Borrowing Base any Collateral previously excluded solely as a result of being subject to such Permitted Inventory Structuring Transaction, together with a certificate certifying that the Inventory Structuring Transaction Termination Date with respect to such Permitted Inventory Structuring Transaction has occurred, and such Collateral shall be eligible for inclusion in the Borrowing Base (subject to the requirements otherwise set forth in this Agreement).

  • Borrowing Base Certificate The Administrative Agent shall have received a Borrowing Base Certificate which calculates the Borrowing Base as of the end of the month immediately preceding the Effective Date.

  • Initial Borrowing Base Certificate Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts and Eligible Inventory of Borrower as of a date not more than seven (7) days prior to the Closing Date.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Collateral Reports Borrower shall deliver or cause to be delivered the following:

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Execution of Loan Documents; Borrowing Base Certificate The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents, including, without limitation, the Borrowing Base Certificates and the Compliance Certificates. Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.

  • Agreements Regarding Collateral and Field Examination Reports (ll) Lien Releases;

  • Compliance Certificate and Opinions Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers' Certificate stating that all conditions precedent (including covenants compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including covenants compliance with which constitutes a condition precedent), if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the certificates provided pursuant to Section 10.4) shall include:

  • Borrowing Base Compliance After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.

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