Borrowing Base Determination. Until the Revolving Credit Termination Date:
Borrowing Base Determination. Notwithstanding the following provisions of this Section, the Borrowing Base shall be as set forth on Schedule 2.06 attached hereto, as further reduced from time to time by the mandatory prepayments made pursuant to Section 2.08 hereof, from the date of Closing until the earlier of: (a) October 1, 2000, (b) the occurrence of an Event of Default, or (c) any unscheduled Borrowing Base redetermination initiated by the Agent and approved by the Required Banks based on a substantive, adverse change in economic conditions generally applicable to independent producers operating in, and/or oil and gas properties located in, the Texas/Louisiana Gulf Coast and/or the Gulf of Mexico Outer Continental Shelf. Thereafter, the Borrowing Base shall be determined pursuant to the following provisions of this Section. On or before September 1, 2000, the Borrower shall furnish to the Agent information sufficient to update to an effective date of June 1, 2000, the most recent petroleum engineering reports provided to the Agent prior to Closing relative to the Proved Reserves attributable to the Borrowing Base Oil and Gas Properties. Upon receipt of such report, the Agent shall, in the normal course of business make a determination of the Borrowing Base and the Monthly Borrowing Base Reduction which shall become effective upon approval by the Required Banks and subsequent written notification from the Agent to the Borrower, and which, subject to the other provisions of this Agreement, shall be the basis on which the Borrowing Base shall thereafter be calculated until the effective date of the next redetermination of the Borrowing Base and the Monthly Borrowing Base Reduction as set forth in this Section. Thereafter, on or before each April 1 and October 1 until the Facility Termination Date, beginning April 1, 2001, the Borrower shall furnish to the Agent a report, in form and substance satisfactory to the Agent, which report shall set forth, as of each preceding January 1 or July 1, as applicable, the Proved Reserves attributable to the Borrowing Base Oil and Gas Properties. Each report to be provided on or before each April 1 shall be a complete report relating to the Proved Reserves attributable to the Borrowing Base Oil and Gas Properties prepared by an independent petroleum engineer or firm of engineers reasonably satisfactory to the Agent. Each report to be provided on or before each October 1 shall simply update the previous complete report, and may be prepared by the Bo...
Borrowing Base Determination. (a) The Borrower shall deliver, as soon as available and in any event not later than twenty days after the end of each fiscal month, a Borrowing Base Certificate as of the end of such fiscal month executed by a Responsible Officer of the Borrower. During a Liquidity Event Period, the Borrower shall deliver, as soon as available and in any event not later than five Business Days after the end the last day of each week, an additional Borrowing Base Certificate as of the end of such period (containing available updated figures for Eligible Accounts) executed by a Responsible Officer of the Borrower.
Borrowing Base Determination. (a) The Borrower shall deliver, as soon as available and in any event not later than twenty days after the end of each fiscal month, a Borrowing Base Certificate as of the end of such fiscal month executed by a Responsible Officer of the Borrower. During a Liquidity Event Period, the Borrower shall deliver, as soon as available and in any event not later than five Business Days after the end the last day of each week, an additional Borrowing Base Certificate as of the end of such period (containing available updated figures for Eligible Accounts, Eligible Inventory and Eligible Medicaid Supplemental Payments) executed by a Responsible Officer of the Borrower.
Borrowing Base Determination. (a) The Borrower shall conduct, or shall cause to be conducted, at its expense, and upon request of the Agent, and shall present to the Agent for approval, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of confirming the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested. The Borrower shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing Base including, without limitation, correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligors.
Borrowing Base Determination. (a) The Company may deliver from time to time a Borrowing Base Certificate, but in any event shall deliver a Borrowing Base Certificate (i) as soon as available but in any event not later than 15 days after the end of each fiscal month, (ii) during a Liquidity Event Period or if an Event of Default has occurred and is continuing, not later than 5 days after the end the last day of each week (containing available updated figures for Eligible Receivables but not, unless otherwise available, Eligible Inventory) and (iii) as soon as available, but in any event not later than 2 Business Days after the sale of any Receivables and Related Assets in connection with a Receivables Facility that comprise any portion of the Borrowing Base (containing available updated figures for Eligible Receivables but not, unless otherwise available, Eligible Inventory), in each case, executed by a Responsible Officer of the Company. Prior to the delivery of the first Borrowing Base Certificate pursuant to this Section 10.17(a), the most recent “Borrowing Base Certificate” delivered to the Administrative Agent by the Company pursuant to the Original Credit Agreement shall be in effect.
Borrowing Base Determination. (a) No later than 15 days after the last day of each calendar month or more frequently as requested by the Administrative Agent, a Borrowing Base Certificate as of the first day of such month executed by a Responsible Officer of the Borrower. The Borrower agrees that each Borrowing Base Certificate delivered by the Borrower shall be accompanied by appropriate supporting data and shall not be deemed delivered until verified by the Administrative Agent to the Administrative Agent's satisfaction. Upon verification by the Administrative Agent, each Borrowing Base Certificate shall be deemed delivered for purposes of determining the Borrowing Base as of the date of its actual delivery. The Borrower agrees that the Administrative Agent in the process of its verification may determine, in its reasonable discretion, the particular category to which any Borrowing Base Asset belongs.
Borrowing Base Determination. (a) The Borrowers shall deliver, as soon as available and in any event not later than Wednesday of each week, a Borrowing Base Certificate setting forth the Borrowing Base of each Borrower and its Eligible Subsidiaries and the Aggregate Borrowing Base as of the end of the previous week executed by a Responsible Officer of each Borrower.
Borrowing Base Determination. (a) The Borrower and each Guarantor shall conduct, or shall cause to be conducted, at its expense, and upon request of the Agent, and present to the Agent for approval, such appraisals, investigations or reviews as the Agent shall reasonably request for the purpose of determining the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested. The Borrower and each Guarantor shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing Base including, without limitation, correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligors.
Borrowing Base Determination. (a) The Borrowers shall furnish to the Administrative Agent no later than Wednesday of each week or more frequently as may be requested by the Administrative Agent, a Borrowing Base Certificate for each Borrower as of the immediately preceding Friday (or the relevant third preceding Business Day if requested more frequently) executed by a Responsible Officer of each Borrower together with reasonably detailed supporting information and documentation acceptable to the Administrative Agent. The Administrative Agent shall make reasonable efforts to furnish to the Lenders a copy of each Borrowing Base Certificate following receipt thereof from the Borrowers; provided, however, that failure to furnish such a copy will not give rise to a claim or remedy by the Lenders against the Administrative Agent.
