Common use of Borrowing Base Determination Clause in Contracts

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. (b) The Borrower shall promptly notify the Agent in writing in the event that at any time the Borrower, any Guarantor or any of their Subsidiaries receives or otherwise gains knowledge that the Borrowing Base is less than 110% of the Revolving Credit Commitments.