Borrowing Base. Initial Borrowing Base Sample Clauses

Borrowing Base. Initial Borrowing Base. (a) For the period from and including the Effective Date to but excluding the first Redetermination Date occurring after the Effective Date, the amount of the Global Borrowing Base shall be US$1,075,000,000 and the amount of the U.S. Borrowing Base shall be US$850,000,000. Until reallocated in accordance with the Section 2.07 or 3.04 or otherwise required to be reduced hereunder, the Allocated U.S. Borrowing Base shall be US$775,000,000 and the Allocated Canadian Borrowing Base shall be US$300,000,000. Notwithstanding the foregoing, the Global Borrowing Base and U.S. Borrowing Base may be subject to further adjustments from time to time, whether before or after such Redetermination Date, pursuant to Section 8.12(c), Section 9.02(n) or Section 9.10.