Borrowing Base Limit. The Borrower and the Lenders agree:
(a) as of the Closing, the Borrowing Base Limit is set at Cdn. $400,000,000; and
(b) the Borrowing Base Limit referred to in Section 8.2(a) shall be subject to adjustment and redetermination as provided for in this Article 8.
Borrowing Base Limit. Each Lender agrees pursuant to Section 7.1(a) of the Credit Agreement to increase the Borrowing Base Limit from Cdn. $300,000,000 to Cdn. $400,000,000.
Borrowing Base Limit. Each Lender confirms pursuant to Section 7.1 of the Credit Agreement that the Borrowing Base Limit continues to be Cdn. $275,000,000.
Borrowing Base Limit. 7.1 Annual Determination of Borrowing Base Limit
7.2 Borrowing Base Limit 61 7.3 Sale of Borrowing Base Properties to Third Parties 62
Borrowing Base Limit. 7.1 Annual Determination of Borrowing Base Limit
Borrowing Base Limit. Notwithstanding any other provision of this Agreement, and except as permitted under Section 4.2 below, at no time will the amount advanced by the Bank under Facility Number 1 or the face amount of Documentary Letters of Credit issued under Facility Number 2 exceed the lesser of (i) the Excess Borrowing Base Amount or (ii) the stated amount of each Facility (i.e., $17,500,000 under Facility 1 and $15,000,000 under Facility 2). The Bank may reject any request for advances or issuance of letters of credit if, as a result of such advance or letter of credit issuance, the amount outstanding under either Facility Number 1 or Facility Number 2 exceeds the limits stated above. The Bank may also demand payment of any amount necessary to place the Company in compliance with the above limits, in which event the Company shall immediately pay such amount to the Bank.
Borrowing Base Limit. (1) No advance by the Bank will be made to the Borrower if at the time thereof the aggregate principal and interest outstanding on the Credit Facility would, or by the making of such advance, exceed the Borrowing Base Limits.
(2) The Borrower will provide to the Bank an accounts receivable aging report and an inventory report, on or before the 10th day of each month, with respect to the last preceding calendar inventory report, on or before the 10th day of each month. Such report shall be in form and content acceptable to the Bank.
(3) If, at any time, the aggregate principal and interest outstanding on the Credit Facility exceeds the Borrowing Base Limit the Borrower will make an immediate repayment to the Bank in reduction of the balance outstanding on the Line to eliminate such excess.
Borrowing Base Limit. The sum of all outstanding amounts due and owing under the Credit Facilities (after giving effect to any amount requested under the Revolving Loan) shall not exceed the Borrowing Base (the "Borrowing Base Limit"). If, at any time, the Borrower exceeds the Borrowing Base Limit, then, without any requirement of demand or notice from the Lender, the Borrower shall immediately pay to the Lender the amount of such excess.
Borrowing Base Limit. Should the aggregate principal amount of the outstanding Loans at any time exceed the Borrowing Base at such time, the Company shall immediately repay such excess to the Administrative Agent, for the account of the Banks.
Borrowing Base Limit. Each Lender agrees pursuant to Section 7.1 of the Credit Agreement to maintain the Borrowing Base Limit at Cdn. $300,000,000 until the completion of the Questfire Transaction, whereupon the Borrowing Base Limit will be adjusted under Section 7.3(b)(ii) of the Credit Agreement to Cdn. $230,000,000. In the event that the Questfire Transaction is not completed, the Borrowing Base Limit shall remain at Cdn. $300,000,000 until the Borrowing Base Limit is redetermined in accordance with Article 7 of the Credit Agreement.
