Borrowing Base Pool Leverage Sample Clauses

Borrowing Base Pool Leverage. As at the end of any fiscal quarter or any other date of measurement, the Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed 60% the aggregate Value of Eligible Borrowing Base Properties.

Borrowing Base Pool Leverage. 10.5 is deleted in its entirety and the following is substituted in lieu thereof:

Borrowing Base Pool Leverage. At all times, as tested at the end of each fiscal quarter and any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2011, the Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iii) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter.

Borrowing Base Pool Leverage. AsAt all times, as tested at the end of anyeach fiscal quarter ▇▇▇▇▇ any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2010, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-seven and one-half of one percent (67.5%) of the aggregate Value of Eligible Borrowing Base Properties, (ii) from the fiscal quarter ending March 31, 2011 through the fiscal quarter ending December 31, 2011, the Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties, (iii) from the on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iviii) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties. on the last day of such fiscal quarter.

Borrowing Base Pool Leverage. As at the end of any fiscal quarter or any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2010, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-seven and one-half of one percent (67.5%) of the aggregate Value of Eligible Borrowing Base Properties, (ii) from the fiscal quarter ending March 31, 2011 through the fiscal quarter ending December 31, 2011, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties, (iii) from the fiscal quarter ending March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties, and (iv) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties.” (p) 10.6 of the Credit Agreement is hereby deleted in its entirety and the following substituted in lieu thereof:

Borrowing Base Pool Leverage. As at the end of (i) the fiscal quarter ending September 30, 2007, the Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed 76% the aggregate Value of Eligible Borrowing Base Properties and (ii) any fiscal quarter ending on or after December 31, 2007 or any other date of measurement, the Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed 70% the aggregate Value of Eligible Borrowing Base Properties. (c) Section 10.6 of the Credit Agreement is amended to read in its entirety as follows:

Borrowing Base Pool Leverage. At all times, as tested at the end of each fiscal quarter and any other date of measurement, (i) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Consolidated Borrowing Base Indebtedness shall not exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2013 through the fiscal quarter ending June 30, 2013, Consolidated Borrowing Base Indebtedness shall not exceed sixty-two and one half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iii) for each fiscal quarter ending on or after September 30, 2013, Consolidated Borrowing Base Indebtedness shall not exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter.”