Common use of Borrowing Base Redetermination Clause in Contracts

Borrowing Base Redetermination. For the period from and including the Second Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be $13,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to the terms of the Credit Agreement. For the avoidance of doubt, the redetermination effected pursuant to this Section 3 shall constitute the October 1, 2013 Scheduled Redetermination and the next Scheduled Redetermination shall be the May 1, 2013 Scheduled Redetermination.

Appears in 1 contract

Samples: Credit Agreement (Santa Maria Energy Corp)

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Borrowing Base Redetermination. For the period from and including the Second Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $13,000,000565,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to the terms Section 2.07(e), Section 2.07(f), Section 8.13(c) or Section 9.12(d) of the Credit Agreement. For the avoidance of doubt, the redetermination effected pursuant to this Section 3 herein shall constitute the October April 1, 2013 Scheduled Redetermination and the next Scheduled Redetermination shall be the May 1, 2013 Scheduled Redetermination.2012

Appears in 1 contract

Samples: Credit Agreement (Legacy Reserves Lp)

Borrowing Base Redetermination. For the period from and including the Second Amendment Effective Date (as defined below) to but excluding the next Redetermination Date, (i) the amount of the Borrowing Base shall be $13,000,00025,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to the terms of the Credit AgreementSection 2.07(e), Section 8.13(c) or Section 9.12(d). For the avoidance of any doubt, the this Borrowing Base redetermination effected pursuant to this Section 3 shall constitute the October April 1, 2013 Scheduled Redetermination and the next Scheduled Redetermination shall be the May October 1, 2013 Scheduled Redetermination2013.

Appears in 1 contract

Samples: Credit Agreement (Us Energy Corp)

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Borrowing Base Redetermination. For the period from and including the Second Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $13,000,0002,400,000,000.00. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to the terms Section 2.07, Section 8.13(c), Section 9.02(i), Section 9.12, Section 9.17 or Section 9.18 of the Credit Agreement. For the avoidance of doubt, the redetermination effected pursuant to this Section 3 herein shall not constitute the October 1, 2013 a Scheduled Redetermination and the next Scheduled Redetermination shall be the May 1, 2013 Scheduled or Interim Redetermination.

Appears in 1 contract

Samples: Credit Agreement (SM Energy Co)

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