Common use of Borrowing Base Reductions Clause in Contracts

Borrowing Base Reductions. (i) If the sum of (A) the Recognized Value of the aggregate of Asset Dispositions occurring in any period between Scheduled Redeterminations, plus (B) the Recognized Value of Swap Terminations occurring in the same period exceeds 5% of the then effective Borrowing Base, then the Borrowing Base shall be reduced in an amount determined by the Administrative Agent in its discretion in accordance with the standards set forth in Section 2.07(a) taking into account both Recognized Value or attributed value of such Asset Dispositions and the Recognized Value given to such Swap Agreements. Any redetermination of the Borrowing Base pursuant to this Section 2.07(e) shall not be considered an Interim Redetermination requested by Administrative Agent within the meaning of Section 2.07(b).

Borrowing Base Reductions. (i) If the sum of (A) the Recognized Value Borrowing Base value of the aggregate of Asset Dispositions dispositions of Oil and Gas Properties and Equity Interests occurring in any period between Scheduled Redeterminations, plus (B) the Recognized Value Borrowing Base value of Swap Terminations occurring in the same period exceeds 5% of the then effective Borrowing Base, then the Borrowing Base shall be reduced in an amount determined by the Administrative Agent in its discretion in accordance with the standards set forth in Section 2.07(a) taking into account both Recognized Value Borrowing Base value or attributed value of such Asset Dispositions dispositions and the Recognized Value Borrowing Base value given to such Swap Agreements. Any redetermination of the Borrowing Base pursuant to this Section 2.07(e2.07(e)(i) shall not be considered an Interim Redetermination requested by the Administrative Agent within the meaning of Section 2.07(b).