Common use of Borrowing Base Requirements Clause in Contracts

Borrowing Base Requirements. The Borrower shall cause the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that if the requirements of the definition of Borrowing Base Requirements are not met at any time, then within five (5) Business Days of such failure either (i) the Borrower shall have cured such failure or (ii) the Borrower shall have delivered an updated Borrowing Base Certificate in form and substance reasonably acceptable to the Administrative Agent evidencing the reduction or removal of any applicable Eligible Property’s Borrowing Base Value from the Borrowing Base to the extent necessary to cause such failure to no longer exist.

Borrowing Base Requirements. The Borrower shall cause the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that if the requirements of the definition of Borrowing Base Requirements are not met at any time, then within five (5) Business Days after obtaining knowledge of such failure either (i) the Borrower shall have cured such failure or in accordance with Section 7.3(c) hereof and (ii) the Borrower shall have delivered an updated Borrowing Base Available Amount Certificate in form and substance reasonably acceptable to the Administrative Agent evidencing the reduction or removal of any applicable Eligible Property’s Borrowing Base Value from the Borrowing Base to the extent necessary to cause such failure to no longer exist.

Borrowing Base Requirements. The Borrower shall cause the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided provided, that if the requirements of the definition of Borrowing Base Requirements are not met at any time, then within five (5) Business Days after obtaining knowledge of such failure either (i) the Borrower shall have cured such failure or in accordance with Section 7.3(c) hereof and (ii) the Borrower shall have delivered an updated Borrowing Base Available Amount Certificate in form and substance reasonably acceptable to the Administrative Agent evidencing the reduction or removal of any applicable Eligible Property’s Borrowing Base Value from the Borrowing Base to the extent necessary to cause such failure to no longer exist.