Borrowing Base Valuation Clause Samples

Borrowing Base Valuation. Agent will determine the Borrowing Base Amount from time to time (each such date, a “Borrowing Base Valuation Date”), including, without limitation, (i) as of the Closing Date, (ii) as of the end of each Fiscal Quarter based upon the Financial Statements and Borrowing Base Certificate provided pursuant to Sections 4.2 and 4.3, and (iii) upon receipt of any new or updated Acceptable Appraisal ordered by Agent. If Borrower fails to provide Agent with the required Financial Statements or a Borrowing Base Certificate for any quarter pursuant to Sections 4.2 and 4.3 (and fails to cure such breach within the cure period set forth in Section 6.1(d), if applicable), Agent and Required Lenders may, in their sole discretion, elect to deem the Total Borrowing Base Value to be zero dollars until such Financial Statements and Borrowing Base Certificate are provided to Agent.