Common use of Classification and Reclassification of Units; Adjustment of Borrowing Base Clause in Contracts

Classification and Reclassification of Units; Adjustment of Borrowing Base. The Lender may classify or reclassify Units as to type from time to time, or change Borrower's proposed classification of any and all Units, PROVIDED that such reclassified Unit meets the requirements set forth herein for that type of Unit.

Classification and Reclassification of Units; Adjustment of Borrowing Base. The Lender Bank may classify or reclassify Units as to type from time to time, or change Borrower's ’s proposed classification of any and all Units, PROVIDED provided that such reclassification shall be based upon the definitions of Spec Units, Presold Units and Model Units set forth herein and each such reclassified Unit meets shall meet the requirements set forth herein for that type of Unit. Effective as of the date that a Unit is reclassified as to type, such reclassification will give rise to a Reclassification Adjustment.

Classification and Reclassification of Units; Adjustment of Borrowing Base. The Lender may classify or reclassify Units as to type from time to time, or change Borrower's ’s proposed classification of any and all Units, PROVIDED provided that such reclassification shall be based upon the definitions of Spec Units, Presold Units and Model Units set forth herein and each such reclassified Unit meets shall meet the requirements set forth herein for that type of Unit. Effective as of the date that a Unit is reclassified as to type, such reclassification will give rise to a Reclassification Adjustment.

Classification and Reclassification of Units; Adjustment of Borrowing Base. The Lender may classify or reclassify Units as to type from time to time, or change Borrower's ’s proposed classification of any and all Units, PROVIDED provided that such reclassification shall be based upon the definitions of Spec Units, Presold Units and Model Units set forth herein and each such reclassified Unit meets shall meet the requirements set forth herein for that type of Unit.