Collateral Borrowing Base Deficiency. Should the sum of the (i) unpaid outstanding principal balance of the Revolver Notes at any time prior to maturity plus all other Indebtedness be greater than the Collateral Borrowing Base in effect at such time (a "Deficiency"), Agent may notify Borrowers in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice Borrowers shall notify Agent in writing of its election to:
Appears in 2 contracts
Samples: Revolver Loan Agreement (Energy 11, L.P.), Revolver Loan Agreement (Energy Resources 12, L.P.)
Collateral Borrowing Base Deficiency. Should the sum of the (i) unpaid outstanding principal balance of the Revolver Notes Note at any time prior to maturity plus all other Indebtedness be greater than the Collateral Borrowing Base in effect at such time (a "Deficiency"), Agent Bank may notify Borrowers Borrower in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice Borrowers Borrower shall notify Agent Bank in writing of its election to:
Appears in 2 contracts
Samples: Senior Revolver Loan Agreement (Empire Petroleum Corp), Revolver Loan Agreement (Viking Investments Group, Inc.)
Collateral Borrowing Base Deficiency. Should the sum of the (i) unpaid outstanding principal balance of the Revolver Notes Note at any time prior to maturity plus all other outstanding Indebtedness be greater than the Collateral Borrowing Base in effect at such time (a "Borrowing Base Deficiency"), Agent Bank may notify Borrowers in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice Borrowers shall notify Agent Bank in writing of its their election to:
Appears in 1 contract
Collateral Borrowing Base Deficiency. Should the sum of the (i) unpaid outstanding principal balance of the Revolver Notes Note at any time prior to maturity plus all other Indebtedness be greater than the Collateral Borrowing Base in effect at such time (a "“Deficiency"”), Agent Bank may notify Borrowers Borrower in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice Borrowers Borrower shall notify Agent Bank in writing of its election to:
Appears in 1 contract
Samples: Revolver Loan Agreement (Viking Energy Group, Inc.)
Collateral Borrowing Base Deficiency. Should the sum of the (i) unpaid outstanding principal balance of the Revolver Notes Note at any time prior to maturity plus all other Indebtedness be greater than the Collateral Borrowing Base in effect at such time (a "“Deficiency"”), Agent Bank may notify Borrowers in writing of the deficiency. Within fifteen (15) days from and after the date of any such deficiency notice Borrowers shall notify Agent Bank in writing of its election to:
Appears in 1 contract
