Common use of Compliance with Borrowing Base Clause in Contracts

Compliance with Borrowing Base. If at any time during the term of this Agreement, the Borrower obtains knowledge that the total principal amount of all Advances outstanding exceeds the Line of Credit Limit or the Borrowing Base whichever is less, the Borrower shall immediately reduce the principal amount of the Advances outstanding at that time by an amount equal to such excess.

Compliance with Borrowing Base. If at any time during the term of this Agreement, the Borrower obtains knowledge that the total principal amount of all Advances outstanding exceeds the Line of Credit Limit or the Borrowing Base whichever is lessLimit, the Borrower shall immediately reduce the principal amount of the Advances Advance outstanding at that time by an amount equal to such the excess.