Delegation of Authority to Agent. Without limiting the generality of SECTION 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (i) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such advance rates do not at any time exceed the rates set forth in the Borrowing Base definition, (ii) the creation or elimination of any reserves (other than the Letter of Credit Reserve) against the Revolving Credit Facility and the Borrowing Base, and (iii) whether or not Inventory or Receivables shall be deemed to constitute Eligible Inventory, Eligible In-Transit Inventory, or Eligible Receivables. Such authorization may be withdrawn by the Required Lenders by giving the Agent written notice of such withdrawal signed by the Required Lenders; PROVIDED, HOWEVER, that unless otherwise agreed by the Agent such withdrawal of authorization shall not become effective until the thirtieth Business Day after receipt of such notice by the Agent. Thereafter, the Required Lenders shall jointly instruct the Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine. Unless and until the Agent shall have received written notice from the Required Lenders as to the existence of a Default, an Event of Default or some other circumstance which would relieve the Lenders of their respective obligations to make Loans hereunder, which notice shall be in writing and shall be signed by the Required Lenders and shall expressly state that the Required Lenders do not intend to make available to the Agent such Lenders' Ratable share of Loans made after the effective date of such notice, the Agent shall be entitled to continue to make the assumptions described in SECTION 4.7(B). The notice described in the preceding sentence shall become effective on the third Business Day after receipt of such notice by the Agent unless otherwise agreed by the Agent. The Agent shall not be required to make any Loan as to which it shall have received notice by a Lender of such Lender's intention not to make its Ratable portion of such Loan available to the Agent. Any withdrawal of authorization under this SECTION 4.7(C) shall not affect the validity of any Loans made (or Letters of Credit issued) prior to the effectiveness thereof.
Delegation of Authority to Agent. (i) Without limiting the generality of Section 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (A) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such advance rates do not at any time exceed the rates set forth in the Borrowing Base definition, (B) the creation or elimination of any reserves (other than the Letter of Credit Reserve and the Minimum Excess Availability Reserve) under the Revolving Credit Facility and the Borrowing Base, and (C) whether or not Inventory shall be deemed to constitute Eligible Inventory. Such authorization may be withdrawn by the Required Lenders by giving the Agent written notice of such withdrawal signed by the Required Lenders; provided, however, that unless otherwise agreed by the Agent such withdrawal of authorization shall not become effective until the thirtieth (30th) Business Day after receipt of such notice by the Agent. Thereafter, the Required Lenders shall jointly instruct the Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine.
Delegation of Authority to Agent. (i) Without limiting the generality of SECTION 10, each Lender expressly authorizes Agent to determine on behalf of such Lender the creation or elimination of any reserves (other than the reserves established with respect to Letter of Credit Obligations) against the Revolving Credit Facility. Such authorization may be withdrawn by the Required Lenders by giving Agent written notice of such withdrawal signed by the Required Lenders; PROVIDED, HOWEVER, that unless otherwise agreed by Agent such withdrawal of authorization shall not become effective until the thirtieth (30th) Business Day after receipt of such notice by Agent. Thereafter, the Required Lenders shall jointly instruct Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine.
Delegation of Authority to Agent. Without limiting the generality of SECTION 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (i) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such
Delegation of Authority to Agent by deleting the phrase “30th Business Day” appearing therein and substituting therefor the phrase “5th Business Day”;
Delegation of Authority to Agent. (i) Without limiting the generality of Article 10, each Lender expressly authorizes Agent to determine on behalf of such Lender the creation or elimination of any reserves against the Credit Facility. Such authorization may be withdrawn by the Required Lenders by giving Agent written notice of such withdrawal signed by the Required Lenders; provided, however, that unless otherwise agreed by Agent such withdrawal of authorization shall not become effective until the thirtieth (30th) Business Day after receipt of such notice by Agent. Thereafter, the Required Lenders shall jointly instruct Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine.
Delegation of Authority to Agent. Without limiting the generality of Section 16.1, each Lender expressly authorizes Agent to determine on behalf of such Lender (i) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such advance rates do not at any time exceed the rates set forth in the Borrowing Base definition, (ii) the creation or elimination of any amount of the reserve (including the Reserve or the Environmental Compliance Reserve but excluding the Letter of Credit Reserve) against the Revolving Credit Facility and the Borrowing Base, (iii) whether or not Inventory or Receivables shall be deemed to constitute Eligible Inventory or Eligible Receivables and whether Equipment shall be deemed to constitute Eligible Equipment. Unless and until Agent shall have received written notice from the Required Lenders as to the existence of a Default, an Event of Default or some other circumstance which would relieve the Lenders of their
Delegation of Authority to Agent. 1) Without limiting the generality of Section 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (A) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such advance rates do not at any time exceed the rates set forth in the Borrowing Base definition, (B) the creation or elimination of any reserves (other than the Letter of Credit Reserve) against the Borrowing Base, and (C) whether or not Receivables shall be deemed to constitute or Eligible Receivables. Such authorization may be withdrawn by the Required Lenders by giving the Agent written notice of such withdrawal signed by the Required Lenders; provided, however, that unless otherwise agreed by the Agent such withdrawal of authorization shall not become effective until the thirtieth (30th) Business Day after receipt of such notice by the Agent. Thereafter, the Required Lenders shall jointly instruct the Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine. Notwithstanding anything to the contrary set forth in this Section, from and during the continuation of any Default or Event of Default, the Agent shall not make any Loan(s) which the Agent knows to be in an amount in excess of Borrowing Base Availability without the consent of all Lenders on behalf of whom such Loans are being made.
Delegation of Authority to Agent. Without limiting the generality of Section 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (i) the creation or elimination of any reserves (other than the Letter of Credit Reserve) against the Revolving Credit Facility and the Borrowing Base, (ii) whether or not Inventory or Receivables shall be deemed to constitute Eligible Domestic Receivables, Eligible Engine Inventory,
Delegation of Authority to Agent. Without limiting the generality of Section 14.1, each Lender expressly authorizes the Agent to determine on behalf of such Lender (i) any reduction or increase of advance rates applicable to the Borrowing Base, so long as such advance rates do not at any time exceed the rates set forth in the Borrowing Base definition, (ii) the creation or elimination of any reserves (other than the Letter of Credit Reserve) against the Revolving Loan Facility and the Borrowing Base, and (iii) whether or not Inventory or Receivables shall be deemed to constitute Eligible Inventory, Eligible In-Transit Inventory, or
