Common use of Effectiveness of a Redetermined Borrowing Base Clause in Contracts

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved by each Lender or the Required Lenders, as applicable, pursuant to Section 2.14(c), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) April 1 or October 1, as applicable, following such notice, or (B) if such notice is not delivered on or before April 1 or October 1, as applicable, then on the day of delivery of such New Borrowing Base Notice; and (ii) in the case of an Interim Redetermination, on the day of delivery of such New Borrowing Base Notice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until the New Borrowing Base Notice related thereto delivered to the Borrower in accordance with Section 13.2.

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by each Lender all of the Lenders or the Required Majority Lenders, as applicable, pursuant to Section 2.14(c2.07(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “"New Borrowing Base Notice”"), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the each Issuing Banks Bank and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) if the Administrative Agent shall have received the Engineering Reports required to be delivered by the Borrower pursuant to Section 8.12(a) and (c) in a timely and complete manner, then on the April 1 1st or October 11st, as applicable, following such noticedelivery of the New Borrowing Base Notice, or (B) if such notice is the Administrative Agent shall not have received the Engineering Reports required to be delivered on or before April 1 or October 1, as applicableby the Borrower pursuant to Section 8.12(a) and (c) in a timely and complete manner, then on the day of Business Day next succeeding delivery of such the New Borrowing Base Notice; and (ii) in the case of an Interim Redetermination, on the day of Business Day next succeeding delivery of such New Borrowing Base Noticenotice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until date or the New next adjustment to the Borrowing Base Notice related thereto delivered to the Borrower in accordance with under Section 13.28.13(c) or Section 9.12(d), whichever occurs first.

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by each Lender all of the Lenders or the Required Majority Lenders, as applicable, pursuant to Section 2.14(c2.7(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks Agent and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) if the Administrative Agent shall have received the Engineering Data required to be delivered by the Borrower pursuant to Section 8.2(e) or Section 8.2(f), as applicable, and in a timely and complete manner, then on the April 1 1st or October 11st, as applicable, following such notice, or (B) if such notice is the Administrative Agent shall not have received the Engineering Data required to be delivered on by the Borrower pursuant to Section 8.2(e) or before April 1 or October 1Section 8.2(f), as applicable, and in a timely and complete manner, then on the day of Business Day next succeeding delivery of such New Borrowing Base Noticenotice; and (ii) in the case of an Interim Redetermination, on the day of Business Day next succeeding delivery of such New Borrowing Base Noticenotice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until Date or the New next adjustment to the Borrowing Base Notice related thereto delivered to the Borrower in accordance with Section 13.2.under

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by each Lender all of the Lenders or the Required Majority Lenders, as applicable, pursuant to Section 2.14(c2.07(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “"New Borrowing Base Notice”"), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks Bank and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) April 1 if the Administrative Agent shall have received the Engineering Reports required to be delivered by the Borrower pursuant to Section 8.12(a) and (c) in a timely and complete manner, then on the March 1st or October 1September 1st, as applicable, following such notice, or (B) if such notice is the Administrative Agent shall not have received the Engineering Reports required to be delivered on or before April 1 or October 1, as applicableby the Borrower pursuant to Section 8.12(a) and (c) in a timely and complete manner, then on the day of Business Day next succeeding delivery of such New Borrowing Base Noticenotice; and (ii) in the case of an Interim Redetermination, on the day of Business Day next following delivery of such New Borrowing Base Noticenotice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until Date or the New next adjustment to the Borrowing Base Notice related thereto delivered to the Borrower in accordance with under Section 13.28.13(c) or Section 9.12, whichever occurs first.

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after After a redetermined Borrowing Base is approved or is deemed to have been approved by each Lender all of the Lenders or the Required Lenders, as applicable, pursuant to Section 2.14(c2.14(c)(iii), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks Letter of Credit Issuer and the Lenders: , (i) if the Administrative Agent shall have received the Engineering Reports required to be delivered by the Borrower pursuant to Section 9.12(a) in the case of a Scheduled Redeterminationtimely and complete manner, on the earlier to occur of (A) April 1 or October January 1, 2021 or July 1, 2021, as applicableapplicable (or, in each case, such date promptly thereafter as reasonably practicable), following such notice, or (Bii) if such notice is the Administrative Agent shall not have received the Engineering Reports required to be delivered on or before April 1 or October 1, as applicableby the Borrower pursuant to Section 9.12(a) in a timely and complete manner, then on the day of delivery of such New Borrowing Base Notice; and (ii) in the case of an Interim Redetermination, on the day of Business Day next succeeding delivery of such New Borrowing Base Notice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until the New Borrowing Base Notice related thereto delivered to is received by the Borrower in accordance with Section 13.2Borrower.

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved by each Lender or the Required Lenders, as applicable, pursuant to Section 2.14(c), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) April February 1, 2025, May 1, 2025, March 1 or October September 1, as applicable, following such notice, or (B) if such notice is not delivered on or before April February 1, 2025, May 1, 2025, March 1 or October September 1, as applicable, then on the day of delivery of such New Borrowing Base Notice; and (ii) in the case of an Interim Redetermination, on the day of delivery of such New Borrowing Base Notice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until the New Borrowing Base Notice related thereto delivered to the Borrower in accordance with Section 13.2.

Effectiveness of a Redetermined Borrowing Base. Subject to Section 2.14(h), after a redetermined Borrowing Base is approved by each Lender (other than any Term Lender to the extent of its Excluded Term Loan Exposure, if any) or the Required Lenders, as applicable, pursuant to Section 2.14(c), the Administrative Agent shall promptly thereafter notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks and the Lenders: (i) in the case of a Scheduled Redetermination, on the earlier to occur of (A) April 1 or October 1, as applicable, following such notice, or (B) if such notice is not delivered on or before April 1 or October 1, as applicable, then on the day of delivery of such New Borrowing Base Notice; and (ii) in the case of an Interim Redetermination, on the day of delivery of such New Borrowing Base Notice. Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next redetermination or modification thereof hereunder. Notwithstanding the foregoing, no Scheduled Redetermination or Interim Redetermination shall become effective until the New Borrowing Base Notice related thereto delivered to the Borrower in accordance with Section 13.2.