Common use of Increase of Borrowing Base Clause in Contracts

Increase of Borrowing Base. As of the Effective Date, the Borrowing Base is hereby increased from $90,000,000 to $100,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the December 1, 2018 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement. The Borrowing Base, as increased hereby, shall remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Primeenergy Resources Corp), Credit Agreement

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Increase of Borrowing Base. As Notwithstanding anything to the contrary in the Credit Agreement, upon the effectiveness of the Effective Datethis Amendment in accordance with Section 3 below, effective as of July 1, 2006, (a) the Borrowing Base is shall be, and hereby is, increased from $90,000,000 to $100,000,000. The parties hereto agree that the foregoing redetermination of the 260,000,000, which Borrowing Base constitutes the December 1, 2018 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement. The Borrowing Base, as increased hereby, shall remain in effect until next the Borrowing Base shall be otherwise adjusted or redetermined in accordance with the provisions of Section 2.07 of Credit Agreement and (b) the Credit AgreementProjected Borrowing Base for the Projected Borrowing Base Specified Date occurring on January 1, 2007, shall be $215,000,000.

Appears in 1 contract

Samples: First Lien Credit Agreement (Energy Xxi (Bermuda) LTD)

Increase of Borrowing Base. As of the Effective Date, the The Borrowing Base is hereby increased from $90,000,000 700,000,000 to $100,000,0001,000,000,000. The parties hereto agree that the foregoing This redetermination of the Borrowing Base constitutes the December 1, 2018 Scheduled Redetermination scheduled periodic redetermination of the Borrowing Base based on the April 2017 Reserve Report pursuant to Section 2.07 4.02(a) of the Credit Agreement, and is not a special redetermination pursuant to Section 4.03 of the Credit Agreement. The Borrowing Base, as increased hereby, Base shall remain in effect at this amount until next redetermined in accordance with the provisions of Section 2.07 Article IV of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gulfport Energy Corp)

Increase of Borrowing Base. As of the Effective Date, the The Borrowing Base is hereby increased from $90,000,000 275,000,000 to $100,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the December 1, 2018 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement450,000,000. The Borrowing Base, as increased hereby, Base shall remain in effect at this amount until next redetermined in accordance with the provisions of Section 2.07 Article IV of the Original Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gulfport Energy Corp)

Increase of Borrowing Base. As of the Effective Date, the The Borrowing Base is hereby increased from $90,000,000 122,500,000 to $100,000,000170,000,000. The parties hereto agree that the foregoing redetermination This increase of the Borrowing Base constitutes the December May 1, 2018 2019 Scheduled Redetermination of the Borrowing Base pursuant to under Section 2.07 of the Credit Agreement. The , and this Section 3 shall be deemed to be the New Borrowing Base Notice for such increased Borrowing Base, as increased hereby, shall . Such redetermined Borrowing Base will remain in effect until the next redetermined Redetermination Date or otherwise adjusted in accordance with the provisions of Section 2.07 of the Credit Agreement, as amended hereby.

Appears in 1 contract

Samples: Credit Agreement (Sundance Energy Australia LTD)

Increase of Borrowing Base. As of the Effective Date, the The Borrowing Base is hereby increased from $90,000,000 450,000,000 to $100,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the December 1, 2018 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement575,000,000. The Borrowing Base, as increased hereby, Base shall remain in effect at this amount until next redetermined in accordance with the provisions of Section 2.07 Article IV of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Gulfport Energy Corp)

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Increase of Borrowing Base. As Effective as of the Amendment Effective Date, the Borrowing Base is hereby increased from $90,000,000 415,000,000 to $100,000,000600,000,000. The parties hereto agree Once effective, the new Borrowing Base amount shall remain in effect at that the foregoing redetermination of level until the Borrowing Base constitutes is redetermined or reduced in accordance with the December 1Credit Agreement. For the avoidance of #4735663.5 doubt, 2018 Scheduled Redetermination of the increase in the Borrowing Base pursuant to this Section 2.07 of 3 is the Credit Agreement. The Borrowing BaseScheduled Redetermination scheduled to be made on or about November 1, as increased hereby, shall remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement2014.

Appears in 1 contract

Samples: Credit Agreement (Clayton Williams Energy Inc /De)

Increase of Borrowing Base. As of the Effective Date, the Borrowing Base is hereby increased from $90,000,000 67,000,000 to $100,000,00085,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the December 1, 2018 2017 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement. The Borrowing Base, as increased hereby, shall remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Primeenergy Corp)

Increase of Borrowing Base. As of the Effective Date, the Borrowing Base is hereby increased from $90,000,000 85,000,000 to $100,000,00090,000,000. The parties hereto agree that the foregoing redetermination of the Borrowing Base constitutes the December June 1, 2018 Scheduled Redetermination of the Borrowing Base pursuant to Section 2.07 of the Credit Agreement. The Borrowing Base, as increased hereby, shall remain in effect until next redetermined in accordance with the provisions of Section 2.07 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Primeenergy Corp)

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