Initial Borrowing Base Certificate; etc Clause Samples

Initial Borrowing Base Certificate; etc. (a) On the Effective Date, the Administrative Agent shall have received the initial Borrowing Base Certificates meeting the requirements of Section 9.02(c)(i). (b) On the Effective Date, after giving effect to the Transaction (and the Credit Events hereunder), the Excess Availability shall equal or exceed $90,000,000 (after giving effect to all Credit Events to occur on such date (as the amount of any such Credit Event will be deemed increased by the amount of any previously unpaid portion of the customary monthly payables disbursement scheduled to be made on or about August 6, 2009 and, if the Effective date has not occurred prior to August 20, 2009, on or about September 6, 2009)) and the Company shall have delivered an officer’s certificate from its chief financial officer demonstrating in reasonable detail such Excess Availability.

Initial Borrowing Base Certificate; etc. (a) On the Initial Borrowing Date, the Administrative Agent shall have received the initial Borrowing Base Certificate meeting the requirements of Section 9.01(j). (b) On the Initial Borrowing Date, after giving effect to the Transaction (and the Credit Events hereunder), the Excess Availability shall equal or exceed $40,000,000 and the Company shall have delivered an officer’s certificate from a Financial Officer demonstrating in reasonable detail such Excess Availability.