Common use of Initial Unencumbered Borrowing Base Properties Clause in Contracts

Initial Unencumbered Borrowing Base Properties. On the Effective Date the Properties identified on Schedule 4.1. shall be Unencumbered Borrowing Base Properties.

Initial Unencumbered Borrowing Base Properties. On As of the Effective Date date hereof, the parties agree that the Properties identified on Schedule 4.1. shall be Unencumbered Borrowing Base Properties, and accordingly, shall be included in calculations of the Unencumbered Borrowing Base Value initially having the respective Unencumbered Borrowing Base Values set forth on such Schedule.