Common use of Other Redeterminations Clause in Contracts

Other Redeterminations. In addition to the Borrowing Base redeterminations provided for otherwise in this Section 2.4 or any other provision of this Agreement, effective immediately upon each occurrence of a Triggering Event, the Required Lenders may make an additional redetermination of the Borrowing Base based on such information relating to the Triggering Event as Administrative Agent and such Lenders deem relevant. In connection with any redetermination of the Borrowing Base under this Section 2.4(e), the Borrower shall provide Administrative Agent and the Lenders with such information regarding the Borrower’s and its Subsidiaries’ proved Oil and Gas Properties and production relating thereto as Administrative Agent or any Lender may reasonably request, including an updated Reserve Report prepared by the chief engineer of the Borrower or, if such position is vacant or does not exist, an Approved Petroleum Engineer. Administrative Agent shall promptly notify the Borrower in writing of each redetermination of the Borrowing Base pursuant to this Section 2.4(e) and the amount of the Borrowing Base as so redetermined.