Redetermination of the Borrowing Base. The Administrative Agent shall redetermine the Borrowing Base in its sole discretion, and the Administrative Agent shall notify EPC and the Lenders of the Administrative Agent’s redetermination of the Borrowing Base (i) with respect to regularly scheduled Reserve Reports, (A) on or before April 30 (in the case of Reserve Reports due on March 31) and (B) on or before October 31 (in the case of Reserve Reports due on September 30), and (ii) with respect to a Lender Redetermination Notice or a Borrower Redetermination Notice as promptly as practicable following delivery to the Administrative Agent of all information (including Reserve Reports) requested from EPC, or if no such information is delivered by EPC following such request, then at such time as the Administrative Agent determines is practicable but, in any case, no later than 30 days after delivery of such information or, if such information is not timely delivered, 30 days after the date such information was required to be delivered. Within 15 days after receipt from the Administrative Agent of the amount of a redetermination of the Borrowing Base, each Lender shall notify the Administrative Agent in writing stating whether or not such Lender agrees with that redetermination. Failure of any Lender to give such notice within such period of time shall not be deemed to constitute an acceptance of such redetermination. The Borrowing Base may be decreased from the then effective Borrowing Base with the consent of Required Lenders but may only be increased from the then effective Borrowing Base with the consent of all of the Lenders. If Required Lenders or all of the Lenders, as the case may be, agree with that redetermination, then the Administrative Agent promptly shall notify EPC of the Borrowing Base as so redetermined. Redeterminations made in connection with regularly scheduled Reserve Reports shall become effective (and shall remain effective until the Borrowing Base is again redetermined as provided in this subsection (c)) on May 15 (in the case of Reserve Reports due on March 31) and November 15 (in the case of Reserve Reports due on September 30), and other redeterminations shall become effective upon written notice from the Administrative Agent to EPC and the Lenders of the redetermined Borrowing Base. If Required Lenders or all of the Lenders, as the case may be, have not approved in writing the Borrowing Base within the 15-day period following their receipt of the proposed amount from the Admi...
Redetermination of the Borrowing Base. Effective as of the Effective Date, until the next redetermination of the Borrowing Base in accordance with the provisions of Section 2.07 of the Credit Agreement on August 1, 2014 or such earlier date in accordance with the provisions of Section 2.07, which the Borrower has notified the Administrative Agent that it has elected such date to be the date of an Interim Redetermination in accordance with Section 2.07(b) of the Credit Agreement, the Conforming Borrowing Base shall remain at $40,000,000 and the Non-Conforming Borrowing Base shall be established at $4,500,000. Both the Borrower, on the one hand, and the Administrative Agent and the Lenders, on the other hand, agree that the redetermination of the Conforming Borrowing Base pursuant to this Section 3 shall constitute the March 1, 2014 Scheduled Redetermination of the Borrowing Base and not an Interim Redetermination of the Borrowing Base pursuant to Section 2.07(b) of the Credit Agreement.
Redetermination of the Borrowing Base. (a) Subject to the terms of this Agreement, as of the Agreement Effective Date, the Borrowing Base shall be $190,000,000, and such Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement.
(b) The parties hereto hereby acknowledge and agree that the Borrowing Base established pursuant to this Section 2 shall constitute the Scheduled Redetermination of the Borrowing Base effective as of May 24, 2018, under Section 2.07 of the Credit Agreement. The Administrative Agent, the Issuing Bank, the Lenders, and the Borrower hereby waive any required notices, notice periods, and timing requirements under the Credit Agreement (both before and after giving effect to this Agreement) in connection with the redetermination of the Borrowing Base under the Credit Agreement as set forth in this Agreement.
Redetermination of the Borrowing Base. Notwithstanding the requirements of Section 2.07 of the Credit Agreement, effective as of the Amendment Effective Date, the amount of the Borrowing Base shall be $450,000,000.00, subject to further adjustments from time to time pursuant to Section 2.07, Section 8.13(c) or Section 9.12(d) of the Credit Agreement. The redetermination of the Borrowing Base pursuant to this Section 3.01 of this Amendment shall constitute the Scheduled Redetermination for October 1, 2013.
Redetermination of the Borrowing Base. The Lenders hereby confirm and agree that as of the date hereof the Borrowing Base has been determined to be Cdn.$350,000,000, and that the foregoing shall constitute the November 30, 2022 Borrowing Base determination for the purposes of Section 2.23(2) of the Credit Agreement.
Redetermination of the Borrowing Base. Notwithstanding the requirements of Section 2.07 of the Credit Agreement, effective as of the Eighth Amendment Effective Date, the amount of the Borrowing Base shall be reduced to $350,000,000.00, subject to further adjustments from time to time pursuant to Section 2.07, Section 8.13(c) or Section 9.12(d) of the Credit Agreement. The redetermination of the Borrowing Base pursuant to this Section 3.01 of this Amendment shall constitute the Scheduled Redetermination for April 1, 2016.
Redetermination of the Borrowing Base. Subject to the conditions precedent set forth in Section 4 hereof, for the period from and including the Seventh Amendment Effective Date, but until the next Redetermination Date, the amount of the Borrowing Base shall be redetermined at $200,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 8.13(c), Section 8.16 and Section 9.12(d) of the Credit Agreement. The Lenders and the Borrower agree that the redetermination provided for in this Section 3 shall constitute the Scheduled Redetermination of the Borrowing Base scheduled for on or about March 31, 2014 for purposes of Section 2.07 of the Credit Agreement.
Redetermination of the Borrowing Base. (a) As of the Amendment Effective Date, and until further redetermined or adjusted, as applicable, pursuant to the next redetermination of the Borrowing Base in accordance with the provisions of Section 2.04 of the Credit Agreement or otherwise, the amount of the Borrowing Base under the Credit Agreement was increased to $425,000,000.
(b) Both the Borrower, on the one hand, and the Administrative Agent and the Lenders, on the other hand, agree that the redetermination of the Borrowing Base pursuant to the foregoing clause (a) of this Section 3 shall constitute the regularly scheduled redetermination of the Borrowing Base for fall 2013 (and does not constitute a discretionary redetermination of the Borrowing Base by either the Borrower, on the one hand, or the Administrative Agent or the Lenders, on the other hand, pursuant to Section 2.04(e) of the Credit Agreement).
Redetermination of the Borrowing Base. In accordance with the procedure set forth in Section 2.8 of the Credit Agreement, the Borrowing Base is increased from $200,000,000 to $225,000,000, such increase to be effective as of the Effective Date (as defined below) and to remain in effect until the Borrowing Base is otherwise redetermined in accordance with the Credit Agreement.
Redetermination of the Borrowing Base. Effective as of the Amendment Effective Date, until the next redetermination of the Borrowing Base in accordance with the provisions of Section 2.07 of the Credit Agreement, the Conforming Borrowing Base shall be $33,500,000 and the Non-Conforming Borrowing Base shall be $1,500,000. Both the Borrower, on the one hand, and the Administrative Agent and the Lenders, on the other hand, agree that the redetermination of the Borrowing Base pursuant to this Section 3 shall constitute the Spring 2015 Scheduled Redetermination contemplated under Section 4 of the Seventh Amendment.
