Common use of Redetermined Borrowing Base and Conforming Borrowing Base Clause in Contracts

Redetermined Borrowing Base and Conforming Borrowing Base. This Amendment shall constitute notice of a redetermination of the Borrowing Base and the Conforming Borrowing Base pursuant to Section 4.2 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that effective as of the date hereof, the Borrowing Base shall be $280,000,000 and the Conforming Borrowing Base shall be $245,000,000 and such redetermined Borrowing Base and Conforming Borrowing Base shall remain in effect until the date the Borrowing Base and the Conforming Borrowing Base are otherwise adjusted pursuant to the terms of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Matador Resources Co)

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Redetermined Borrowing Base and Conforming Borrowing Base. This Amendment shall constitute notice of a redetermination of the Borrowing Base and the Conforming Borrowing Base pursuant to Section 4.2 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that effective as of the date hereof, the Borrowing Base shall be $280,000,000 350,000,000 and the Conforming Borrowing Base shall be $245,000,000 275,000,000 and such redetermined Borrowing Base and Conforming Borrowing Base shall remain in effect until the date the Borrowing Base and the Conforming Borrowing Base are otherwise adjusted pursuant to the terms of the Credit Agreement. The redetermination of the Borrowing Base and the Conforming Borrowing Base contained herein shall constitute the Determination Date to occur on or about November 1, 2013.

Appears in 1 contract

Samples: Credit Agreement (Matador Resources Co)

Redetermined Borrowing Base and Conforming Borrowing Base. This Amendment shall constitute notice of a redetermination of the Borrowing Base and the Conforming Borrowing Base pursuant to Section 4.2 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that effective as of the date hereof, hereof (a) the Borrowing Base shall be $280,000,000 450,000,000 and (b) the Conforming Borrowing Base shall be $245,000,000 375,000,000 and such redetermined Borrowing Base and Conforming Borrowing Base shall remain in effect until the date the Borrowing Base and the Conforming Borrowing Base are otherwise adjusted pursuant to the terms of the Credit Agreement. The redetermination of the Borrowing Base and the Conforming Borrowing Base contained in this Section 2 shall constitute the Determination Date to occur on or about November 1, 2014.

Appears in 1 contract

Samples: Credit Agreement (Matador Resources Co)

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Redetermined Borrowing Base and Conforming Borrowing Base. This Amendment shall constitute notice of a redetermination of the Borrowing Base and the Conforming Borrowing Base pursuant to Section 4.2 of the Credit Agreement, and the Administrative Agent, the Lenders and the Borrower hereby acknowledge that effective as of the date hereof, the Borrowing Base shall be $280,000,000 385,000,000 and the Conforming Borrowing Base shall be $245,000,000 310,000,000 and such redetermined Borrowing Base and Conforming Borrowing Base shall remain in effect until the date the Borrowing Base and the Conforming Borrowing Base are otherwise adjusted pursuant to the terms of the Credit Agreement. The redetermination of the Borrowing Base and the Conforming Borrowing Base contained herein shall constitute the Determination Date to occur on or about May 1, 2014.

Appears in 1 contract

Samples: Credit Agreement (Matador Resources Co)

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