Reduction of Borrowing Base. The Borrowing Base shall be reduced by an amount equal to (A) the Net Invoice Value of any (i) Receivable which is outstanding for ninety (90) days, (ii) Receivable for which there is a Dispute with the Account Debtor, regardless of validity, or (iii) Receivable which AEG charges back to Seller for any other reason under this Agreement, and (B) any other amount which AEG may charge back to Seller to reduce the Purchase Price due with respect to any Receivable Pool.
Reduction of Borrowing Base. For the period from and including the Fourth Amendment Effective Date (as defined below) to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be $700,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f), Section 8.13(c), Section 9.12(d) or Section 9.12(e). For the avoidance of doubt, this Borrowing Base reduction (a) shall not constitute an Interim Redetermination elected by the Borrower or by the Administrative Agent at the direction of the Required Lenders and (b) shall be in addition to the April 1, 2015 Scheduled Redetermination.
Reduction of Borrowing Base. Pursuant to Section 2.07, the Administrative Agent and the Lenders constituting the Decrease and Maintenance Lenders hereby agree that, for the period from and including the Fifth Amendment Effective Date (as defined below) until the next Redetermination Date, the Borrowing Base shall be, and hereby is, reduced to $1,175,000,000. The parties hereto agree that this reduction of the Borrowing Base constitutes the Scheduled Redetermination for October 1, 2019 and such redetermination shall be deemed to have taken place in accordance with the procedures set forth in the Credit Agreement. This Amendment (a) does not limit redeterminations or further adjustments to the Borrowing Base pursuant to the Credit Agreement and (b) shall constitute the New Borrowing Base Notice in respect of such Scheduled Redetermination in accordance with Section 2.07(d). As of the Fifth Amendment Effective Date, the Total Commitment under the Credit Agreement is $200,000,000.
Reduction of Borrowing Base. By execution of this Fourth Amendment, each of the Borrower, the Administrative Agent and the Required Lenders agree that, as of the Fourth Amendment Effective Date, the Borrowing Base is $240,000,000 until it may be redetermined in accordance with Credit Agreement.
Reduction of Borrowing Base. Pursuant to Section 2.06 of the Credit Agreement, the Administrative Agent and the Lenders constituting the Required Lenders hereby agree that, for the period from and including the Second Amendment Effective Date (as defined below) until the next Redetermination Date or other adjustment of the Borrowing Base in accordance with the Credit Agreement, the Borrowing Base shall be, and hereby is, reduced to $1,700,000,000.00. The parties hereto agree that this reduction of the Borrowing Base constitutes the Scheduled Redetermination for May 1, 2020 and such redetermination shall be deemed to have taken place in accordance with the procedures set forth in the Credit Agreement. This Amendment (a) does not limit redeterminations or further adjustments to the Borrowing Base pursuant to the Credit Agreement and (b) shall constitute the New Borrowing Base Notice in respect of such Scheduled Redetermination in accordance with Section 2.06(d) of the Credit Agreement.
Reduction of Borrowing Base. In the event of any casualty or Taking with respect to a Mortgaged Property, which will cost (or may reasonably be expected to cost) more than $300,000 to Restore, as determined by the Company and so certified in an Officer's Certificate delivered to the Agent, the Company shall elect by written notice delivered to the Agent as soon as practicable thereafter, but in any event before the earlier of (i) twenty-one (21) days after the occurrence of such casualty or Taking and (ii) the commencement of the Restoration of such Mortgaged Property, either:
Reduction of Borrowing Base. Lender may, in its discretion, from time to time, upon not less than five (5) days prior notice to Borrower, reduce the A/R Borrowing Base to the extent that Lender determines in good faith that: (a) the dilution with respect to the Accounts for any period (based on the ratio of (i) the aggregate amount of reductions in Accounts other than as a result of payments in cash to (ii) the aggregate amount of total sales) has increased in any material respect or may be reasonably anticipated to increase in any material respect above historical levels, or (b) the general creditworthiness of Account Debtors has declined. In determining whether to reduce the A/R Borrowing Base, Lender may consider events, conditions, contingencies or risks which are also considered in determining Eligible Accounts or in establishing Availability Reserves.
Reduction of Borrowing Base. Promptly and in any event within five Business Days after the President, the Chief Executive Officer, any Vice President or any Authorized Financial Officer of Holdings or any of its Subsidiaries obtains knowledge thereof, notice of the occurrence or effectiveness of any event or condition that has caused, or could reasonably be expected to cause, the Borrowing Base Property Amount of any Borrowing Base Property to be reduced by more than the lesser of (x) $1,000,000 and (y) 10% of such Borrowing Base Property Amount, in each case together with a certificate of an Authorized Financial Officer of the Borrower setting forth (in reasonable detail) the nature of the respective event and/or condition.
Reduction of Borrowing Base. (a) Petroleum may elect at any time to reduce the amount the Borrowers may borrow under this Agreement to an amount less than the Borrowing Base. If Petroleum so elects, Petroleum must give notice to Agent three Business Days prior to the effective date of any such reduction. Petroleum's reduction of the Borrowing Base may be in amounts of at least $1,000,000 in any integral multiple of $100,000. Any such reduction shall be accompanied by payment in full of any commitment fee then accrued on the amount of such reduction. The Borrowers may not reduce the Borrowing Base to an amount less than the Letter of Credit Exposure. On the effective date of any such reduction, the Borrowers shall, to the extent required as a result of such reduction, make a principal payment on the Loans in an amount sufficient to cause the outstanding principal balance of the Loans to be equal to or lesser than the Borrowing Base as thereby reduced.
Reduction of Borrowing Base. Borrower, Lenders and Administrative Agent agree that effective on the date of this Amendment, as first set forth above, the Borrowing Base available under the Revolving Loan is $18,000,000.
