Reduction of Borrowing Base Related to Title. Pursuant to Section 8.12(c), if the Administrative Agent or Required Lenders have adjusted the Borrowing Base, so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Section 8.12(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice, the new Borrowing Base will simultaneously become effective.
Appears in 7 contracts
Samples: Revolving Credit Agreement (Diversified Energy Co PLC), Senior Secured Revolving Credit Agreement (Silverbow Resources, Inc.), Revolving Credit Agreement (Diversified Energy Co PLC)
Reduction of Borrowing Base Related to Title. Pursuant to Section 8.12(c), if If the Administrative Agent or Required Lenders have adjusted the Borrowing BaseBase in accordance with Section 8.13(c), so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Section 8.12(c8.13(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice, the new Borrowing Base will simultaneously become effective.
Appears in 6 contracts
Samples: Senior Secured Revolving Credit Agreement (Halcon Resources Corp), Senior Secured Revolving Credit Agreement (Goodrich Petroleum Corp), Senior Secured Revolving Credit Agreement (Halcon Resources Corp)
Reduction of Borrowing Base Related to Title. Pursuant to Section 8.12(c), if If the Administrative Agent or Required Lenders have adjusted the Borrowing BaseBase in accordance with Section 8.12(c), so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Section 8.12(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice8.12, the new Borrowing Base will simultaneously become effectiveeffective immediately after the receipt of the notice delivered by the Administrative Agent pursuant to Section 8.12(c).
Appears in 1 contract
Samples: Credit Agreement (Pressburg, LLC)
Reduction of Borrowing Base Related to Title. Pursuant to Section 8.12(c), if the Administrative Agent or Required Lenders have adjusted the Borrowing Base, so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Section 8.12(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice, the new Borrowing Base will simultaneously become effectiveeffective (it being understood that such reduction to the Borrowing Base shall apply to the Non-Conforming Borrowing Base first).
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Swift Energy Co)
Reduction of Borrowing Base Related to Title. Pursuant to Section 8.12(c), if If the Administrative Agent or Required Lenders have adjusted the Borrowing BaseBase in accordance with Section 8.13(c), so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Section 8.12(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice, the new Borrowing Base will simultaneously become effective.8.13
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Lilis Energy, Inc.)
Reduction of Borrowing Base Related to Title. Pursuant If the Administrative Agent has delivered a notice pursuant to Section 8.12(c), if ) indicating that there are Unresolved Title Deficiencies and the Administrative Agent or Required Lenders have adjusted agreed to adjust the Borrowing Base, so that, after giving effect to such reduction, the Borrower will satisfy the requirements of Base in accordance with Section 8.12(c), the Administrative Agent shall promptly notify the Borrower in writing and, upon receipt of such notice, the new Borrowing Base will simultaneously become effective.
Appears in 1 contract
Samples: Credit Agreement
