Common use of Reduction of Borrowing Base Upon Issuance of Senior Notes Clause in Contracts

Reduction of Borrowing Base Upon Issuance of Senior Notes. Notwithstanding anything to the contrary contained herein, if Oasis Petroleum Inc. issues any Senior Notes during the period between Scheduled Redetermination dates or not in conjunction with an Interim Redetermination, then on the date on which such Senior Notes are issued, the Borrowing Base then in effect shall be reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Senior Notes. The Borrowing Base as so reduced shall become the new Borrowing Base immediately upon the date of such issuance, effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on such date until the next redetermination or modification thereof hereunder. For purposes of this Section 2.07(e), if any such Debt is issued at a discount or otherwise sold for less than “par”, the reduction shall be calculated based upon the stated principal amount without reference to such discount.

Reduction of Borrowing Base Upon Issuance of Senior Notes. Notwithstanding anything to the contrary contained herein, if Oasis Petroleum Inc. the Parent issues any Senior Notes during the period between Scheduled Redetermination dates or not in conjunction with an Interim Redetermination, then on the date on which such Senior Notes are issued, the Borrowing Base then in effect shall be reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Senior Notes. The Borrowing Base as so reduced shall become the new Borrowing Base immediately upon the date of such issuance, effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on such date until the next redetermination or modification thereof hereunder. For purposes of this Section 2.07(e), if any such Debt is issued at a discount or otherwise sold for less than “par”, the reduction shall be calculated based upon the stated principal amount without reference to such discount.

Reduction of Borrowing Base Upon Issuance of Senior Notes. Notwithstanding In addition to the other redeterminations of the Borrowing Base provided for herein, and notwithstanding anything to the contrary contained herein, if Oasis Petroleum Inc. issues upon the issuance of any Senior Notes during the period between Scheduled Redetermination dates or not in conjunction with an Interim Redetermination, then on the date on which such Senior Notes are issuedpermitted by Section 9.02(i), the Borrowing Base then in effect shall be automatically reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Senior Notes. The Notes (without regard to any initial issue discount) and the Borrowing Base as so reduced shall become the new Borrowing Base immediately upon the date of such issuance, effective and applicable to the Borrower, the AgentsAdministrative Agent, the Issuing Bank Banks, and the Lenders on such date until the next redetermination or modification thereof hereunder. For purposes of the Borrowing Base pursuant to this Section 2.07(eAgreement (it being understood that such reduction to the Borrowing Base shall apply to the Non-Conforming Borrowing Base first); provided, if however, that any such Debt is issued at a discount or otherwise sold for less than “par”, the reduction pursuant to this clause (i) shall be calculated based upon the stated principal amount without reference to such discountnot exceed $75,000,000.

Reduction of Borrowing Base Upon Issuance of Senior Notes. Notwithstanding anything to If the contrary contained herein, if Oasis Petroleum Inc. Borrower issues any Senior Notes during the period between Scheduled Redetermination dates or not in conjunction with an Interim Redetermination(other than Permitted Refinancing Debt issued pursuant to Section 9.02(g)), then on the date on which such Senior Notes are issued, the Borrowing Base then in effect shall be reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Senior Notes. The Borrowing Base as so reduced shall become the new Borrowing Base immediately upon the date of such issuance, effective and applicable to the Borrower, the Agents, the each Issuing Bank and the Lenders on such date until the next redetermination or modification thereof hereunder. For purposes of this Section 2.07(e), if any such Debt is issued at a discount or otherwise sold for less than “par”, the reduction shall be calculated based upon the stated principal amount without reference to such discount.