Common use of Reserve Report; Proposed Borrowing Base Clause in Contracts

Reserve Report; Proposed Borrowing Base. As soon as available and in any event by February 28 and August 31 of each year, commencing August 31, 2007, the Borrower shall deliver to the Administrative Agent and each Lender a Reserve Report prepared as of the immediately preceding December 31 and June 30, respectively. Simultaneously with the delivery to the Administrative Agent and each Lender of each Reserve Report, the Borrower shall notify the Administrative Agent and each Lender of the amount of the Borrowing Base which the Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as the Required Lenders shall elect).

Reserve Report; Proposed Borrowing Base. As soon as available and in any event by On or before February 28 and August 31 of each year, commencing August 31February 28, 20072015, the Borrower shall deliver to the Administrative Agent and for distribution to each Lender a Reserve Report prepared as of the immediately preceding December 31 and June 30, respectively. Simultaneously with the delivery to the Administrative Agent and each Lender of each Reserve Report, the Borrower shall notify the Administrative Agent and each Lender of the amount of the Borrowing Base which the Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as the Required Lenders shall elect).

Reserve Report; Proposed Borrowing Base. As soon as available and in any event by February 28 March 31 and August 31 September 30 of each yearyear commencing September 30, commencing August 31, 20072004, the Borrower shall deliver to the Administrative Agent and each Lender a Reserve Report prepared as of the immediately preceding December 31 and June 30, respectively. Simultaneously with the delivery to the Administrative Agent and each Lender of each Reserve Report, the Borrower shall notify the Administrative Agent and each Lender of the amount of the Borrowing Base which the Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as the Required Lenders shall elect).

Reserve Report; Proposed Borrowing Base. As soon as --------------------------------------- available and in any event by February 28 March 31 and August 31 September 30 of each year, commencing August 31September 30, 20072002, the Borrower shall deliver to the Administrative Agent and each Lender Bank a Reserve Report prepared as of the immediately preceding December 31 and June 30, 30 respectively. Simultaneously with the delivery to the Administrative Agent and each Lender Bank of each Reserve Report, the Borrower shall notify the Administrative Agent and each Lender Bank of the amount of the Borrowing Base which the Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as the Required Lenders Banks shall elect).

Reserve Report; Proposed Borrowing Base. As soon as available and in any event by February 28 and August 31 of each yearyear commencing February 28, commencing August 31, 20072006, the Borrower shall deliver to the Administrative Agent and each Lender a Reserve Report prepared as of the immediately preceding December 31 and June 30, respectively. Simultaneously with the delivery to the Administrative Agent and each Lender of each Reserve Report, the Borrower shall notify the Administrative Agent and each Lender of the amount of the Borrowing Base which the Borrower requests become effective on the next Redetermination Date (or such date promptly following such Redetermination Date as the Required Lenders shall elect).”