Common use of Scheduled and Interim Redeterminations Clause in Contracts

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each year, commencing October 1, 2007. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Lenders, by notifying the Borrower thereof, one time during each six month period, elect any of the foregoing amounts to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as reasonably practicable), commencing October April 1, 20072023. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Required Lenders, by notifying the Borrower thereof, one time during between Scheduled Redeterminations, each six month period, elect any of to cause the foregoing amounts Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “"Scheduled Redetermination”"), and, subject to Section 2.07(d), such redetermined amounts Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each year, commencing October on April 1, 20072021 (or, in each case, such date promptly thereafter as reasonably practicable). In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Required Lenders, by notifying the Borrower thereof, one time during between Scheduled Redeterminations, each six month period, elect any of to cause the foregoing amounts Borrowing Base to be redetermined between Scheduled Redeterminations (an “"Interim Redetermination”") in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as reasonably practicable), commencing October April 1, 20072012. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Required Lenders, by notifying the Borrower thereof, one time during between each six month periodScheduled Redetermination, each elect any of to cause the foregoing amounts Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 2.07(b) (a “Scheduled Redetermination”), and, subject . Subject to Section 2.07(d), such redetermined amounts Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April October 1, 2012, and thereafter on May 1st and October November 1st of each year, commencing October May 1, 20072013. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Super Majority Lenders, by notifying the Borrower thereof, one time during between any two consecutive Scheduled Redeterminations, each six month period, elect any of to cause the foregoing amounts Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.072.07(c).

Scheduled and Interim Redeterminations. The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a 2.07(a)a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each yearyear (or, in each case, such date promptly thereafter as reasonably practicable), commencing October 1, 20072013. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Lenders, by notifying the Borrower thereof, one time during each six any 12-month period, each elect any of to cause the foregoing amounts Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until the and/or Conforming Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts Borrowing Base and/or Conforming Borrowing Base shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each year, commencing October 1, 20072010. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Lenders, by notifying the Borrower thereof, one time during each six any 12-month period, each elect any of to cause the foregoing amounts Borrowing Base and Conforming Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.

Scheduled and Interim Redeterminations. The Borrowing Base and, until and each portion of the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts amount shall become effective and applicable to the Borrower, the Agents, the each Issuing Bank and the Lenders on April 1st and October 1st of each year, commencing October April 1, 20072019. In addition, the Borrower may, by notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Super-Majority Lenders, by notifying the Borrower thereof, one time during each six month period, elect any of the foregoing amounts to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07.