Special Determinations of Borrowing Base. (a) Special determinations of the Borrowing Base may be requested by Agent or Borrower not more than one time per calendar year each. If any special determination is requested by Borrower, it shall be accompanied by internally-prepared engineering data for the oil and gas reserves included in the Mortgaged Properties, and such additional properties as Borrower may select, brought forward from the most recent Reserve Report furnished by Borrower to Agent. If any special determination is requested by Agent, Borrower will provide Agent with internally prepared engineering data for the oil and gas reserves included in the Mortgaged Properties, and such additional properties as Borrower may select, updated from the most recent Reserve Report furnished to Agent, as soon as is reasonably practicable following the request. The determination whether to increase or decrease the Borrowing Base and the Monthly Reduction Amount shall then be made in accordance with the standards set forth in Section 4.01 hereof and the procedures set forth in Section 4.04 hereof. In the event of any special determination of the Borrowing Base pursuant to this Section, Agent in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. (i) Special determinations of the Borrowing Base may be requested (A) by Borrower not more than two times per calendar year, or (B) by Administrative Agent at any time during the term hereof. If any special determination is requested by Borrower, Borrower shall provide, if requested by Administrative Agent, an updated Reserve Report brought forward from the most recent Reserve Report furnished by Borrower to Administrative Agent. If any special determination is requested by Administrative Agent, Borrower will provide Administrative Agent with engineering data for the oil and gas reserves updated from the most recent Reserve Report furnished to Administrative Agent, as soon as is reasonably possible following the request. The determination whether to increase or decrease the Borrowing Base shall be made in accordance with the standards set forth in Section 2.9(a) and the procedures set forth in Section 2.9(d). In the event of any special determination of the Borrowing Base pursuant to this Section 2.9(c), Administrative Agent in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. In addition to the determinations of the Borrowing Base pursuant to Sections 2.16 (b), Borrower and Administrative Agent (or Administrative Agent at the request of Required Lenders) may each request additional determinations (“Special Determination”) of the Borrowing Base from time to time; provided, that Borrower may request no more than one (1) Special Determination between each scheduled Borrowing Base determination and Administrative Agent (or Administrative Agent at the request of Required Lenders) may request no more than one (1) Special Determination between each scheduled Borrowing Base determination. In the event Administrative Agent (or Administrative Agent at the request of Required Lenders) requests a Special Determination, Administrative Agent shall promptly deliver notice of such request to Borrower and Borrower shall, within twenty (20) calendar days following the date of such request, deliver to Lenders a Reserve Report prepared by petroleum engineers who are employees of Borrower as of the last day of the calendar month preceding the date of such request and such other information which Administrative Agent shall have reasonably requested. In the event Borrower requests a Special Determination, Borrower shall deliver written notice of such request to Administrative Agent which shall include (i) a Reserve Report prepared as of a date not more than thirty (30) days prior to the date of such request (or, in the case of a request made on the 31st day of any calendar month, thirty-one (31) days), (ii) the amount of the Borrowing Base requested by Borrower and to become effective on the Determination Date applicable to such Special Determination and (iii) such other information which Administrative Agent shall have reasonably requested. Upon receipt of such Reserve Report and other information, Administrative Agent and Required Lenders shall determine the Borrowing Base in accordance with the procedure set forth in Section 2.16(b), which Borrowing Base shall become effective on the Determination Date.
Special Determinations of Borrowing Base. Special determinations of the Borrowing Base after the Effective Date, may be requested by the Administrative Agent once and by Xxxxxxxx once, in each case, between scheduled Determination Dates. If any special determination is requested by Administrative Agent or Xxxxxxxx, Borrower will provide Administrative Agent with engineering data for the oil and gas reserves included in the most recent Reserve Report furnished Administrative Agent and the other data specified in Section 7.15 and within the time period specified therein. The determination whether to increase or decrease the Borrowing Base shall then be made by Lenders in their sole discretion in accordance with the standards set forth in Section 4.1 and the procedures set forth in Section 4.5.
Special Determinations of Borrowing Base. Special determinations of the Borrowing Base may be requested by the Borrower not more than one (1) time per calendar year or by the Lenders at any time during the term hereof. If any special determination is requested by the Borrower, it shall be accompanied by engineering data described in Section 2.21.3(b) and a deposit in the amount of $5,000 for each Lender for the administrative fees of each Lender. If any special determination is requested by the Lenders, the Borrower will provide the Agent with the information specified in Section 2.21.3(b) hereof as soon as is reasonably possible following the request. The determination whether to increase or decrease the Borrowing Base shall then be made by the Lenders in their sole discretion in accordance with the standards set forth in Section 2.21.1 hereof. In the event of any special determination of the Borrowing Base pursuant to this Section, the Lenders in the exercise of their discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. Special determinations of the Borrowing Base may be requested by Borrower not more than one (1) time between Determination Dates or by Lender at any time during the term hereof. If any special determination is requested by Borrower, it shall be accompanied by engineering data described in Section 3.3(b). If any special determination is requested by Lender, Borrower will provide Lender with the information specified in Section 3.3(b) hereof, updated from the most recent Reserve Report furnished Lender, within thirty (30) days following the request. The determination whether to increase or decrease the Borrowing Base shall then be made by Lender in its sole discretion in accordance with the standards set forth in Section 3.1 hereof. In the event of any special determination of the Borrowing Base pursuant to this Section, Lender in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. (i) Special determinations of the Borrowing Base may be requested by Borrower not more than two times per calendar year or by Lender two time per calendar year during the term hereof. If any special determination is requested by Borrower, Borrower shall provide, if requested by Lender, an updated Reserve Report brought forward from the most recent Reserve Report furnished by Borrower to Lender and a $5,000 fee deposit for Lender’s engineering fees, which fee is in addition to the fee payable under Section 2.9(b)(iii) (except to the extent such updated Reserve Report was prepared by an Independent Engineer). If any special determination is requested by Lender, Borrower will provide Lender with engineering data for the oil and gas reserves updated from the most recent Reserve Report furnished to Lender, as soon as is reasonably possible following the request. The determination whether to increase or decrease the Borrowing Base and the Monthly Reduction Amount shall be made in accordance with the standards set forth in Section 2.9(a) and the procedures set forth in Section 2.9(d). In the event of any special determination of the Borrowing Base pursuant to this Section, Lender in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. Special determinations of the Borrowing Base may be requested by Borrower not more than one time between determination dates. Lender may redetermine the Borrowing Base at any time. If any special determination is requested by Borrower, it shall be at Borrower's cost and accompanied by engineering data for the oil and gas reserves in all of their oil and gas properties, including the Mortgaged Properties brought forward from the most recent Reserve Report furnished by Borrower to Lender. If any special determination is requested by Lender, Lender will notify Borrower thereof and Borrower will provide Lender with engineering data for the oil and gas reserves included in the Mortgaged Properties updated from the most recent Reserve Report furnished to Lender, as soon as is reasonably possible following the request. The determination whether to increase or decrease the Borrowing Base shall be made in accordance with the standards set forth in Section 4.01 hereof and the procedures set forth in Section 4.04 hereof. In the event of any special determination of the Borrowing Base pursuant to this Section, Lender shall notify Borrower within a reasonable time after receipt of all requested information of the new Borrowing Base, and such new Borrowing Base shall continue until the next Redetermination Date. Lender in the exercise of its discretion may suspend the next regularly scheduled determination of the Borrowing Base.
Special Determinations of Borrowing Base. Special determinations of the Conforming Borrowing Base prior to the Borrowing Base Equalization Date, and the Borrowing Base on and after the Borrowing Base Equalization Date, may be requested by the Administrative Agent or Borrower (a) twice at any time during the first year after the Effective Date and (b) once between scheduled determination dates thereafter. If any special determination is requested by Administrative Agent or Borrower, Borrower will provide Administrative Agent with engineering data for the oil and gas reserves included in the most recent Reserve Report furnished Administrative Agent and the other data specified in Section 7.15 and within the time period specified therein. The determination whether to increase or decrease the Conforming Borrowing Base or the Borrowing Base, as applicable, shall then be made by Lenders in their sole discretion in accordance with the standards set forth in Section 4.1 and the procedures set forth in Section 4.5. Second Amended and Restated Credit Agreement
Special Determinations of Borrowing Base. (a) In addition to the redetermination of the Borrowing Base pursuant to Section 3.2, the Borrower may request one (1) redetermination of the Borrowing Base during any twelve month period commencing on November 1 of each year. In the event the Borrower requests a special determination of the Borrowing Base pursuant to this Subsection 3.3(a), the Borrower shall deliver written notice of such request to the Agent which shall include (i) Engineering Report(s) and Related Asset Report(s) prepared as of a date not more than sixty (60) calendar days prior to the date of such request, (ii) such other information as the Agent shall request prepared as of a date not more than thirty (30) calendar days prior to the date of such request, and (iii) the amount of the Borrowing Base requested by the Borrower to become effective on the Determination Date applicable to such special determination of Borrowing Base. Within forty-five (45) calendar days of receipt by the Agent of the Engineering Report(s), the Related Asset Report(s) and other information requested by the Agent (a "Determination Date"), the Banks shall redetermine the Borrowing Base in accordance with the procedure set forth in Section 3.2 which Borrowing Base shall become effective on the Determination Date applicable to such special determination of Borrowing Base and shall remain in effect until the next Determination Date.
