Additional Borrowing Base Request shall have the meaning set forth in Section 3.4.
New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).
Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).
Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.
Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).
Domestic Borrowing Base means, at any time of calculation, an amount equal to:
Initial Borrowing means the first Borrowing made pursuant to this Agreement.
Advance Request means a request for an Advance submitted by Borrower to Lender in substantially the form of Exhibit A.
Foreign Borrowing Base means, as of any date, an amount equal to:
U.S. Borrowing Base means, as of any date of determination, the result of:
Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.
Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).
Facility Increase Request means the notice in the form of Exhibit H pursuant to which the Borrowers request an increase of the Maximum Commitment in accordance with Section 3.6.
Borrowing Notice is defined in Section 2.8.
Canadian Borrowing Base means, at any time, an amount in Dollars equal to:
Notice of Borrowing has the meaning specified in Section 2.02(a).
Borrowing Request means a request by the Borrower for a Borrowing in accordance with Section 2.03.
Borrowing Base means, at any time of calculation, an amount equal to:
Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.
Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.
Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.
Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.
Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.
Designated Borrower Notice has the meaning specified in Section 2.14.
Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.
Notice of Committed Borrowing has the meaning set forth in Section 2.02.
Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.