Borrower Redetermination Notice definition

Borrower Redetermination Notice a notice from EPC to the Administrative Agent requesting that the Administrative Agent redetermine the Borrowing Base, which notice may be sent by EPC at any time, provided that no more than one such notice may be delivered by EPC between Scheduled Redetermination Dates. “Borrowers’ Representative” - EPC, which is authorized to act on behalf of the Borrowers under this Agreement.
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Borrower Redetermination Notice a notice from the Borrower to the Administrative Agent requesting that the Administrative Agent redetermine the Borrowing Base, which notice may be sent by the Borrower at any time, provided no more than two such notices may be delivered by the Borrower during any consecutive 12 month period.
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Borrower Redetermination Notice a notice from the Borrower to each member of the Engineering Committee requesting that the Engineering Committee redetermine the Borrowing Base, which notice may be sent by the Borrower at any time, PROVIDED no more than one such notice may be delivered by the Borrower during any consecutive 12 month period.
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Examples of Borrower Redetermination Notice in a sentence

  • If the Oil and Gas Properties being substituted have a value in excess of 10% of the PV-10 Value of the Borrowing Base Properties at such time, the Borrowing Base shall be redetermined prior to the date of such substitution in accordance with the procedures set forth in subsection 4.9 which would have applied had a Borrower Redetermination Notice or a Lender Redetermination Notice been delivered.

  • On or before the date which is 30 days after receipt (i) of a scheduled semi-annual Reserve Report or (ii) of a Reserve Report in connection with a Lender Redetermination Notice or a Borrower Redetermination Notice, the Administrative Agent shall redetermine the Borrowing Base in its sole discretion, and the Administrative Agent shall notify the Borrower and the Lenders of its redetermination of the Borrowing Base.

  • If the Oil and Gas Properties being substituted have a value in excess of 15% of the PV-10 Value of the Borrowing Base Properties at such time, the Borrowing Base shall be redetermined prior to the date of such substitution in accordance with the procedures set forth in Section 4.9 which would have applied had a Borrower Redetermination Notice or a Lender Redetermination Notice been delivered.

  • In addition, an Oil and Gas Acquisition described in clause (e) of the definition of Redetermination Event shall result in a mandatory redetermination of the Borrowing Base pursuant to the procedures set forth in this subsection 4.9 for a redetermination following the delivery of a Lender Redetermination Notice or a Borrower Redetermination Notice; provided that any such redetermination of the Borrowing Base must be approved by all of the Lenders.

  • In addition, an Oil and Gas Acquisition described in clause (e) of the definition of Redetermination Event shall result in a mandatory redetermination of the Borrowing Base pursuant to the procedures set forth in this subsection 4.9 for a redetermination following the delivery of a Lender Redetermination Notice or a Borrower Redetermination Notice; PROVIDED that any such redetermination of the Borrowing Base must be approved by all of the Lenders.

  • Other than in connection with the August '99 Redetermination or the Special Redetermination, on or before the date which is 30 days after receipt (i) of a scheduled semi-annual Reserve Report or (ii) of a Reserve Report in connection with a Lender Redetermination Notice or a Borrower Redetermination Notice, the Administrative Agent shall redetermine the Borrowing Base in its sole discretion, and the Administrative Agent shall notify the borrower and the Lenders of its redetermination of the Borrowing Base.

  • On or before the date which is 30 days after receipt (i) of a scheduled semi-annual Reserve Report or (ii) of a Reserve Report in connection with a Lender Redetermination Notice or a Borrower Redetermination Notice, the Agents shall re-determine the Borrowing Base in their sole discretion, and the Agents shall notify the Borrower and the Lenders of their re-determination of the Borrowing Base.

  • This Phase addresses the small MS4s in addition to the following Federal, State and Tribal agencies: • U.S. Department of Defense• State Hospitals• State Prisons• State Departments of Transportation (DOT) - not previously covered under a Phase I permit• Universities• Tribal Areas identified as small MS4s owner/operators The Phase II rule was finalized in December 1999 and required a submittal date of March 2003.

  • Other than in connection with the August '99 Redetermination or the Special Redetermination, on or before the date which is 30 days after receipt (i) of a scheduled semi-annual Reserve Report or (ii) of a Reserve Report in connection with a Lender Redetermination Notice or a Borrower Redetermination Notice, the Administrative Agent shall redetermine the Borrowing Base in its sole discretion, and the Administrative Agent shall notify the Borrower and the Lenders of its redetermination of the Borrowing Base.

  • On or before the date which is 30 days after receipt (i) of a scheduled semi-annual Reserve Report or (ii) of a Reserve Report in connection with a Lender Redetermination Notice or a Borrower Redetermination Notice, the Administrative Agent shall re-determine the Borrowing Base in its sole discretion, and the Administrative Agent shall notify the Borrower and the Lenders of its re-determination of the Borrowing Base.


More Definitions of Borrower Redetermination Notice

Borrower Redetermination Notice a notice from the Borrower under subsection 4.9(d) to the Administrative Agent requesting that the Agents and the Supermajority Lenders redetermine the Borrowing Base.
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Related to Borrower Redetermination Notice

  • Interim Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to an Interim Redetermination becomes effective as provided in Section 2.07(d).

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Scheduled Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to a Scheduled Redetermination becomes effective as provided in Section 2.07(d).

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Scheduled Redetermination has the meaning assigned such term in Section 2.07(b).

  • Interim Redetermination has the meaning assigned such term in Section 2.07(b).

  • Notice of Borrowing has the meaning specified in Section 2.02(a).

  • Borrowing Notice is defined in Section 2.8.

  • Redetermination Date means, with respect to any Scheduled Redetermination or any Interim Redetermination, the date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.07(d).

  • Notice of Committed Borrowing has the meaning set forth in Section 2.02.

  • 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.

  • 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.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Designated Borrower Notice has the meaning specified in Section 2.14.

  • Redetermination means any Scheduled Redetermination or Special Redetermination.

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Notice of Interest Rate Election has the meaning set forth in Section 2.10.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Borrower Notice means a written notice, in the form of Exhibit A, to be used for each borrowing, repayment of each Advance or termination or reduction of the Facility Amount or Prepayments of Advances.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Borrowing Request means a request by the Borrower for a Borrowing in accordance with Section 2.03.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Borrower Representative has the meaning assigned to such term in Section 11.01.

  • Swing Line Borrowing Notice is defined in Section 2.4.2.

  • Rate Determination Notice has the meaning specified in Section 3.07(g).