Borrowing Base Deficiency Notice definition

Borrowing Base Deficiency Notice has the meaning assigned to such term in Section 3.03(c)(ii).

Borrowing Base Deficiency Notice shall have the meaning set forth in Section 2.6.

Borrowing Base Deficiency Notice means a notice from Administrative Agent to Borrower that a Borrowing Base Deficiency exists because of a periodic or special redetermination made pursuant to Section 2.9(b) or Section 2.9(c)(i).

Examples of Borrowing Base Deficiency Notice in a sentence

• If the Borrower elects to prepay an amount in accordance with Section 3.03(c)(ii)(A) above, then the Borrower may make such prepayment in six (6) equal consecutive monthly installments beginning within thirty (30) days after Borrower’s receipt of the Borrowing Base Deficiency Notice and continuing on the same day of each month thereafter; provided that all payments required to be made pursuant to this Section 3.03(c)(ii)(B)(1) must be made on or prior to the Termination Date.

• If the Borrower fails to make an election within such ten (10) Business Day period after the Borrower’s receipt of the Borrowing Base Deficiency Notice, then Borrower shall be deemed to have selected the prepayment option specified in clause (1) above.

• If Borrower fails to make an election within 30 days after Borrower’s receipt of the Borrowing Base Deficiency Notice, then Borrower shall be deemed to have selected the prepayment option specified in clause (A) above.

• If the Borrower fails to make an election within ten (10) Business Days after the Borrower’s receipt of the Borrowing Base Deficiency Notice, then Borrower shall be deemed to have selected the prepayment option specified in Section 3.03(c)(ii)(A)(1).

• If Borrower elects (or is deemed to have elected) to prepay an amount in accordance with Section 2.9(e)(i)(A) above, then Borrower may make such prepayment in one installment within 90 days after Borrower’s receipt of the Borrowing Base Deficiency Notice or, provided no Default has occurred and is continuing, in 6 equal consecutive monthly installments beginning within 30 days after Borrower’s receipt of the Borrowing Base Deficiency Notice and continuing on the same day of each month thereafter.

More Definitions of Borrowing Base Deficiency Notice

Borrowing Base Deficiency Notice means a written notice from the Borrower to the Lender substantially in the form of Exhibit M to this Loan Agreement.

Borrowing Base Deficiency Notice is defined in Section 3.5.

Borrowing Base Deficiency Notice has the meaning specified in Section 4.06(a).

Borrowing Base Deficiency Notice means written notice (which notice may be sent electronically) delivered by the Lender to the Borrower that the date of such notice is a Borrowing Base Shortfall Day.

Borrowing Base Deficiency Notice. See Section 3.5(a).

Borrowing Base Deficiency Notice as defined in SECTION 3.2(B).

Borrowing Base Deficiency Notice means a notice from Lender to Borrower that the total Revolving Credit Exposure of Lender exceeds the amount of the Borrowing Base because of a periodic or special redetermination made pursuant to Section 2.9(b) or Section 2.9(c) (or a periodic or special redetermination combined with the Monthly Reduction Amount).