Borrowing Base Equalization Date definition

Borrowing Base Equalization Date means the date which is the earlier of (i) June 29, 2008 and (ii) the date (after consummation of the Acquisition) on which the Parent Guarantor (and has contributed such net cash proceeds to the Borrower) or the Borrower shall issue equity or debt securities in an aggregate amount of net cash proceeds at least equal to $200,000,000.

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Borrowing Base Equalization Date means October 31, 2012.”

Borrowing Base Equalization Date means May 2, 2012.”

Examples of Borrowing Base Equalization Date in a sentence

On and after the Borrowing Base Equalization Date, the Borrowing Base shall equal the Conforming Borrowing Base then in effect and all references to Conforming Borrowing Base and Borrowing Base shall mean the Borrowing Base then in effect.
Prior to the Borrowing Base Equalization Date, any increase in the Conforming Borrowing Base as a result of the most recent redetermination thereof shall result in an equal increase in the Borrowing Base.
Before the Borrowing Base Equalization Date the term “Borrowing Base” has the meaning set forth below, and will be determined in relation to the Conforming Borrowing Base.
After the Borrowing Base Equalization Date, information regarding the Conforming Borrowing Base may be omitted from subsequent Borrowing Requests.
The term “Conforming Borrowing Base” means, as of the date of determination thereof prior to the Borrowing Base Equalization Date, the designated loan value as calculated by Lenders in their sole discretion assigned to the discounted present value of future net income accruing to the Borrowing Base Properties, based upon Lenders’ in-house evaluation of Borrowing Base Properties.
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.
On the Borrowing Base Equalization Date, the Borrowing Base shall be reduced to an amount equal to the Conforming Borrowing Base.
For the period from and including the Effective Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $850,000,000 and the amount of the Conforming Borrowing Base shall be $685,000,000; provided that for the period from the Effective Date until the Borrowing Base Equalization Date the Borrowing Base shall not be less than $850,000,000.
On and after the Borrowing Base Equalization Date, the term “Borrowing Base” means, as of the date of determination thereof, the designated loan value as calculated by Lenders in their sole discretion assigned to the discounted present value of future net income accruing to the Borrowing Base Properties, based upon Lenders’ in-house evaluation of Borrowing Base Properties.
Upon receipt of the Proposed Borrowing Base Notice, each Lender shall have fifteen (15) days to agree with the Proposed Borrowing Base or disagree with the Proposed Borrowing Base by proposing an alternate Borrowing Base (which proposal must prior to the Borrowing Base Equalization Date also propose a Conforming Borrowing Base).

More Definitions of Borrowing Base Equalization Date

Borrowing Base Equalization Date means the earlier of (a) June 30, 2014, (b) the date after the Third Amendment Effective Date on which the Borrower receives Net Cash Proceeds from the issuance of senior unsecured notes in either a registered public offering or in a private placement conducted pursuant to Rule 144A under the Securities Act of 1933 and Regulation S in an amount greater than or equal to $10,000,000 in accordance with the terms of this Agreement or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and Borrower voluntarily informs the Administrative Agent in writing that the Conforming Borrowing Base and the Borrowing Base are and will be the same.

Borrowing Base Equalization Date means the earliest of (a) December 31, 2012, (b) the second Business Day immediately following the date of receipt by Parent of Net Cash Proceeds from the closing of the IPO, or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and the Borrower voluntarily informs the Administrative Agent in writing that the Conforming Borrowing Base and the Borrowing Base are and will be the same.

Borrowing Base Equalization Date means the earlier of (a) December 31, 2013, (b) the second Business Day following receipt by Parent of Net Cash Proceeds from the closing of a secondary public offering of Equity Interests by Parent in an amount greater than or equal to $25,000,000 or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and Borrower voluntarily informs the Administrative Agent in writing that the Conforming

Borrowing Base Equalization Date means the Sixth Amendment Effective Date.

Borrowing Base Equalization Date contained in Section 1.01 of the Original Credit Agreement is hereby amended to read in its entirety as follows:

Borrowing Base Equalization Date means February 5, 2009.