Global Borrowing Base Designation Notice definition

Global Borrowing Base Designation Notice is defined in Section 2.7(b).

Global Borrowing Base Designation Notice. Upon receipt of such Global Borrowing Base Designation Notice, Borrower shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d).

Global Borrowing Base Designation Notice is defined in SECTION 2.7(b).

Examples of Global Borrowing Base Designation Notice in a sentence

• The Parent shall be deemed to have agreed to the Global Borrowing Base as set forth in such Global Borrowing Base Designation Notice unless it informs the Global Administrative Agent in writing of its objection thereto prior to the date it designates the Allocated U.S. Borrowing Base and Allocated Canadian Borrowing Base pursuant to Section 2.7(d) following its receipt of such Global Borrowing Base Designation Notice.

• Upon approval or deemed approval by the Borrowing Base Required Lenders of the Global Borrowing Base, the Global Administrative Agent upon notice thereof shall, by written notice to Borrower, the Agents and the Combined Lenders, designate the new Global Borrowing Base available to Borrower and the Canadian Borrowers as of May 1st of such calendar year (each such notice in this Section 2.7(b) or 2.7(c) below, herein a "Global Borrowing Base Designation Notice").

• Upon receipt of such Global Borrowing Base Designation Notice, Borrower shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d).

• If the Combined Commitments are in effect and/or any Combined Obligations are outstanding, then upon receipt of such Global Borrowing Base Designation Notice, the Parent shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d).

• SECOND: The foregoing amendment was duly adopted in accordance with the provisions of Sections 242 and 228 of the General Corporation Law of the State of Delaware.

• Upon receipt of such Global Borrowing Base Designation Notice, Borrower shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with SECTION 2.7(d).

• If the Combined Revolving Commitments are in effect and/or any Combined Revolving Obligation is outstanding, then the Global Borrowing Base Designation Notice shall also set forth the then applicable Revolving Borrowing Base.

• Upon approval or deemed approval by the Super Majority Lenders or the Majority Lenders, as applicable, of the Global Borrowing Base, the Global Administrative Agent upon notice thereof shall, by written notice to the Parent, and the Lenders, designate the new Global Borrowing Base available to the Borrower (each such notice in this Section 2.7(b) below, herein a "Global Borrowing Base Designation Notice").

• If the Combined Commitments are in effect and/or any Combined Obligations are outstanding, then upon receipt of such Global Borrowing Base Designation Notice, the Borrower shall designate the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d).

• If the Combined Revolving Commitments are in effect and/or any Combined Revolving Obligations are outstanding, then upon receipt of such Global Borrowing Base Designation Notice, the Borrower shall designate the U.S. Revolving Borrowing Base and the Canadian Revolving Borrowing Base to the Global Administrative Agent in accordance with Section 2.7(d).