Lender Redetermination Notice definition

Lender Redetermination Notice a notice from the Supermajority Lenders to the Borrower giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Supermajority Lenders at any time they so elect, provided that such an election can be made by the Supermajority Lenders no more than once during any consecutive 12 month period.
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Lender Redetermination Notice a notice from the Required Lenders to EPC giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Required Lenders at any time they so elect, provided that such an election (excluding any mandatory redetermination of the Borrowing Base made in connection with the issuance of Subordinated Indebtedness pursuant to subsection 4.9(d)(iii), any Disposition of Borrowing Base Properties described in subsection 8.6(c) or (d), the failure of the Borrowers to comply with the Continuing 50% Test, and the substitution as Collateral of Oil and Gas Properties having a value in excess of 10% of the PV-10 Value of the Borrowing Base Properties at such time) can be made by the Required Lenders no more than once between Scheduled Redetermination Dates.
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Lender Redetermination Notice a notice from the Required Lenders to the Borrowers’ Representative giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Required Lenders at any time they so elect, provided that such an election (excluding any mandatory redetermination of the Borrowing Base made in connection with the issuance of Subordinated Indebtedness pursuant to Section 4.9(e), any Disposition of Borrowing Base Properties described in Section 8.6(d), the failure of the Borrowers to comply with the Continuing 70% Test, and the substitution as Collateral of Oil and Gas Properties having a value in excess of 10% of the PV-10 Value of the Borrowing Base Properties at such time) can be made by the Required Lenders no more than once between Scheduled Redetermination Dates.
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Examples of Lender 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.

  • Following the receipt of such notice the Required Banks shall have the right to serve a Lender Redetermination Notice on the Borrowers’ Representative, which Lender Redetermination Notice shall not count towards the maximum number of such Notices which the Required Lenders may otherwise serve between Scheduled Redetermination Dates.

  • Following the receipt of such notice the Required Banks shall have the right to serve a Lender Redetermination Notice on EPC, which Lender Redetermination Notice shall not count towards the maximum number of such Notices which the Required Lenders may otherwise serve between Scheduled Redetermination Dates.

  • 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.

  • 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.

  • 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 Lender Redetermination Notice

Lender Redetermination Notice a notice from the Supermajority Lenders to the Borrower giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Supermajority Lenders at any time they so elect, PROVIDED that (i) such an election (excluding any mandatory redetermination of the Borrowing Base made in connection with the issuance of Subordinated Indebtedness pursuant to subsection 8.2) can be made by the Supermajority Lenders no more than once during any consecutive 12 month period and (ii) such an election may not be made until after the Initial Period.
Sample 1
Lender Redetermination Notice a notice from the Required Lenders to the Borrower’s Representative giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Required Lenders at any time they so elect, provided that such an election (excluding any mandatory redetermination of the Borrowing Base made in connection with the issuance of Subordinated Indebtedness pursuant to subsection 4.9(d)(iii)) can be made by the Required Lenders no more than once between Scheduled Redetermination Dates.
Sample 1
Lender Redetermination Notice a notice from the Required Lenders to the Borrower’s Representative giving notice of their election to redetermine the Borrowing Base, which notice may be sent by the Required Lenders at any time they so elect, provided that such an election (excluding any mandatory redetermination of the Borrowing Base made in connection with the issuance of Subordinated Indebtedness pursuant to subsection 4.9(d)(iii), any Disposition of Borrowing Base Properties described in subsection 8.6(c) or (d), the failure of the Borrowers to comply with the Continuing 70% Test, the substitution as Collateral of Oil and Gas Properties having a value in excess of 10% of the PV-10 Value of the Borrowing Base Properties at such time, and the prepayment or purchase of the Senior Notes in accordance with subsection 8.9(w)) can be made by the Required Lenders no more than once between Scheduled Redetermination Dates.
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Related to Lender 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).

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

  • 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).

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

  • 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).

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

  • Determination Notice is defined in Section 6.1(b)(i) of the Agreement.

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • Commitment Reduction Notice has the meaning given that term in Section 2.13.

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

  • Increase Notice has the meaning specified in Section 2.05(c)(ii).

  • Valuation Notice means the notice given by the Partnership pursuant to Section 8.5(b) or Section 8.6(a) and stating the Initial Value at which a Purchase Right is to be exercised or at which a Repurchase Obligation is to be effected.

  • Redetermination means any Scheduled Redetermination or Special Redetermination.

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

  • Currency Valuation Notice means a notice given by the Required Multicurrency Lenders to the Administrative Agent stating that such notice is a “Currency Valuation Notice” and requesting that the Administrative Agent determine the aggregate Revolving Multicurrency Credit Exposure. The Administrative Agent shall not be required to make more than one valuation determination pursuant to Currency Valuation Notices within any rolling three month period.

  • Discounted Prepayment Determination Date has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • LIBOR Interest Determination Date means the second LIBOR Business Day preceding each LIBOR Rate Reset Date.

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Reduction Notice has the meaning set forth in Section 1.3.

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

  • SOFR Interest Determination Date means the day that is the number of U.S. Government Securities Business Days prior to the Interest Payment Date in respect of the relevant Interest Period, as specified in the applicable Pricing Supplement.In addition to defining the relevant Interest Periods and Interest Payment Dates, the applicable Pricing Supplement shall specify and describe, as applicable, any relevant interest commencement date, interest period end date, interest determination date, index maturity, rate cut-off date, any other terms relating to the particular method of calculating interest on the Compound SOFR Note (including any applicable payment delay, lockout or suspension period, lookback or observation shift) and any other terms applicable specifically to such Compound SOFR Note.Average SOFR NotesUnless otherwise provided for or modified in the applicable Pricing Supplement, Average SOFR Notes will bear interest at a rate per annum equal to Average SOFR (as defined below) plus the Spread.With respect to any Interest Period, unless otherwise specified or modified in the applicable Pricing Supplement, “Average SOFR” will be calculated by the Calculation Agent on each SOFR Interest Determination Date (as defined below) as follows (with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with 0.000005 being rounded upwards to 0.00001): 0 Where:

  • Increased Facility Activation Notice means a notice substantially in the form of Exhibit B-1.

  • Discounted Prepayment Option Notice has the meaning specified in Section 2.05(d)(ii).

  • New Funds Amount means the amount equal to the product of a Lender’s increased Commitment or a CI Lender’s Commitment (as applicable) represented as a percentage of the aggregate Commitments after giving effect to any Commitment Increase, times the aggregate principal amount of the outstanding Loans immediately prior to giving effect to such Commitment Increase, if any, as of any Commitment Increase Effective Date (without regard to any increase in the aggregate principal amount of Loans as a result of borrowings made after giving effect to such Commitment Increase on such Commitment Increase Effective Date); (ii) “Reducing Percentage Lender” means each then existing Lender immediately prior to giving effect to any Commitment Increase that does not increase its respective Commitment as a result of such Commitment Increase and whose relative percentage of the Commitments shall be reduced after giving effect to such Commitment Increase; and (iii) “Reduction Amount” means the amount by which a Reducing Percentage Lender’s outstanding Loans decrease as of any Commitment Increase Effective Date (without regard to the effect of any borrowings made on such Commitment Increase Effective Date after giving effect to the Commitment Increase occurring on such Commitment Increase Effective Date).

  • Interest Determination Date means, with respect to a Rate of Interest and Interest Accrual Period, the date specified as such hereon or, if none is so specified, (i) the first day of such Interest Accrual Period if the Specified Currency is Sterling or (ii) the day falling two Business Days in London for the Specified Currency prior to the first day of such Interest Accrual Period if the Specified Currency is neither Sterling nor euro or (iii) the day falling two TARGET Business Days prior to the first day of such Interest Accrual Period if the Specified Currency is euro.

  • Reset Interest Determination Date means, in respect of any Reset Period, the day falling two Business Days prior to the beginning of the relevant Reset Period;