Common use of Additional Borrowing Base Certificates Clause in Contracts

Additional Borrowing Base Certificates. In the event that any Loan Party or any Subsidiary shall engage in (i) any transaction or series of related transactions permitted by permitted by any of Section 8.5(k), (l) or (n) or (ii) any other transaction or series of related transactions (other than any transaction or series of related transactions arising from activities of the Loan Parties in the ordinary course of business and not prohibited by this Agreement), in each case, which results in (A) the sale, transfer, or other disposition (including pursuant to the sale of Equity Interests in a Subsidiary, or a merger, liquidation, amalgamation, division, contribution of assets, Equity Interests or Indebtedness or otherwise) of assets included in the determination of the Borrowing Base, or (B) the exclusion and/or removal of assets which were included in the determination of the Borrowing Base (including, as a result of the application of the eligibility criteria, in each case of clause (A) and (B), as determined by reference to the Borrowing Base Certificate most recently delivered to the Agent pursuant to Section 7.11(e) and in an aggregate amount for any single or series of related transactions (or other applicable events) in excess of $1,000,000, then prior to or concurrently with the consummation of any such transaction or series of related transactions (or other applicable events), an updated Borrowing Base Certificate reflecting such transactions or series of related transactions (or other applicable events) on a pro forma basis as of the date of the most recently delivered Borrowing Base Certificate, and demonstrating that no Overadvance shall result from such transaction or series of related transactions (or other applicable events).