Borrowing Base Asset Sample Clauses

Borrowing Base Asset. (a) The authority or ability of the Borrower to conduct its business with respect to the Borrowing Base Asset is limited or wholly or substantially curtailed by any seizure, expropriation or nationalisation by or on behalf of any Governmental Authority or a Governmental Authority announces its intention to do any of the foregoing. (b) All or part of the Borrowing Base Asset or all or part of the shares of the Borrower or any Field Hydrocarbons or revenues from the sale of Field Hydrocarbons derived or to be derived from the Borrowing Base Asset is or are seized, expropriated, nationalised or compulsorily acquired by any Governmental Authority or any Governmental Authority announces its intention to do any of the foregoing. (c) Any decision is taken by the Borrower, its co-venturers in the Borrowing Base Asset or the Operator, without the prior written consent of the Administrative Agent, to abandon or decommission all or part of the Borrowing Base Asset; provided that any such decision to abandon or decommission shall not give rise to an Event of Default under this Clause 28.11 if: (i) the abandonment or decommissioning has already been taken into account in the then current Banking Case; or (ii) the Borrower can demonstrate to the satisfaction of the Administrative Agent and Lead Technical Bank (acting in consultation with the Technical Bank) that, if the abandonment or decommissioning were taken into account in the then current Banking Case, no Borrowing Base Deficiency or Default pursuant to Clause 28.16 (Cover ratios) would arise. (d) Any Infrastructure is destroyed or damaged or all or part of the Borrowing Base Asset is damaged where the same: (i) has or could reasonably be expected to have a material adverse effect on the ability of the Borrower to perform its obligations under the Finance Documents; or (ii) could reasonably be expected to trigger an Event of Default pursuant to Clause 28.17 (Cessation of Production).

Borrowing Base Asset. Borrowing Base Asset shall mean any Eligible Asset which satisfies the conditions set forth in §7.17(a). The initial Borrowing Base Assets are described on Schedule 7.17 hereto.

Borrowing Base Asset. The Project together with any one or more Units or other improvements constructed or under construction within the Brightwater community in Huntington Beach, California, which as of any date of determination are subject to the lien of the Security Deed.

Borrowing Base Asset. Each Borrowing Base Asset included in any calculation of the Aggregate Borrowing Base Asset Value is, at the time of such calculation, an Eligible Asset. Schedule 4.01(ee) attached hereto sets forth a list (the “Borrowing Base Asset List”) of the Borrowing Base Assets in the Borrowing Base Pool as of the Closing Date (the “Initial Borrowing Base Assets”).