Common use of Borrowing Base Deficit Clause in Contracts

Borrowing Base Deficit. No later than one (1) Business Day (but no earlier than five (5) Business Days) prior to the consummation of the VMC Group Divestiture, the Company (or the Servicer on its behalf) shall deliver to the Administrative Agent the most recently delivered Interim Report, which Interim Report also shall include a pro forma calculation to give effect to the consummation of Step 1, Step 2, Step 3 and Step 4. In the event that such pro forma calculation shall reflect the existence of a pro forma Borrowing Base Deficit, then the Company shall pay, on or prior to the date on which such Borrowing Base Deficit would first arise and in all cases prior to the PNC Group Release, a portion of the outstanding Aggregate Capital at such time and/or a portion of the Adjusted LC Participation Amount, in an aggregate amount equal to the amount necessary to reduce such Borrowing Base Deficit to zero ($0). Solely with respect to such reduction, the parties hereto hereby waive the one (1) Business Day notice requirement set forth in Section 2.02(d) of the Receivables Financing Agreement and agree that the Servicer shall make the related payments under Sections 2.02(d), 3.04 and 3.05 of the Receivables Financing Agreement, as applicable, in accordance with the preceding sentence (rather than at least one (1) Business Day after the date of the notice contemplated by such Section 2.02(d)).