Common use of Borrowing Base Increase Fee Clause in Contracts

Borrowing Base Increase Fee. A fee shall be paid for each incremental increase in the new Borrowing Base over the previously existing Borrowing Base. The amount of each such fee shall be determined by Agent in accordance with then prevailing market conditions and shall be shared among Lenders in accordance with their Applicable Percentages. There shall be no obligation imposed upon Borrower to accept an increase of the Borrowing Base proposed by Lenders. However, if Borrower accepts the increase in the Borrowing Base, the fee shall be due and payable immediately and without regard as to whether Borrower ever borrows the increased amount available under such new Borrowing Base. Determinations of when a fee is due shall be made by Agent and shall be conclusive and binding on the parties absent manifest error.

Borrowing Base Increase Fee. A fee shall be paid for each incremental increase in the new Borrowing Base over the previously existing Borrowing Base. The amount of each such fee shall be determined by Agent in accordance with then prevailing market conditions and shall be shared among Lenders in accordance with their Applicable Percentagesone quarter of one percent (0.25%) of the incremental increase. There shall be no obligation imposed upon the Borrower to accept an increase of the Borrowing Base proposed by the Lenders. However, if the Borrower accepts the increase in the Borrowing Base, the fee shall be due and payable immediately and without regard as to whether the Borrower ever borrows the increased amount available under such new Borrowing Base. Determinations of when a fee is due shall be made by Bank and shall be conclusive and binding on the parties absent manifest error. Determinations of when a fee is due shall be made by the Agent and shall be conclusive and binding on the parties absent manifest error.

Borrowing Base Increase Fee. A fee shall be paid for each incremental increase in the new Borrowing Base over the previously existing Borrowing Base. The amount of each such fee shall be determined by Agent in accordance with then prevailing market conditions and shall be shared among Lenders in accordance with their Applicable Percentagesone-half of one percent (0.50%) of the incremental increase. There shall be no obligation imposed upon Borrower to accept an increase of the Borrowing Base proposed by LendersBank. However, if Borrower accepts the increase in the Borrowing Base, the fee shall be due and payable immediately and without regard as to whether Borrower ever borrows the increased amount available under such new Borrowing Base. Determinations of when a fee is due shall be made by Agent Bank and shall be conclusive and binding on the parties absent manifest error.