Common use of Borrowing Base Maintenance Clause in Contracts

Borrowing Base Maintenance. If there exists a Receivables Loan Borrowing Base Shortfall for any reason other than an Ineligibility Event which is subject to the provisions of paragraph 3.2 and Borrower knows of the occurrence of such condition or should have known of its occurrence by virtue of reports required to be delivered to Lender, Borrower, without notice or demand, will immediately (a) make to Lender a principal payment in an amount equal to the Receivables Loan Borrowing Base Shortfall plus accrued and unpaid interest on such principal payment or (b) deliver to Lender or cause the Receivables Trustee to deliver to Lender one or more Eligible Instruments having an aggregate Receivables Loan Borrowing Base not less than the Receivables Loan Borrowing Base Shortfall. Simultaneously with the delivery of Eligible Instruments to correct a Receivables Loan Borrowing Base Shortfall, Borrower will deliver to Lender or cause Receivables Trustee to deliver to Lender all of the items (except for a "Request for Receivables Advance and Certification") required to be delivered by Borrower (or Receivables Trustee) to Lender pursuant to paragraph 4.2, together with a "Borrower's Certificate" in form and substance identical to Exhibit C.

Borrowing Base Maintenance. If there exists a Receivables Loan Borrowing Base Shortfall for any reason other than an Ineligibility Event which is subject to the provisions of paragraph 3.2 and Borrower knows of the occurrence of such condition or should have known of its occurrence by virtue of reports required to be delivered to Lender, Borrower, without notice or demand, will immediately (a) make to Lender a principal payment in an amount equal to the Receivables Loan Borrowing Base Shortfall plus accrued and unpaid interest on such principal payment or (b) deliver to Lender or cause the Receivables Trustee to deliver to Lender one or more Eligible Instruments having an aggregate Receivables Loan Borrowing Base not less than the Receivables Loan Borrowing Base Shortfall. Simultaneously with the delivery of Eligible Instruments to correct a Receivables Loan Borrowing Base Shortfall, Borrower will deliver to Lender or cause Receivables Trustee to deliver to Lender all of the items (except for a "Request for Receivables Advance and Certification") required to be delivered by Borrower (or Receivables Trustee) to Lender pursuant to paragraph 4.2, together with a "Borrower's Certificate" in form and substance identical to Exhibit C.