Borrowing Base Redetermination. The Required Lenders and the Borrower agree that on and after the Effective Date and until the next Redetermination Date, the amount of the Borrowing Base shall be immediately and automatically reduced to $85,000,000. The foregoing shall constitute the Scheduled Redetermination for the May 1, 2019 Scheduled Redetermination Date pursuant to Section 2.08(c) of the Credit Agreement.
Appears in 3 contracts
Sources: Credit Agreement, Credit Agreement (Contango Oil & Gas Co), Credit Agreement