Common use of Borrowing Base Value Clause in Contracts

Borrowing Base Value. Borrowing Base Values will be adjusted downward as of the end of a Fiscal Quarter if application of the formula described in clause (b) of the definition of Borrowing Base Value justifies such adjustment. In the event the Borrowing Base Value of any Borrowing Base Property is increased, such increase shall not become effective until Borrower delivers to Agent an endorsement, if necessary, to Agent's title insurance policy increasing the amount thereof as related to such Borrowing Base Property to not less than one hundred percent (100%) of the adjusted Borrowing Base Value.

Borrowing Base Value. Borrowing Base Values will be -------------------- adjusted downward as of the end of a Fiscal Quarter if application of the formula described in clause (b) of the definition of Borrowing Base Value ---------- justifies such adjustment. In the event the Borrowing Base Value of any Borrowing Base Property is increased, such increase shall not become effective until Borrower delivers to the Administrative Agent an endorsement, if necessary, to the Administrative Agent's title insurance policy increasing the amount thereof as related to such Borrowing Base Property by the adjustment to not less than one hundred percent (100%) of the adjusted Borrowing Base Value.