Change in Borrowing Base Clause Samples

Change in Borrowing Base. The Borrowing Base shall be determined monthly (or at such other interval as may be specified pursuant to ss.9.4(f)) by the Agent by reference to the Borrowing Base Report delivered to the Banks and the Agent pursuant to ss.

Change in Borrowing Base. The Borrowing Base shall be determined weekly (or at such other interval as may be specified pursuant to Section 8.4(i)) by the Agent by reference to the Borrowing Base Report.

Change in Borrowing Base. The Borrowing Base shall be calculated (based on the application of the formula contained in the definition of “Borrowing Base”) by the Borrower pursuant to a Borrowing Base Report delivered to the Administrative Agent with the Loan Request and at such other intervals as may be specified pursuant to §8.4(f) by reference to the Borrowing Base Report most recently delivered to the Lenders and the Administrative Agent. The Administrative Agent shall give to the Borrower written notice of the amount of the Borrowing Base determined by the Administrative Agent as a result of its calculation thereof to the extent that the Administrative Agent’s calculation thereof differs from that of the Borrower. Prior to the time any such notice becomes effective, the Borrowing Base shall be computed as it would have been computed in the absence of such notice.

Change in Borrowing Base. The Borrowing Base shall be determined ------------------------- monthly (or at such other interval as may be specified pursuant to ss.8.4(f)) by the Agent by reference to the Borrowing Base Report, commercial finance and collateral audit reports, and other information obtained by or provided to the Agent. The Agent shall give to the Borrower written notice of any change in the Borrowing Base determined by the Agent.

Change in Borrowing Base. The Borrowing Base shall be calculated (based on the application of the formula contained in the definition of “Borrowing Base”) by the Borrower in connection with the delivery of each Loan Request and, in any case, no less frequently than monthly (and at such other intervals as may be specified pursuant to §8.4(f)) by reference to the Borrowing Base Report most recently delivered to the Lenders and the Administrative Agent and such other information obtained by, or provided to, the Administrative Agent.

Change in Borrowing Base. The Borrowing Base shall be determined by the Administrative Agent upon receipt of each Loan Request and, in any case, no less frequently than monthly (and at such other intervals as may be specified pursuant to §8.4(f)) by reference to the Borrowing Base Report most recently delivered to the Lenders and the Administrative Agent pursuant to §8.4(h) and other information obtained by, or provided to, the Administrative Agent. The Administrative Agent shall give to the Borrower written notice of any change in the Borrowing Base determined by the Administrative Agent. Prior to the time any such notice becomes effective, the Borrowing Base shall be computed as it would have been computed in the absence of such notice.

Change in Borrowing Base. The Borrowing Base shall be determined monthly by the Agent by reference to the Borrowing Base Report delivered to the Lenders and the Agent pursuant to Section 8.4(f).

Change in Borrowing Base. (a) The Borrowing Base shall be determined by the Agent by reference to the Borrowing Base Report required to be delivered pursuant to ss.8.4(f)(A). (b) The Agent may, in its reasonable discretion, from time to time, reduce the Borrowing Base by such amounts ("Reserves") as the Agent may from time to time establish and revise (a) to reflect events, conditions, contingencies or risks which do or may adversely affect either (A) any Collateral, the rights of the Agent or any of the Lenders in any Collateral or its value or (B) the security interest and other rights of the Agent or any of the Lenders in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect the belief of the Agent that any Borrowing Base Report or other collateral report or financial information furnished by or on behalf of the Borrowers to the Agent or any of the Lenders is or may have been incomplete, inaccurate or misleading in any material respect. Reserves may include, but are not limited to: reserves to reflect (a) an increase in the dilution of Accounts Receivable, (b) material changes in the number of days turnover in inventory, (c) the deterioration in any material respect of the liquidation value of inventory or a change in the mix of inventory, (d) taxes and other governmental charges, whether ad valorem, personal property or otherwise and whether or not the tax claims therefor may have priority over the Agent's security interest in any of the Collateral, (e) any customs, duty, freight or other out-of-pocket costs or expenses required or advisable to "land" any Eligible Inventory the purchase of which is supported by a Letter of Credit and (f) any offset claims which an account debtor has against any Account Receivable. (c) The Agent shall give to the Borrowers written notice of any change in the Borrowing Base determined by the Agent. Such notice shall be effective immediately upon its receipt by the Borrowers. Notwithstanding anything contained in this Agreement to the contrary, it shall not constitute an Event of Default (but shall constitute a Default) to the extent that the Loans, and all Letter of Credit Exposure exceeds the Borrowing Base as adjusted pursuant to this Section 2.9 until five (5) days after the Borrowers receipt of notice of such change in the Borrowing Base.

Change in Borrowing Base. If checked here, the Borrowing Base is hereby changed to an amount equal to the sum of (i) xxxxxxxxxxxx % of the face amount of Eligible Accounts, and (ii) the lesser of $ xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx or xxxxxxxxxxxxxxx % of the Borrower’s cost of Eligible Inventory, as such cost may be diminished as a result of any event causing loss or depreciation in value of Eligible Inventory less (iii) the current outstanding loan balance on note(s) in the original amount(s) of $ xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx, and less (iv) undrawn amounts of outstanding letters of credit issued by Bank or any affiliate thereof. The Borrower will provide the Bank with information regarding the Borrowing Base in such form and at such times as the Bank may request. The terms used in this section will have the meanings set forth in a supplement entitled “Financial Definitions,” a copy of which the Borrower acknowledges having received with this Amendment, which is incorporated herein by reference and which replaces any prior Financial Definitions supplement.