Common use of Compliance with Borrowing Base Clause in Contracts

Compliance with Borrowing Base. After giving pro forma effect to the proposed Credit Extension, (i) the outstanding Revolving Exposure plus the outstanding Tranche B Exposure shall not exceed the result of the Borrowing Base minus the U.S. Minimum Availability Requirement plus (without duplication) the Canadian Borrowing Base minus the Canadian Minimum Availability Requirement plus the Tranche B Borrowing Base, in each case as then in effect, (ii) the sum of all Lenders’ US Revolving Exposures shall not exceed the result of (A) the Borrowing Base minus (B) the U.S. Minimum Availability Requirement, in each case as then in effect, (iii) the sum of all Lenders’ Canadian Exposures shall not exceed the result of (A) the Canadian Borrowing Base minus (B) the Canadian Minimum Availability Requirement, in each case as then in effect and (iv) the sum of all Lenders’ Revolving Exposures shall not exceed the Revolving Commitments less the Line Reserve then in effect.

Compliance with Borrowing Base. After giving pro forma effect to the proposed Credit ExtensionExtension and as evidenced by a Borrowing Base Certificate delivered concurrently with the Borrowing Request, (i) the outstanding Revolving Exposure plus the outstanding Tranche B Exposure shall not exceed the result of the Borrowing Base minus the U.S. Minimum Availability Requirement plus (without duplication) the Canadian Borrowing Base minus the Canadian Minimum Availability Requirement plus the Tranche B Borrowing BaseRequirement, in each case as then in effect, (ii) the sum of all Lenders’ US Revolving Exposures shall not exceed the result of (A) the Borrowing Base minus (B) the U.S. Minimum Availability Requirement, in each case as then in effect, (iii) the sum of all Lenders’ Canadian Exposures shall not exceed the result of (A) the Canadian Borrowing Base minus (B) the Canadian Minimum Availability Requirement, in each case as then in effect and (iv) the sum of all Lenders’ Revolving Exposures shall not exceed the Revolving Commitments less the Line Reserve then in effectCommitments.