Common use of Optional Repurchase Clause in Contracts

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of all remaining Collateral; provided that all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of all such Collateral for a price equal to the Aggregate Unpaids and the proceeds of such transaction will be deposited into the Collection Account and paid in accordance with Section 2.10.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of purchase all remaining CollateralAssets; provided that provided, that, all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of purchase all such Collateral Assets for a price equal to the Aggregate Unpaids and the proceeds of such transaction purchase will be deposited into the Collection Account and paid in accordance with Section 2.102.8.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) % percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of purchase all remaining Collateral; provided that all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of purchase all such Collateral for a price equal to the Aggregate Unpaids and the proceeds of such transaction purchase will be deposited into the Collection Account and paid in accordance with Section 2.10.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) 10% percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of purchase all remaining CollateralAssets and to pay all outstanding Aggregate Unpaids; provided that provided, that, all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of purchase all such Collateral Assets for a price equal to the Aggregate Unpaids and the proceeds of such transaction purchase will be deposited into the Collection Account and paid in accordance with Section 2.102.8.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of all remaining Collateral; provided provided, that all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of all such Collateral for a price equal to the Aggregate Unpaids and the proceeds of such transaction will be deposited into the Collection Account and paid in accordance with Section 2.10.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of purchase all remaining Collateral; provided that all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of purchase all such Collateral for a price equal to the Aggregate Unpaids and the proceeds of such transaction purchase will be deposited into the Collection Account and paid in accordance with Section 2.10.

Optional Repurchase. At any time following the Termination Date when the Borrowing Base is less than fifteen (15%) percent of the Borrowing Base as of the Termination Date, the Seller may notify the Administrative Agent and each Purchaser Agent in writing of its intention to secure the release of purchase all remaining Collateral; provided that provided, that, all Hedge Transactions have been terminated in accordance with their terms. On the Payment Date next succeeding any such notice, the Seller shall secure the release of purchase all such Collateral for a price equal to the Aggregate Unpaids and the proceeds of such transaction purchase will be deposited into the Collection Account and paid in accordance with Section 2.10.