Reaffirmation of Borrowing Base Clause Samples

Reaffirmation of Borrowing Base. This Amendment shall constitute a notice of reaffirmation of the Borrowing Base pursuant to Section 3.04 of the Credit Agreement and the Administrative Agent hereby notifies the Borrower that, as of the date of this Amendment, the Borrowing Base shall continue to be $2,500,000,000 until the earlier of (a) next Redetermination of the Borrowing Base pursuant to Article III of the Credit Agreement and (b) the date the Borrowing Base is otherwise adjusted pursuant to the terms of the Credit Agreement. The Borrower and the Required Lenders agree that the reaffirmation of the Borrowing Base provided for in this Section 2 shall be considered and deemed to be the October 1, 2011 Scheduled Redetermination.

Reaffirmation of Borrowing Base. In reliance on the representations, warranties, covenants and agreements contained in this First Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 3, the Borrowing Base is hereby reaffirmed to be $90,000,000 effective as of the Effective Date and shall remain at $90,000,000 until the next Determination Date. For the purposes of Section 4.2 of the Credit Agreement, the redetermination set forth in this Section 2 will constitute the Periodic Determination for the June 30, 2011 Scheduled Determination Date and shall not be construed or deed to be a Special Determination for purposes of Section 4.3 of the Credit Agreement.

Reaffirmation of Borrowing Base. Subject to the satisfaction of the conditions of effectiveness set forth in Section 3 of this Amendment and effective as of the Sixth Amendment Execution Date, the Borrowing Base is hereby reaffirmed at $23,000,000. The foregoing redetermination of the Borrowing Base is a periodic redetermination of the Borrowing Base under Section 2.10(b) of the Credit Agreement. The Borrowing Base as so redetermined shall remain in effect until the next periodic redetermination of the Borrowing Base under Section 2.10(b) of the Credit Agreement, unless otherwise adjusted pursuant to the other provisions of Section 2.10 of the Credit Agreement.

Reaffirmation of Borrowing Base. The Borrowing Base is hereby reaffirmed at $700,000,000. This redetermination of the Borrowing Base constitutes the scheduled periodic redetermination of the Borrowing Base with respect to the Reserve Report dated October 1, 2016 (the “October 2016 Reserve Report”), pursuant to Section 4.02(a) of the Credit Agreement, and is not a special redetermination pursuant to Section 4.03 of the Credit Agreement. The Borrowing Base shall remain at this amount until next redetermined in accordance with Article IV of the Credit Agreement.

Reaffirmation of Borrowing Base. If this Amendment has otherwise become effective in accordance with Section 5 below and the Administrative Agent has received executed counterpart signature pages to this Amendment from Lenders comprising at least the Required Lenders, then pursuant to, and in accordance with, Section 2.4(f) of the Credit Agreement, the Administrative Agent and the Required Lenders shall (and do hereby) acknowledge and agree that upon the issuance of the Senior Notes, the $1,400,000,000 Borrowing Base as in effect immediately prior to such issuance shall remain in effect without any reduction thereto, so long as such issuance shall occur on or prior to June 30, 2020.

Reaffirmation of Borrowing Base. The Borrowing Base as of the Fourteenth Amendment Effective Date shall be reaffirmed at $1,400,000,000. This reaffirmation shall constitute the periodic determination scheduled to occur as of April 1, 2019 under Section 4.02 of the Credit Agreement, and the Borrowing Base as reaffirmed shall remain in effect until next redetermined pursuant to the terms of the Credit Agreement.

Reaffirmation of Borrowing Base. In reliance on the representations, warranties, covenants and agreements contained in this Third Amendment, and subject to the satisfaction (or waiver in accordance with Section 12.02 of the Credit Agreement) of the conditions precedent set forth in Section 5 hereof, the Administrative Agent and the Lenders party hereto agree that the Borrowing Base is hereby reaffirmed at $245,000,000, and the Borrowing Base shall remain at $245,000,000 until the next Scheduled Redetermination, Interim Redetermination or other adjustment of the Borrowing Base thereafter, whichever occurs first pursuant to the terms of the Credit Agreement. The Borrower and the Lenders acknowledge that the redetermination of the Borrowing Base provided for in this Section 3 shall constitute the Scheduled Redetermination of the Borrowing Base scheduled to occur on or about October 1, 2024 for purposes of Section 2.07(b) of the Credit Agreement. This Third Amendment constitutes a New Borrowing Base Notice delivered pursuant to Section 2.07(d) of the Credit Agreement with respect to the Borrowing Base reaffirmation provided for in this Section 3.

Reaffirmation of Borrowing Base. Subject to the satisfaction of the conditions of effectiveness set forth in Section 3 of this Amendment and effective as of the Eighth Amendment Execution Date, the Borrowing Base is hereby reaffirmed at $14,000,000. The foregoing redetermination of the Borrowing Base is deemed a periodic redetermination of the Borrowing Base under Section 2.10(b) of the Credit Agreement as of April 1, 2022. The Borrowing Base as so redetermined shall remain in effect until the next periodic redetermination of the Borrowing Base under Section 2.10(b) of the Credit Agreement, unless otherwise adjusted pursuant to the Credit Agreement. Borrower, Administrative Agent and each of the undersigned Lenders hereby waive the occurrence of the periodic redeterminations of the Borrowing Base to have occurred as of April 1, 2021, and October 1, 2021. ​

Reaffirmation of Borrowing Base. In accordance with Section 2.2 of the Credit Agreement, the Borrowing Base is hereby reaffirmed at $500,000,000 effective as of the Amendment Effective Date, and such Borrowing Base shall remain in effect at that level until the Borrowing Base is next redetermined or adjusted pursuant to the terms of the Credit Agreement. For the avoidance of doubt, the Borrowing Base redetermination set forth in this Section 2 shall constitute the Borrowing Base redetermination scheduled to occur on or about May 1st pursuant to Section 2.2(b)(i) of the Credit Agreement. The parties hereto agree that this Section 2 shall constitute written notice of the Borrowing Base as required by Section 2.2(b)(i) of the Credit Agreement.