Common use of Reaffirmation of Borrowing Base Clause in Contracts

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.