Reaffirmation of the Borrowing Base Sample Clauses

The Reaffirmation of the Borrowing Base clause requires the borrower to periodically confirm or update the value of the assets that secure a loan, known as the borrowing base. Typically, this involves the borrower providing updated financial statements or asset schedules—such as accounts receivable or inventory reports—to the lender at specified intervals or upon request. This process ensures that the lender has an accurate and current assessment of the collateral supporting the loan, thereby managing credit risk and maintaining the integrity of the lending arrangement.
Reaffirmation of the Borrowing Base. Notwithstanding the requirements of Section 2.07 of the Credit Agreement, effective as of the Amendment Effective Date, the amount of the Borrowing Base shall continue to be $550,000,000.00, subject to further adjustments from time to time pursuant to Section 2.07, Section 8.13(c) or Section 9.12(d) of the Credit Agreement. The reaffirmation of the Borrowing Base pursuant to this Section 3.01 of this Amendment shall constitute the Scheduled Redetermination for April 1, 2015.
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Reaffirmation of the Borrowing Base. (a) The Borrowing Base shall be reaffirmed at $479,000,000 from and after the Effective Date until the Borrowing Base shall be otherwise redetermined in accordance with the Credit Agreement (as amended hereby); and for the avoidance of doubt, the Lenders, the Administrative Agent and the Borrower acknowledge and agree that the reaffirmed Borrowing Base has been determined based upon a Reserve Report that excludes the ▇▇▇▇▇ Properties. (b) Both the Borrower, on the one hand, and the Administrative Agent and the Lenders, on the other hand, agree that the redetermination of the Borrowing Base pursuant to clause (a) of this Section 3 constitutes the regularly scheduled Borrowing Base redetermination for Fall 2008 (and shall not constitute a special redetermination of the Borrowing Base pursuant to Section 2.21(v) of the Credit Agreement (as amended hereby)).
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Reaffirmation of the Borrowing Base. Subject to the terms of this Agreement, the Lenders and the Borrower hereby confirm that as of the Effective Date, the Borrowing Base is reconfirmed to be $60,000,000 and such Borrowing Base shall remain in effect at that level until the Borrowing Base is redetermined in accordance with the Credit Agreement. The parties hereto acknowledge that this redeterination of the Borrowing Base is the semi-annual redetermination provided for in Section 2.02(b)(ii) of the Credit Agreement.
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Reaffirmation of the Borrowing Base. Subject to the terms of this Agreement, as of the Amendment Effective Date, the Borrowing Base shall be reaffirmed at $375,000,000 and such Borrowing Base shall remain in effect at that level until the effective date of the next Borrowing Base redetermination made in accordance with the terms of the Credit Agreement. The parties hereto acknowledge and agree that the Borrowing Base redetermination set forth in this Section 3 is the semi-annual redetermination of the Borrowing Base scheduled to occur on or about October 1, 2020 as provided in Section 2.02(b)(ii) of the Existing Credit Agreement, as amended by this Agreement. Each Lender’s Pro Rata Share of the resulting Borrowing Base, after giving effect to the reaffirmation of the Borrowing Base set forth in this Section 3 and each Lender’s Maximum Credit Amount, after giving effect to this Agreement, are as set forth in Schedule II to the Existing Credit Agreement, as amended by this Agreement.
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Reaffirmation of the Borrowing Base. The Borrower and the Lenders party hereto agree that on and as of the Amendment Effective Date (defined below) the Borrowing Base shall be reaffirmed at $1,000,000,000 until such time as the Borrowing Base is redetermined or otherwise adjusted pursuant to the terms of the Credit Agreement. Both Holdings and the Borrower, on the one hand, and the Administrative Agent and the Lenders party hereto, on the other hand, agree that the reaffirmation of the Borrowing Base pursuant to this Section 2 shall constitute the regularly Scheduled Redetermination of the Borrowing Base for the fall of 2022 (and not an interim redetermination of the Borrowing Base) pursuant to Section 2.07 of the Credit Agreement.
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Reaffirmation of the Borrowing Base 
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Related to Reaffirmation of the Borrowing Base

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Execution of Loan Documents; Borrowing Base Certificate The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents, including, without limitation, the Borrowing Base Certificates and the Compliance Certificates. Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.

  • Ratification of Credit Agreement Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document.

  • Borrowing Base Agent shall have received evidence from Borrowers that the aggregate amount of Eligible Receivables and Eligible Inventory is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;