Borrowing Base Reduction Amount

Example Definitions of "Borrowing Base Reduction Amount"
Borrowing Base Reduction Amount. (a) for each month commencing November 1, 2004 until the next semi-annual Borrowing Base redetermination pursuant to Section 2.2.2, $1,500,000, and (b) for each month thereafter, such amount as designated by 100% of the Lenders from time to time in connection with each successive scheduled semi-annual Borrowing Base redetermination pursuant to Section 2.2.2 or successive unscheduled Borrowing Base redetermination pursuant to Section 2.2.3.; provided however, if the Required Lenders fail to... timely designate a new Borrowing Base Reduction Amount, then the Borrowing Base Reduction Amount most recently in effect will continue in effect until the Required Lenders designate a new Borrowing Base Reduction Amount. View More Arrow
Found in PETROQUEST ENERGY INC contract
Borrowing Base Reduction Amount. Means (a) $1,500,000 for each of December 1, 2004 and January 1, 2005; (b) for each month commencing November February 1, 2004 2005 until the next semi-annual Borrowing Base redetermination pursuant to Section 2.2.2, $1,500,000, $2,000,000, and (b) (c) for each month thereafter, such amount as designated by 100% of the Required Lenders in a notice to Borrower from time to time in connection with each successive scheduled semi-annual Borrowing Base redetermination pursuant to Section 2.2.2 or... successive unscheduled Borrowing Base redetermination pursuant to Section 2.2.3.; provided however, if the Required Lenders fail to timely designate a new Borrowing Base Reduction Amount, then the Borrowing Base Reduction Amount most recently in effect will continue in effect until the Required Lenders designate a new Borrowing Base Reduction Amount. View More Arrow
Found in PETROQUEST ENERGY INC contract
Borrowing Base Reduction Amount. Means (a) $1,500,000 for each of December 1, 2004 and January 1, 2005; (b) for each month commencing November February 1, 2004 2005 until the next semi-annual Borrowing Base redetermination pursuant to Section 2.2.2, $1,500,000, $2,000,000, and (b) (c) for each month thereafter, such amount as designated by 100% of the Lenders in a notice to Borrower from time to time in connection with each successive scheduled semi-annual Borrowing Base redetermination pursuant to Section 2.2.2 or successive... unscheduled Borrowing Base redetermination pursuant to Section 2.2.3.; provided however, if 100% of the Required Lenders fail to timely designate a new Borrowing Base Reduction Amount, then the Borrowing Base Reduction Amount most recently in effect will continue in effect until 100% of the Required Lenders designate a new Borrowing Base Reduction Amount. View More Arrow
Found in PETROQUEST ENERGY INC contract
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