Initial Borrowing Base. For the period from and including the Effective Date to but excluding the first Redetermination Date to occur thereafter, the Borrowing Base shall be $3,200,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to adjustment from time to time prior to the first Redetermination Date pursuant to the Borrowing Base Adjustment Provisions.

Initial Borrowing Base. For the period from and including the Closing Date to but excluding the first date on which a redetermined or adjusted Borrowing Base becomes effective pursuant to [Section 2.4(d)], the amount of the Borrowing Base shall be $25,000,000. The Borrowing Base is subject to periodic redeterminations, mandatory reductions and further adjustments from time to time pursuant to this Agreement.

On the Amendment No. 1 Effective Date (as defined below), the Borrowing Base shall be redetermined (the “Initial Redetermination”). Upon the Amendment No. 1 Effective Date, the Borrowing Base shall be decreased to $3,100,000,000 pursuant to the Initial Redetermination, and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Banks, and ​ on the Amendment No. 1 Effective Date, and shall remain the Borrowing Base until the earlier to occur of the next Scheduled Redetermination Date, the next Interim Redetermination Date or the next adjustment to the Borrowing Base under the Borrowing Base Adjustment Provisions, whichever occurs first. For the avoidance of doubt, the Initial Redetermination shall be deemed to be the Scheduled Redetermination which would have otherwise occurred on October 1, 2018.

SECTION # Borrowing Base. Effective on the Amendment Effective Date, the Borrowing Base is increased to $60,000,000 until the next redetermination or adjustment thereof pursuant to the Credit Agreement. The Borrowing Base redetermination provided for by this Amendment is the Scheduled Redetermination for February 1, 2018. This Amendment shall serve as a New Borrowing Base Notice under the Credit Agreement.

Section # Scheduled Redetermination of the Borrowing Base. Effective as of the First Amendment Effective Date, the Borrowing Base shall be $385,000,000, subject to future Redeterminations as provided in the Credit Agreement. The Borrower and the Lenders agree that this Redetermination shall constitute the Scheduled Redetermination scheduled to occur on October 1, 2016.