Common use of Asset Audit Clause in Contracts

Asset Audit. Borrower shall permit representatives of Lender at the expense of Borrower to inspect and conduct an audit of all of Borrower’s assets and properties (both real and personal, including Mortgage Loans, Loan Participations, Accounts and Inventory); provided, however, if such audit is conducted by Lender more than once during any fiscal year, and such additional audit is not the result of the occurrence and continuation of an Event of Default, Lender shall be responsible for the fee payable to the Person that performed such additional audit.

Asset Audit. Borrower shall permit representatives of Lender Bank at the expense of Borrower to inspect and conduct an audit of all of Borrower’s assets and properties (both real and personal, including Mortgage Loans, Loan Participations, Accounts and Inventory); provided, however, if such audit is conducted by Lender Bank more than once during any fiscal year, and such additional audit is not the result of the occurrence and continuation of an Event of Default, Lender Bank shall be responsible for the fee payable to the Person that performed such additional audit.

Asset Audit. Borrower shall permit representatives of Lender Bank at the expense of Borrower to inspect and conduct an audit of all of Borrower’s 's assets and properties (both real and personal, including Mortgage Loans, Loan Participations, Accounts and Inventory); provided, however, if such audit is conducted by Lender Bank more than once during any fiscal year, and such additional audit is not the result of the occurrence and continuation of an Event of Default, Lender Bank shall be responsible for the fee payable to the Person that performed such additional audit.