Common use of Books, Records and Inspections Clause in Contracts

Books, Records and Inspections. The Parent will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiaries, any of the properties of the Parent or its Subsidiaries, and to examine the books of account of the Parent or such Subsidiaries and discuss the affairs, finances and accounts of the Parent or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders may request; provided that, unless an Event of Default exists and is continuing at such time, the Administrative Agent and the Lenders shall not be entitled to request more than two such visitations and/or examinations in any fiscal year of the Parent.

Appears in 9 contracts

Sources: Credit Agreement (Gener8 Maritime, Inc.), Credit Agreement (Gener8 Maritime, Inc.), Credit Agreement (Gener8 Maritime, Inc.)

Books, Records and Inspections. The Parent Borrower will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP generally accepted accounting principles and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent Borrower will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent Borrower or any of its Subsidiaries, any of the properties of the Parent Borrower or its Subsidiaries, and to examine the books of account of the Parent Borrower or such Subsidiaries and discuss the affairs, finances and accounts of the Parent Borrower or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, and independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders may request; provided that, unless an Event of Default exists and is continuing at such time, the Administrative Agent and the Lenders shall not be entitled to request more than two such visitations and/or examinations in any fiscal year of the ParentBorrower.

Appears in 9 contracts

Sources: Credit Agreement (Baltic Trading LTD), Credit Agreement (Baltic Trading LTD), Credit Agreement (General Maritime Corp/)

Books, Records and Inspections. The Parent will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Facility Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiaries, any of the properties of the Parent or its Subsidiaries, and to examine the books of account of the Parent or such Subsidiaries and discuss the affairs, finances and accounts of the Parent or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Facility Agent or the Required Lenders may request; provided that, unless an Event of Default exists and is continuing at such time, the Administrative Facility Agent and the Lenders shall not be entitled to request more than two such visitations and/or examinations in any fiscal year of the Parent.

Appears in 3 contracts

Sources: Credit Agreement, Credit Agreement (Gener8 Maritime, Inc.), Credit Agreement (Gener8 Maritime, Inc.)

Books, Records and Inspections. The Parent Borrower will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent Borrower will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent Borrower or any of its Subsidiaries, any of the properties of the Parent Borrower or its Subsidiaries, and to examine the books of account of the Parent Borrower or such Subsidiaries and discuss the affairs, finances and accounts of the Parent Borrower or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, and independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders such Lender may request; provided that, unless an so long as no Event of Default exists has occurred and is continuing at continuing, such timevisits, the Administrative Agent inspections and the Lenders examination shall not be entitled to request occur no more than two such visitations and/or examinations in any fiscal year of the Parent.frequently that once per calendar year

Appears in 3 contracts

Sources: Credit Agreement (Trico Marine Services Inc), Credit Agreement (Trico Marine Services Inc), Credit Agreement (Trico Marine Services Inc)

Books, Records and Inspections. (a) The Parent will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiaries, any of the properties of the Parent or its Subsidiaries, and to examine the books of account of the Parent or such Subsidiaries and discuss the affairs, finances and accounts of the Parent or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, and independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders such Lender may request; provided that, unless an Event of Default exists and is continuing at such time, . (b) At a date to be mutually agreed upon between the Administrative Agent and the Parent occurring on or prior to the 120th day after the close of each fiscal year of the Parent, the Parent will, at the request of the Administrative Agent, hold a meeting with all of the Lenders shall not at which meeting will be entitled to request more than two such visitations and/or examinations in any reviewed the financial results of the Parent and its Subsidiaries for the previous fiscal year and the budgets presented for the current fiscal year of the Parent.

Appears in 3 contracts

Sources: Credit Agreement (Trico Marine Services Inc), Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc)

Books, Records and Inspections. The Parent will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP generally accepted accounting principles and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiaries, any of the properties of the Parent or its Subsidiaries, and to examine the books of account of the Parent or such Subsidiaries and discuss the affairs, finances and accounts of the Parent or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, and independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders may request; provided that, unless an Event of Default exists and is continuing at such time, the Administrative Agent and the Lenders shall not be entitled to request more than two such visitations and/or examinations in any fiscal year of the Parent.

Appears in 2 contracts

Sources: Credit Agreement (General Maritime Corp / MI), Credit Agreement (General Maritime Corp / MI)

Books, Records and Inspections. The Parent will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with GAAP generally accepted accounting principles and all requirements of law, shall be made of all dealings and transactions in relation to its business. The Parent will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent and the Lenders as a group to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiaries, any of the properties of the Parent or its Subsidiaries, and to examine the books of account of the Parent or such Subsidiaries and discuss the affairs, finances and accounts of the Parent or such Subsidiaries with, and be advised as to the same by, its and their officers and, in the presence of the Parent, independent accountants, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders may request; provided that, unless an Event of Default exists and is continuing at such time, the Administrative Agent and the Lenders shall not be entitled to request more than two such visitations and/or examinations in any fiscal year of the Parent.

Appears in 2 contracts

Sources: Credit Agreement (Oaktree Capital Management Lp), Credit Agreement (General Maritime Corp / MI)

Books, Records and Inspections. The Parent willshall, and will shall ------------------------------ cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries, in conformity in all material respects with U.S. GAAP and all requirements of law, shall be made of all dealings and transactions in relation to its businessbusiness and activities. The Parent willshall, and will shall cause each of its Subsidiaries to, permit officers and designated representatives of any of the Administrative Agent and Agents, Issuing Bank or any of the Lenders as a group Banks to visit and inspect, during regular business hours and under guidance of officers of the Parent or any of its Subsidiariessuch Subsidiary, any of the properties of the Parent or its Subsidiariessuch Subsidiary, and to examine the books of record and account of the Parent or such Subsidiaries Subsidiary and to discuss the affairs, finances and accounts of the Parent or of such Subsidiaries Subsidiary with, and be advised as to the same by, its and their officers and, in the presence of the Parent, independent accountantsofficers, all upon reasonable advance notice and at such reasonable times and intervals and to such reasonable extent as such Agent, the Administrative Agent Issuing Bank or the Required Lenders such Bank may request; provided that, unless an Event of Default exists . The Credit Parties shall permit up to four (4) field audits or other inspections and is continuing at such time, visits per calendar year by the Administrative Agent and the Lenders Banks with respect to the Credit Parties' respective books and records. The Borrower shall not be entitled to request more than two responsible for the costs and expenses associated with all such visitations and/or examinations in any fiscal year of the Parentfield audits and inspections.

Appears in 1 contract

Sources: Credit Agreement (Scovill Holdings Inc)