Borrowing Base Audits Appraisal Reports Sample Clauses

Borrowing Base Audits Appraisal Reports. (a) During any period of time in which Borrower is required to deliver a Borrowing Base Certificate to the Administrative Agent pursuant to Section 5.2(d), the Borrower shall, and shall cause each of the other Credit Parties to, permit the Administrative Agent, at the Borrower’s sole cost and expense, to perform collateral audits and field exams of the Properties of the Borrower and the other Credit Parties and provide the Administrative Agent with such assistance and information reasonably necessary to conduct such audits and exams; provided that unless an Event of Default has occurred and is continuing, the Administrative Agent shall be limited to two audits during each calendar year plus any additional audits requested by the Borrower.
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Borrowing Base Audits Appraisal Reports. Each Credit Party shall, and shall cause each of its Subsidiaries to, permit the Administrative Agent to perform collateral audits and field exams of the Properties of the Parent and Subsidiaries and to provide the Administrative Agent with such assistance and information so that (a) a collateral audit dated as of July 31st of each year may be completed on or prior to the immediately following September 30th of each year, and (b) a collateral audit dated as of January 31st of each year may be completed on or prior to the immediately following March 31st of each year. If no Default has occurred and is continuing, only such two audits per year and any other audits performed at the request of the Borrower shall be performed at the Borrower's sole cost and expense and the costs of each such appraisal reports shall be paid by the Borrower. If a Default has occurred and is continuing, the Administrative Agent may perform such additional audits, appraisal reports and field exams, and all such audits, reports and field exams shall be performed at the Credit Parties' sole cost and expense.
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Borrowing Base Audits Appraisal Reports 
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Related to Borrowing Base Audits Appraisal Reports

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Updated Appraisals For so long as the Loan remains outstanding, if any Event of Default shall occur hereunder, or if, in Lender’s judgment, a material depreciation in the value of the Land and/or the Improvements shall have occurred, then in any such event, Lender, may cause the Land and Improvements to be appraised by an appraiser selected by Lender, and in accordance with Lender’s appraisal guidelines and procedures then in effect, and Borrower agrees to cooperate in all respects with such appraisals and furnish to the appraisers all requested information regarding the Land and Improvements and the Facility. Borrower agrees to pay all reasonable costs incurred by Lender in connection with such appraisal which costs shall be secured by the Mortgage and shall accrue interest at the Default Rate until paid.

  • Collateral Audit The Administrative Agent shall have completed an initial collateral audit on or prior to the Closing Date.

  • Collateral Audits Permit the Bank or its agents to perform audits of the Collateral. The Borrower shall compensate the Bank for such audits in accordance with the Bank's schedule of fees as amended from time to time.

  • Inspections; Appraisals (a) Permit Agent from time to time, subject (except when a Default or Event of Default exists) to reasonable notice and normal business hours, to visit and inspect the Properties of any Borrower or Subsidiary, inspect, audit and make extracts from any Borrower’s or Subsidiary’s books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Borrower’s or Subsidiary’s business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to any Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with any Borrower. Borrowers acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Borrowers shall not be entitled to rely upon them.

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Collateral Reports Borrower shall deliver or cause to be delivered the following:

  • Financial Examination and Appraisal Fees Bank's customary fees and out-of-pocket expenses for Bank's audits of Borrower's Accounts, and for each appraisal of Collateral and financial analysis and examination of Borrower performed from time to time by Bank or its agents;

  • Annual Statement of Compliance The Officer’s Certificate required to be delivered by the Issuing Entity, pursuant to Section 3.9 of the Indenture or the Officer’s Certificate required to be delivered by the Servicer pursuant to Section 4.01(a) of the Servicing Agreement, as applicable.

  • Field Examination The Administrative Agent or its designee shall have conducted a field examination of the Loan Parties’ Accounts, Inventory and related working capital matters and of the Borrower’s related data processing and other systems, the results of which shall be satisfactory to the Administrative Agent in its sole discretion.

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