Common use of Borrowing Base Determination Clause in Contracts

Borrowing Base Determination. (a) The Borrower shall conduct, or shall cause to be conducted, at its expense, and upon request of the Agent, and shall present to the Agent for approval, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of confirming the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested. The Borrower shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing Base including, without limitation, correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligors. (b) The Borrower shall promptly notify the Agent and the Lenders in writing in the event that at any time the Borrower receives or otherwise gains knowledge that (i) the Borrowing Base is less than 90% of the Borrowing Base reflected in the most recent Borrowing Base Certificate delivered pursuant to Section 6.10(e) or that (ii) the outstanding Loans and the Letter of Credit Obligations exceed the Borrowing Base as a result of a decrease therein, and the amount of such excess. (c) The Agent may make physical verifications of the Inventory in any manner and through any medium that the Agent considers advisable, and the Borrower shall furnish all such assistance and information as the Agent may require in connection therewith.