Common use of Borrowing Base Reporting Clause in Contracts

Borrowing Base Reporting. As soon as available, but in any event no later than twenty (20) days after the end of each fiscal month, calculated in respect of the immediately preceding month, in each case, unless otherwise waived in writing by the Revolving Agent: (i) an executed Borrowing Base Certificate; (ii) a detailed aging of each Loan Party’s Accounts (each, based on and describing the respective invoice and due dates or terms of such invoice and delivered electronically in an acceptable format, if such Loan Party has implemented electronic reporting), along with a detailed calculation of those Accounts that are not Eligible Accounts; (iii) a summary aging (including the invoice or due date and, upon the Revolving Agent’s request, with a detailed aging and aged by invoice or due date as so requested), by vendor, of each Loan Party’s accounts payable and any book overdraft (delivered electronically in an acceptable format, if such Loan Party has implemented electronic reporting) and a detailed aging, by vendor, of any held checks; and (iv) a reconciliation of reported balances in the foregoing clauses (ii) and (iv) above to each Loan Party’s applicable general ledger account, and to its quarterly financial statements including any book reserves related to each category.