Common use of Borrowing Base Reporting Clause in Contracts

Borrowing Base Reporting. Deliver to the Administrative Agent, who shall deliver to each Lender, a Borrowing Base Certificate, promptly on demand by the Administrative Agent (at the direction of the Majority Lenders) and in any event, not less frequently than the tenth (10th) Business Day (save and except in respect of (ii) below) of each calendar month with respect to the preceding calendar month, together with (i) detailed inventory and accounts receivable reports, including an item level listing of all inventory balances that indicates whether items are purchased or made and quantity and cost for both the current and prior month together with a calculation of changes in cost, and also indicating Net Realizable Value of Eligible Inventory, as well as an inventory aging report and an accounts receivable aging report, (ii) not less frequently than the twenty-fifth (25th) day of each calendar month with respect to the preceding calendar month, the management reporting package for the calendar month including an operational update and a comparison of the month and Financial Quarter to date against the Borrower’s projections for such period, and (iii) any other reports, documentation or information requested by the Administrative Agent at the direction of the Majority Lenders;