Common use of Borrowing Base Reports Clause in Contracts

Borrowing Base Reports. (a) By the 20th day of each calendar month, the Company shall deliver to the Administrative Agent (and the Administrative Agent shall promptly deliver same to Lenders) a Borrowing Base Report as of the close of business on the last day of the previous calendar month; provided that, notwithstanding the foregoing, during any Liquidity Period, the Company shall deliver such Borrowing Base Reports prepared as of the close of business each previous Friday, not later than the third Business Day of the following week; provided, further, that such more frequent Borrowing Base Reports provided for in the previous proviso shall be limited to the amount of the gross Accounts, less the amount of ineligible Accounts reported for the most recently ended calendar month.