Borrowing Base Verification Sample Clauses

Borrowing Base Verification. Any of the Administrative Agent’s and Collateral Agent’s officers, employees or agents shall have the right, at any time or times, in the name of the Administrative Agent or Collateral Agent, as applicable, any designee of the Administrative Agent, Collateral Agent or Borrowers, to verify the validity, amount or any other matter relating to Accounts by mail, telephone, electronic communication, personal inspection or otherwise and to conduct field audits and appraisals of the financial affairs and Collateral of the Loan Parties. Borrowers shall cooperate fully with the Administrative Agent and Collateral Agent and their respective agents in an effort to facilitate and promptly conclude all such verifications and field audits and appraisals, all of which shall be at the expense of Borrowers. Until such time as BearingPoint shall have made the Satisfactory Public Filings and Borrowers shall have Satisfactory Collateral Systems, field examiners chosen by the Administrative Agent and Collateral Agent shall be present at Borrowers’ places of business to conduct such verifications and field audits and appraisals as frequently as the Administrative Agent and Collateral Agent shall determine, including, by way of example, as frequently as each business day of Borrower. After BearingPoint shall have made the Satisfactory Public Filings and Borrowers shall have Satisfactory Collateral Systems, no more than 3 field audits and appraisals shall be conducted in any year at Borrowers’ expense; provided, that, following the occurrence and during the continuation of an Event of Default, field audits and appraisals may be conducted more frequently at Borrowers’ expense at Administrative Agent’s and Collateral Agent’s reasonable request.

Borrowing Base Verification. Any of Administrative Agent’s officers, employees or agents shall have the right, not more than two (2) times in any calendar year during normal business hours (or at any time during normal business hours when an Event of Default shall have occurred and be continuing), in the name of Administrative Agent, any designee of Administrative Agent or any Borrower, to verify the validity, amount or any other matter relating to Receivables, or Petroleum Inventory by mail, telephone, electronic communication, personal inspection or otherwise. The Company shall take reasonable steps necessary to cooperate with Administrative Agent in an effort to facilitate and promptly conclude any such verification process. For the avoidance of doubt, any rights granted under this Section 8.12 to any of Administrative Agent’s officers, employees or agents, shall be in addition to, and in supplement of, any rights granted pursuant to Section 8.7. HollyFrontier Credit Agreement - Page 100

Borrowing Base Verification. Permit any of the First Lien Administrative Agent's officers, employees or agents, at any time or times, in the name of the First Lien Administrative Agent, any designee of the First Lien Administrative Agent or the Borrower, to verify the validity, amount or any other matter relating to Accounts by mail, telephone, electronic communication, personal inspection or otherwise. The Borrower shall cooperate fully with the First Lien Administrative Agent in an effort to facilitate and promptly conclude any such verification process.

Borrowing Base Verification. Any of the Administrative Agent’s officers, employees or agents shall have the right, at any time or times, upon reasonable prior notice and during normal business hours, in the name of the Administrative Agent, any designee of the Administrative Agent or the Borrower, to verify the validity, amount or any other matter relating to Accounts or Inventory by mail, telephone, electronic communication, personal inspection or otherwise (provided that no Account Debtor may be contacted unless an Event of Default shall have occurred and be continuing) and to conduct field audits of the financial affairs and Collateral of the Credit Parties. The Borrower shall cooperate fully with the Administrative Agent in an effort to facilitate and promptly conclude any such verification process. The Credit Parties shall cooperate fully with the Administrative Agent and its agents during all Collateral field audits, which shall be at the expense of the Borrower and may be conducted semi-annually or, following the occurrence and during the continuation of an Event of Default, more frequently at the Administrative Agent’s reasonable request.

Borrowing Base Verification. Any of the Administrative Agent's officers, employees or agents (which shall include any Agent-Related Person) shall have the right, not more than two times in any calendar year during normal business hours (or at any time during normal business hours when a Default or Event of Default shall have occurred and be continuing), in the name of the Administrative Agent, any designee of the Administrative Agent or the Borrower, to verify the validity, amount or any other matter relating to Receivables, Eligible Inventory or Eligible Product in Transit by mail, telephone, electronic communication, personal inspection or otherwise. The Borrower shall take reasonable steps necessary to cooperate with the Administrative Agent in an effort to facilitate and promptly conclude any such verification process. Notwithstanding the foregoing, none of the Administrative Agent's officers, employees or agents (which shall include any Agent-Related Person) shall have the right to contact any third parties without the prior consent of the Borrower (which consent may be granted or withheld in the Borrower's sole discretion); provided that no such consent shall be required following the occurrence and during the continuance of an Event of Default.