Common use of Borrowing Base Verification Clause in Contracts

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 an 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. For the avoidance of doubt, any rights granted under this Section 6.14 to any of the Administrative Agent’s officers, employees or agents (which shall include any Agent-Related Person), shall be in addition to, and in supplement of, any rights granted pursuant to Section 6.10.