Common use of Collateral Appraisal Clause in Contracts

Collateral Appraisal. Upon Lender’s request, Borrower shall, at the Borrower’s expense, provide to Lender an appraisal of the Collateral, including an Accounts and Inventory audit, by a third-party appraiser acceptable to the Lender in its sole discretion, provided, that so long as no Default or Event of Default has occurred and is continuing, Lender shall not request such appraisal of Collateral more than once per calendar year.

Collateral Appraisal. Upon Lender’s request, Borrower shall, at the Borrower’s expense, provide to Lender an appraisal of the Collateral, including an Accounts and Inventory auditAudit, by a third-party appraiser acceptable to the Lender in its sole discretion, provided, that so long as no Default or Event of Default has occurred and is continuing, Lender shall not request such appraisal of Collateral more than once per calendar year.