Collateral Audits. Permit the Bank or its agents to perform audits of the Collateral. The Borrower shall compensate the Bank for such audits in accordance with the Bank's schedule of fees as amended from time to time.
Collateral Audits. Permit Bank to audit all Borrower’s collateral required hereunder, with such audits to be performed from time to time at Bank’s option by collateral examiners acceptable to Bank and in scope and content satisfactory to Bank, and with all Bank’s costs and expenses of each audit to be reimbursed in full by Borrower. Bank shall not be required to share the results of the audit(s) with Borrower or any third party.
Collateral Audits. Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at Borrower’s expense, provided that such audits will be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing.
Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, but not in excess of one time each calendar year. In the event the Borrower is in default, collateral audits may be performed more frequently than once per calendar year. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
Collateral Audits. At the request of Agent in its sole discretion, but no less frequently than twice in each fiscal year, Loan Parties shall permit Agent or one or more designees of Agent to perform, at Loan Parties’ expense, such appraisals of Inventory or other Collateral, field examinations, collateral analysis, monitoring, including, without limitation, testing of Inventory orders against undrawn Documentary Letters of Credit to confirm Loan Parties’ compliance with the covenant set forth in Section 6.8(c), or other business analysis, as required by Agent and shall provide Agent with access to all facilities and all book and records of Loan Parties reasonably required by Agent to conduct such audits.
Collateral Audits. Borrower will, and will cause each Collateral Subsidiary to, permit Agent by or through any of Agent’s representatives, third party inspectors, independent contractors, attorneys or accountants, at such intervals as may be required by Agent in its sole discretion, to conduct audits of and to verify, the Collateral. Collateral audits shall, prior to the occurrence of an Event of Default be at Agent’s expense, and thereafter shall be at Borrower’s expense.
Collateral Audits. (complete if applicable) Permit the Bank or its agents to perform audits of the Collateral. The Borrower shall compensate the Bank for such audits in (monthly, annual, etc.) accordance with the Bank's schedule of fees as may be amended from time to time. Whether or not this section has been completed, the Bank shall retain the right to inspect the Collateral and business records related to it at such times and at such intervals as the Bank may reasonably require.
Collateral Audits. (complete if applicable) Permit the Bank or its agents to perform ____________________________________________________________ (monthly, annual, etc.)
Collateral Audits. Each Borrower will, and the Company will cause each Subsidiary to, permit Agent by or through any of Agent’s representatives, third party inspectors, independent contractors, attorneys or accountants, at such intervals as may be required by Agent in its sole discretion, to conduct audits of and to verify, the Collateral. Audit reports for any month shall be provided by Agent to the Lenders in the following month. The New Vehicle Floorplan Borrowers shall pay to Agent, for Agent’s sole account, such fees as are agreed to between them for collateral audits relating to New Vehicles owned by the New Vehicle Floorplan Dealerships; provided, that, (a) prior to the occurrence of an Event of Default, (i) the New Vehicle Floorplan Borrowers shall not be required to pay such fee for more than three New Vehicle collateral audits in any period of twelve consecutive months, if the Leverage Ratio is equal to or less than 2.50 to 1.0 as of the end of each fiscal quarter during such time period, and (ii) the New Vehicle Floorplan Borrowers shall not be required to pay such fee for more than four New Vehicle collateral audits in any period of twelve consecutive months, if the Leverage Ratio is greater than 2.50 to 1.0 as of the end of any fiscal quarter during such time period; and (b) following the occurrence of an Event of Default, the New Vehicle Floorplan Borrowers shall pay the costs of all New Vehicle collateral audits required by Agent. The Company shall pay the cost of all collateral audits other than collateral audits relating to New Vehicles.
Collateral Audits. When requested by the Agent, (i) so long as no Event of Default shall have occurred and be continuing, not more than once in any fiscal year of the Consolidated Entity and (ii) following the occurrence and during the continuance of an Event of Default, at any time, a report of Inventory of each Borrower, prepared on a test or cycle basis, which shall describe each Borrower's Inventory by category and by item (in reasonable detail) and report the then appraised value (at lower of cost or market) of such Inventory.
