Common use of Collateral Valuation Clause in Contracts

Collateral Valuation. Collateral Agent shall monitor the market value of the Collateral. On each Borrowing Date, promptly after receiving notice from the Company of a proposed borrowing, on each subsequent day on which there is an outstanding Advance, and on the last day of each calendar month (or, if such day is not a Business Day, the next succeeding Business Day), commencing with the first such date to occur after the date hereof, Collateral Agent shall determine the aggregate market value of all Collateral on and as of such date in accordance with its usual and customary practices and shall advise and notify (which may be by telephone) the Company, Administrative Agent and each Bank thereof (each a “Collateral Notice”). Collateral Agent agrees to deliver promptly to the Company, Administrative Agent and each Bank a written confirmation of any telephonic Collateral Notice which is given on a Borrowing Date.

Collateral Valuation. The Collateral Agent shall monitor the market value of the Collateral. On each Borrowing Date, promptly after receiving notice from the Company of a proposed borrowing, on each subsequent day on which there is an outstanding Advance, and on the last day of each calendar month (or, if such day is not a Business Day, the next succeeding Business Day), commencing with the first such date to occur after the date hereof, the Collateral Agent shall determine the aggregate market value of all Collateral on and as of such date in accordance with its usual and customary practices and shall advise and notify (which may be by telephone) the Company, Administrative Agent Company and each Bank thereof (each a a, “Collateral Notice”). The Collateral Agent agrees to deliver promptly to the Company, Administrative Agent Company and each Bank a written confirmation of any telephonic Collateral Notice which is given on a Borrowing Date.