Effect on Borrowing Base. In the event (i) any Person becomes a Borrower (the "new Borrower") or (ii) any Borrower or Restricted Subsidiary makes an Acquisition and, in each case, Borrower Agent or Borrowers seek to include such assets of the new Borrower or such assets acquired in connection with such Acquisition (the "acquired assets") in the Aggregate Borrowing Base, Agent may require (and shall require to the extent that the assets which are Collateral of such new Borrower or the purchase price of, or allocated to, such acquired assets (which assets are Collateral) is $50,000,000 or more), as a condition to including such assets in the Aggregate Borrowing Base, a satisfactory appraisal of such assets, a field examination of such assets and other due diligence materials with respect to such assets and any such new Borrower, in each case to be conducted at the expense of Borrowers. If such appraisal, field examination and/or due diligence is required by Agent, then, unless otherwise agreed by Agent, until such time as such appraisal, field exam and other due diligence is complete, the assets of such new Borrower or the acquired assets, as applicable, will not be eligible for inclusion in the Aggregate Borrowing Base; provided, however, that, at the option of Borrower Agent, assets having an aggregate Value not to exceed 10% of the Aggregate Borrowing Base on the date of exercise of such option, by Borrower Agent's giving of written notice thereof to Agent, may be included in the Aggregate Borrowing Base upon completion of an appraisal acceptable to Agent in its Permitted Discretion and without completion of a field examination or other due diligence (other than an appraisal). For the avoidance of doubt, no assets of any Person other than a Borrower shall be included in the Aggregate Borrowing Base.
Effect on Borrowing Base. No Inventory of any Person which becomes a Borrower shall be Eligible Inventory and no Accounts of such Person shall be Eligible Accounts until Agent shall have completed and received all due diligence materials with respect to such Person as Agent may reasonably request, including, but not limited to, an appraisal of such Person’s Inventory and a field examination with respect to such Person’s assets, financial position and other information pertaining to the Collateral that Agent may require, in each case, in form and substance satisfactory to Agent in its discretion. For the avoidance of doubt, no assets of any Guarantor shall be included in the Borrowing Base at any time unless and until such Guarantor is a Borrower and has complied with the terms hereof.
Effect on Borrowing Base. No Inventory of any Person which becomes a Borrower shall be Eligible Inventory and no Accounts of such Person shall be Eligible Accounts until Agent shall have completed and received all due diligence materials with respect to such Person as Agent may reasonably request, including, but not limited to, an appraisal of such Person’s Inventory and a field examination with respect to such Person’s assets, financial position and other information that Agent may require, in each case, in form and substance satisfactory to Agent in its discretion.
Effect on Borrowing Base. Upon the giving of notice of termination pursuant to Section 14.2, the Borrower may not borrow an amount in excess of the unpaid principal balance of the Revolving Loan at the time of such notice.
Effect on Borrowing Base. The rental streams derived from the Leases of Leased Equipment financed with proceeds of Advances of the Equipment Loan shall be excluded from the definition of "Eligible Receivables" for purposes of determining the Borrowing Base limitations applicable to the Revolving Credit Note. The Leased Equipment shall likewise be excluded from the definition of "Eligible Inventory" for purposes of determining the Borrowing Base limitations applicable to the Revolving Credit Note.
