Field Exams. The Administrative Agent or its designee shall have conducted a satisfactory field examination of the accounts receivable, inventory and related working capital matters and financial information of the Borrowers and EM LLC (its Property being that which is acquired as part of the Petro Acquisition) and of the related data processing and other systems.
Field Exams. At any time an Applicable Agent requests, the Borrowers will provide such Agent, at the sole expense of the Borrowers, reports of a collateral field examiner approved by the requesting Agent (which may be the Administrative Agent or an affiliate thereof) with respect to all of the components of the Canadian Borrowing Base, the UK Borrowing Base, the UAE Borrowing Base, the Singapore Borrowing Base and the US Borrowing Base and such other matters regarding the Loan Parties or the Collateral as such Agent shall reasonably require. Without limiting the foregoing right of the Applicable Agents to require a field examination/borrowing base audit at any time, as of the date of this Agreement it is anticipated that two field examination/borrowing base audit per fiscal year will be conducted with respect to each Borrower and its Eligible Subsidiary. The Borrowers shall pay all costs for each examination required pursuant to this Section 5.11 (including, without limitation, all reasonable travel and out of pocket costs) in accordance with the Applicable Agent’s, such Affiliates’ or any such third party’s fee schedule in effect from time to time.
Field Exams. Bank (through its officers, employees or agents) shall conduct, during Borrower’s usual business hours and at Borrower’s expense, an initial field examination of Borrower’s Books and the Collateral. Thereafter, Bank (through any of its officers, employees, or agents) shall have the right, upon reasonable prior notice, annually (or more frequently if an Event of Default has occurred and is continuing), during Borrower’s usual business hours and at Borrower’s expense, to conduct additional field examinations of Borrower’s Books and the Collateral. The cost of each field examination shall be $850 per day, per examiner, plus expenses.
Field Exams. Borrower and each Guarantor shall permit Lender or any agent or designee of Lender, including, without limitation, its attorneys, accountants and professional advisors, to conduct field examinations of the Collateral, at the sole cost of Borrower and Guarantors and at such reasonable times and intervals as Lender may reasonably request (unless an Event of Default shall have occurred and be continuing, in which event no notice shall be required and Lender shall have access at any and all times during the continuance thereof). Without limiting the foregoing, Borrower and each Guarantor agrees that Lender may conduct such field exams at least once each fiscal quarter of Borrower at Borrower and Guarantors’ expense. So long as no Event of Default has occurred and is continuing, Borrower and Guarantor shall not be required to reimburse amounts over $10,000 per quarter (or over $40,000 in the aggregate in any fiscal year) with respect to such field examinations.
Field Exams. If requested by the Administrative Agent, once per fiscal year of the Borrowers at any time as determined by the Administrative Agent, the Loan Parties will permit the Administrative Agent or professionals (including consultants, accountants, lawyers and appraisers) retained by the Administrative Agent, and, unless an Event of Default then exists and is continuing, on reasonable prior notice and during normal business hours, to conduct field examinations or updates thereof to ensure the adequacy of the Collateral included in the related reporting and control systems; provided that, if an Event of Default has occurred and is continuing during any calendar year there shall be no limitation as to the number and frequency of such field examinations during such calendar year and all such field examinations shall be at the sole expense of the Borrowers. For purposes of this Section 8.1.14, it is understood and agreed that a single field examination may consist of examinations conducted at multiple relevant sites and involve one or more relevant Loan Parties and their assets.
Field Exams. Such Loan Party will furnish to the Agent and the Lender Group Agents from time to time such information with respect to it and the Receivables as the Agent or any Lender Group Agent may reasonably request. Such Loan Party will, from time to time during regular business hours as requested by the Agent or any Lender Group Agent upon reasonable notice and at the sole cost of such Loan Party, permit the Agent and each Lender Group Agent, or its agents or representatives (and shall cause the Originator to permit the Agent and Lender Group Agents or its agents or representatives): (i) to examine and make copies of and abstracts from all Records in the possession or under the control of such Person relating to the Collateral, including, without limitation, the related Contracts, and (ii) to visit the offices and properties of such Person for the purpose of examining such materials described in clause (i) above, and to discuss matters relating to such Person’s financial condition or the Collateral or any Person’s performance under any of the Transaction Documents or any Person’s performance under the Contracts and, in each case, with any of the officers or employees of Borrower or the Servicer having knowledge of such matters (each of the foregoing examinations and visits, a “Review”); provided, however, that, so long as no Amortization Event has occurred and is continuing, (A) the Loan Parties shall only be responsible for the costs and expenses of three (3) Reviews in any one calendar year, and (B) the Agent and the Lender Group Agents will not request more than four (4) Reviews in any one calendar year (each Lender Group Agent hereby agrees that it will not, without prior consultation and agreement with the Agent, request any such Review).
Field Exams. Lender may conduct field exams at Lender’s discretion. Lender shall pay all costs and expenses of any such field exam.
Field Exams. Lender may cause commercial finance field examinations to be completed semi-annually, at Borrower's sole cost and expense.
Field Exams. The Administrative Agent or its designee shall have conducted a recent satisfactory field examination of the accounts receivable, inventory and related working capital matters and financial information of the Borrowers and the other Canadian Loan Parties, UK Loan Parties and US Loan Parties and of the related data processing and other systems.
Field Exams. The Provider will, and will cause the Originators to, furnish to Recipient, the Administrative Agent and each Purchaser from time to time such information with respect to it and the Receivables as any of them may reasonably request. The Provider will, from time to time during regular business hours as requested by the Recipient, the Administrative Agent or any Purchaser upon reasonable notice and at the sole cost of the Provider, permit the Recipient, the Administrative Agent and each of the Purchasers, or their respective agents or representatives (and shall cause each Originator to permit the Recipient, the Administrative Agent and each of the Purchasers or their respective agents or representatives): (i) to examine and make copies of and abstracts from all Records in the possession or under the control of such Person relating to the Receivables and the Related Security, including, without limitation, the related Contracts, and (ii) to visit the offices and properties of such Person for the purpose of examining such materials described in clause (i) above, and to discuss matters relating to such Person’s financial condition or the Receivables and the Related Security or any Person’s performance under any of the Transaction Documents or any Person’s performance under the Contracts and, in each case, with any of the officers or employees of Seller or the Collection Agent having knowledge of such matters. After completion of a post-closing field exam, it is anticipated that field exam frequency will be annually, but the Recipient or any Purchaser may reasonably request more frequent exams.
