Common use of Initial Borrowing Base Certificate Clause in Contracts

Initial Borrowing Base Certificate. Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts, Eligible Inventory and Eligible WIP Inventory of Borrower as of a date not more than two (2) Business Days prior to the Closing Date in the case of Eligible Accounts, and as of the Fiscal Month end immediately prior to the Closing Date, in the case of Eligible Inventory and Eligible WIP Inventory.

Initial Borrowing Base Certificate. Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Effective Date, reflecting information concerning Eligible Accounts, Eligible Inventory Accounts and Eligible WIP Inventory of Borrower as of a date not more than two seven (27) Business Days days prior to the Closing Date in the case of Eligible Accounts, and as of the Fiscal Month end immediately prior to the Closing Effective Date, in the case of Eligible Inventory and Eligible WIP Inventory.. (See SCHEDULE 1 (12))