Common use of Inspection and Verification Clause in Contracts

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 2 contracts

Samples: Resated Security Agreement (Consolidated Communications Illinois Holdings, Inc.), Security Agreement (Consolidated Communications Texas Holdings, Inc.)

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Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, in accordance with Section 5.11 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Credit Agreement (Northwestern Steel & Wire Co)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, in accordance with Section 5.06 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verificationverification during normal business hours upon reasonable advance notice. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Security Agreement (New Playboy Inc)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, upon reasonable notice and at reasonable times at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, in accordance with Section 5.09 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Pledge Agreement (Kansas City Southern Industries Inc)

Inspection and Verification. The Subject to, but without limiting, the terms and conditions of Sections 5.09 and 5.10 of the Credit Agreement, the Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Security Agreement (Dri I Inc)

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Inspection and Verification. The Collateral Agent and --------------------------- such Persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personparty, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Credit Agreement (Ixl Enterprises Inc)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures, in accordance with Section 5.07 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: S. Security Agreement (Crown Cork & Seal Co Inc)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, at any reasonable time or times and at the Grantors' Grantor's own cost and expense, to at all reasonable times and intervals and upon reasonable notice under the circumstances inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss any of the Grantors' affairs with the officers of the Grantors such Grantor and their its independent accountants and to verify under reasonable procedures, procedures the validity, amount, quality, quantity, value, condition and status of, of or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personparty, by contacting Account Debtors or the third person party possessing such Collateral for the purpose of making such a verification. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any other Secured Party.

Appears in 1 contract

Samples: Asset Purchase Agreement (Ta Operating Corp)

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