Common use of Inspection and Verification Clause in Contracts

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any Agent and such Persons as such Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 party, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement).

Appears in 2 contracts

Samples: Domestic Security Agreement (Pliant Corp), Canadian Security Agreement (Pliant Corp)

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Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any Agent and such Persons as such Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 party, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement).

Appears in 2 contracts

Samples: Canadian Security Agreement (Pliant Corp), Domestic Security Agreement (Pliant Corp)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.16 of the Credit Agreement).

Appears in 2 contracts

Samples: Credit Agreement (Shared Technologies Inc), Security Agreement (Shared Technologies Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall at reasonable intervals and upon reasonable prior notice have the right, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement9.17).

Appears in 2 contracts

Samples: Credit Agreement (Intersil Holding Co), Credit Agreement (Fairchild Semiconductor International Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any the Collateral Agent and such Persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 party, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement).

Appears in 2 contracts

Samples: Domestic Security Agreement (Pliant Corp), Canadian Security Agreement (Pliant Corp)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any the Collateral Agent and such Persons as such the collateral Agent may reasonably designate shall have the right, at the Grantors' own cost costs and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from form such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' Grantor's 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 partypart, by contacting Account Debtors or the third person possessing such Collateral for the purpose purposes of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Huntsman Packaging Corp)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyPerson, by contacting Account Debtors in the event of and during the continuance of an Event of Default or the third person Person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Psinet Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors in the event of and during the continuance of an Event of Default or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 8.13 of the Credit Term Loan Agreement).

Appears in 1 contract

Samples: Security Agreement (Triton PCS Holdings Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any Agent Secured Party and such Persons as such Agent Secured Party may reasonably designate shall have the right, at the Grantors' Debtors’ own cost and expense, to 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 of each Debtor with the officers of such Debtor and, upon the Grantors and occurrence of an Event of Default, with 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 and other Rights to Payment or Collateral in the possession of any third partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Secured Party shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.08 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Planar Systems Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement9.16).

Appears in 1 contract

Samples: Security Agreement (GSV Inc /Fl/)

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Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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, 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 partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.16 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Interactive Media Corp)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any the Collateral Agent and such Persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 party, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Huntsman Packaging of Canada LLC)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyPerson, by contacting Account Debtors while a Notice of Enforcement is in effect or the third person Person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Security Agreement (Leap Wireless International Inc)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons as such the Collateral Agent may reasonably designate shall at reasonable intervals and upon reasonable prior notice have the right, at the GrantorsDebtors' own cost and expense, to 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 GrantorsDebtors' affairs with the officers of the Grantors Debtors and (with the participation of or prior notice to such officers) 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 partyPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 11(q) of the Credit Agreement).

Appears in 1 contract

Samples: Pledge Agreement (Mentor Corp /Mn/)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, upon reasonable notice, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 9.16 of the Credit Agreement).

Appears in 1 contract

Samples: Credit Agreement (LTV Corp)

Inspection and Verification. Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any The Collateral Agent and such Persons persons as such the Collateral Agent may reasonably designate shall have the right, at the Grantors' own cost and expense, to 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 partyperson, by contacting Account Debtors in the event of and during the continuance of an Event of Default or the third person possessing such Collateral for the purpose of making such a verification. The Agents Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 10.12 of the Credit Agreement9.16).

Appears in 1 contract

Samples: Pledge Agreement (Triton PCS Inc)

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