INVENTORIES, APPRAISALS, AND AUDITS Sample Clauses
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Collateral Agent, at the reasonable expense of the Loan Parties, may participate in and/or observe each scheduled physical count of Inventory which is undertaken on behalf of any Loan Party.
(b) The Loan Parties, at their own expense, shall cause not less than one (1) physical inventory of each of Borrower to be undertaken in each twelve (12) month period during which this Agreement is in effect conducted by such inventory takers as are reasonably satisfactory to the Collateral Agent and following such methodology as may be reasonably satisfactory to the Collateral Agent.
(i) The Lead Borrower, within forty-five (45) days following the completion of such inventory, shall provide the Collateral Agent with a reconciliation of the results of each such inventory (as well as of any other physical inventory undertaken by any Loan Party) and shall post such results to the Loan Parties' stock ledger and, as applicable to the Loan Parties' other financial books and records .
(ii) The Collateral Agent, in their reasonable, good faith discretion, if any Event of Default has occurred and is continuing, may cause such additional inventories to be taken as the Collateral Agent determine (each, at the expense of the Loan Parties).
(c) The Collateral Agent may obtain appraisals of the Collateral (copies of which, subject to the approval of the appraiser, shall be provided to the Lead Borrower promptly upon receipt thereof), from time to time (in all events, at the Loan Parties' expense) conducted by Hilco Appraisal Services, LLC or such appraisers as are satisfactory to the Collateral Agent. The Collateral Agent may conduct one (1) appraisal (in each event, at the Loan Parties' expense) of the Collateral during any twelve (12) month period during which this Agreement is in effect, but in their reasonable, good faith discretion, during the occurrence and continuance of an Event of Default, may undertake additional such appraisals (likewise at the Loan Party's expense) during such period.
(d) The Collateral Agent may conduct one (1) commercial finance field examinations (in each event, at the Loan Parties' expense) of the Loan Parties' books and records during any twelve (12) month period during which this Agreement is in effect, but in their reasonable, good faith discretion during the occurrence and continuance of an Event of Default, may undertake additional such audits (likewise at the Loan Party's expense) during such period.
(e) Notwithstanding anything to the...
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Administrative Agent may observe each inventory and any cycle count of the Collateral which is undertaken on behalf of any Loan Party. The Loan Parties shall conduct not less than one physical inventory, per Store and per warehouse, per Fiscal year. The Administrative Agent does not contemplate undertaking or requiring any additional physical inventories by or of the Loan Parties, provided, however, the Administrative Agent may do so if a Default has occurred and is continuing.
(i) On the Administrative Agent’s request, the Borrowers’ Representative shall provide the Administrative Agent with a copy of the preliminary results of each such inventory (as well as of any other physical inventory undertaken by any Loan Party) within ten (10) days following the completion of such inventory.
(ii) The Borrowers’ Representative, within thirty (30) days following the completion of such inventory, shall provide the Administrative Agent with a reconciliation of the results of each such inventory (as well as of any other physical inventory undertaken by any Loan Party) and shall post such results to the Loan Parties’ stock ledger and, as applicable to the Loan Parties’ other financial books and records .
(iii) The Administrative Agent, in its discretion, if a Default has occurred and is continuing, may cause such additional inventories to be taken as the Administrative Agent determines (each, at the expense of the Loan Parties)
(b) The Administrative Agent may obtain appraisals of the Collateral, from time to time (in all events, at the Loan Parties’ expense) conducted by such appraisers as are satisfactory to the Administrative Agent. As of the Closing Date, the Administrative Agent contemplates obtaining two (2) appraisals (in all events, at the Loan Parties’ expense) of the Loan Parties’ Inventory during any twelve (12) month period during which this Agreement is in effect, each conducted by such appraisers as are satisfactory to the Administrative Agent. In addition, the Administrative Agent may obtain additional appraisals at its own expense, provided, however, following the occurrence of an Event of Default, the Administrative Agent may cause additional such appraisals to be undertaken at the Loan Parties’ expense.
(c) The Administrative Agent contemplates conducting two (2) commercial finance audits (in each event, at the Loan Parties’ expense) of the Loan Parties’ books and records during any twelve (12) month period during which this Agreement is in ef...
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Collateral Agent may, at the expense of the Borrowers, participate in and/or observe each inventory and any cycle count of the Collateral which is undertaken on behalf of the Borrowers (provided that any expenses of Collateral Agent for which Collateral Agent seeks reimbursement shall be reasonable expenses). No Borrower may, without the prior written consent of the Collateral Agent, change the methodology to be followed in connection with the conduct of and reporting on the results of such inventory from the methodology employed by the Borrowers as of the date of this Agreement.
(b) The Borrowers, at their expense, shall cause each store location, warehouse, and distribution center to have not less than One (1) physical inventory or cycle count in each Twelve (12) month period to be undertaken consistent with current practice, while this Agreement is in effect (the scheduling of which shall be subject to the Collateral Agent’s reasonable discretion), conducted by such inventory takers as are reasonably satisfactory to the Collateral Agent and following such methodology as may be reasonably satisfactory to the Agent.
(i) The Lead Borrower shall provide the Collateral Agent with a copy of the preliminary results of each such inventory (as well as of any other physical inventory undertaken by the Borrowers) within Ten (10) days after its completion.
(ii) The Lead Borrower shall provide the Collateral Agent with a reconciliation of the results of each such inventory (as well as of any other physical inventory undertaken by the Borrowers) to the Borrowers’ books and records within Thirty (30) days following the completion of such inventory.
(iii) The Collateral Agent, in its discretion, following the occurrence of and during the continuance of a Suspension Event, may cause such additional inventories to be taken as the Collateral Agent determines (each, at the expense of the Borrowers).
(c) The Collateral Agent contemplates obtaining up to One (1) appraisal (at the expense of the Borrower) of the Borrowers’ Inventory during each Twelve (12) month period during which this Agreement is in effect, each conducted by such appraisers as are satisfactory to the Collateral Agent, and contemplates obtaining up to One (1) additional appraisal (at the expense of the Borrowers) during any Twelve (12) month period in which Excess Availability falls below $20,000,000 at any time, but in its discretion, may obtain additional appraisals of the Borrowers’ Inventory and...
INVENTORIES, APPRAISALS, AND AUDITS. The Agent may, at the expense of the Borrowers, participate in and/or observe, each physical count and/or inventory of so much of the Collateral as consists of Inventory which is undertaken on behalf of the Borrowers.
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Collateral Agents, at the reasonable expense of the Loan Parties, may participate in and/or observe each scheduled physical count of Inventory which is undertaken on behalf of any Loan Party.
(b) The Loan Parties, at their own expense, shall cause not less than one (1) physical inventory of each of Division to be undertaken in each twelve (12) month period during which this Agreement is in effect conducted by such inventory takers as are reasonably satisfactory to the Collateral Agents and following such methodology as may be reasonably satisfactory to the Collateral Agents.
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Administrative Agent, at the expense of the Borrowers, may participate in and/or observe each count and/or physical inventory of so much of the Collateral as consists of Inventory which is undertaken on behalf of the Borrowers.
(b) The Borrowers, shall cause physical inventories to be undertaken as follows:
(i) Subject to Section 6:6-9(b)(ii), the Borrowers, at their own expense, shall cause at least one (1) physical inventory to be undertaken in each fiscal year during which this Agreement is in effect (the scheduling of which inventory shall be subject to the Administrative Agent's discretion after the occurrence and continuance of any Event of Default) conducted by such inventory takers as are satisfactory to the Administrative Agent and the Parent and which employs a methodology consistent with that which had been employed in physical inventories taken prior to November 1, 1999.
(ii) The Administrative Agent may cause or require additional inventories to be undertaken (in each instance, at the expense of the Borrowers) if an Event of Default or an Availability Trigger Event has occurred and is continuing.
(iii) On the Administrative Agent's reasonable request from time to time, the Lead Borrower shall provide the Administrative Agent with a copy of the preliminary results ("flash report") of a physical inventory conducted pursuant to this Section 6:6-9
INVENTORIES, APPRAISALS, AND AUDITS. Unless and until the Lender gives notice to the Borrower, the requirements of this Section 5-7 shall be satisfied by the Borrower's compliance with the cognate styled Section of the Tranche A Loan Agreement, and in all events, each of the limits (if any) on the number of events which may take place in any Twelve (12) month period, and each "cap" (if any) on costs and expenses for which the Borrower is obligated, as included in this Section 5-7 shall be applied as if the like event or payment of such costs and expenses, under such cognate styled Section of the Tranche A Loan Agreement had taken place or been made under this Section 5-7, it being the intention of the parties that the Borrower shall not be subjected to a doubling of the number of such events or of such costs and expenses by reason of the inclusion of such requirements in the Tranche A Loan Agreement and in this Section 5-7.
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Lender, at the expense of the Borrower in each instance after the occurrence and during the continuance of an Event of Default, may participate in and/or observe each physical count and/or inventory of so much of the Collateral as consists of Inventory which is undertaken on behalf of the Borrower.
(b) The Borrower, at its own expense, shall cause not less than two (2) (one (1) for Fiscal 2003) physical inventories to be undertaken in each twelve (12) month period during which this Agreement is in effect (the spacing of the scheduling of which inventories shall be subject to the Lender's discretion) conducted by such inventory takers as are satisfactory to the Lender and following such methodology as may be satisfactory to the Lender. Notwithstanding the foregoing, the Borrower may notify the Lender that the Borrower only intends to conduct one (1) such physical inventory during a particular period, in which event, no second inventory shall be undertaken, unless
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Administrative Agent, at the reasonable expense of the Borrowers (but in no event to exceed $25,000.00 per annum), may participate in and/or observe each physical count and/or inventory of so much of the Collateral as consists of Inventory which is undertaken on behalf of any Borrower.
(b) The Borrowers, at their own expense, shall cause not less than one (1) physical inventory of each of their locations to be undertaken in each twelve (12) month period during which this Agreement is in effect and shall cause cycle counts to be undertaken in a manner consistent with their practices in effect on the Closing Date (or such other procedures as may be reasonably satisfactory to the Administrative Agent).
INVENTORIES, APPRAISALS, AND AUDITS. (a) The Collateral Agent may, at the expense of the Borrowers, participate in and/or observe each physical count and/or inventory of so much of the Collateral as consists of Inventory which is undertaken on behalf of the Borrowers.
(b) The Borrowers, at their own expense, shall cause each Store location to have not less than one (1) physical inventory in January of each year and one (1) in July of each year to be undertaken, consistent with current practice, while this Agreement is in effect (the scheduling of which shall be subject to the Collateral Agent's discretion), conducted by such inventory takers as are satisfactory to the Collateral Agent and following such methodology as may be satisfactory to the Collateral Agent.
(i) The Lead Borrower shall provide the Collateral Agent with a copy of the preliminary results of each such inventory (as well as of any other physical inventory undertaken by the Borrowers) within ten (10) days after its completion.
(ii) The Lead Borrower shall provide the Collateral Agent with a reconciliation of the results of each such inventory (as well as of any other physical inventory undertaken by the Borrowers) to the Borrowers' books and records within thirty (30) days following the completion of such inventory.