Common use of Physical Inventory Clause in Contracts

Physical Inventory. Borrower shall conduct a physical count of the Inventory at such intervals as FINOVA requests and promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.

Appears in 7 contracts

Samples: Loan and Security Agreement (Performance Printing Corp), Loan and Security Agreement (Automotive One Parts Stores Inc), Loan and Security Agreement (Organic Food Products Inc)

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Physical Inventory. Borrower shall conduct a physical count of the Inventory at such intervals as FINOVA requests its auditors require, but not less than annually and after the occurrence of an Event of Default as requested by FINOVA, promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

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Physical Inventory. Borrower shall conduct a physical count of the ------------------ Inventory at such reasonable intervals as FINOVA requests may request and promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.

Appears in 1 contract

Samples: Finova Loan and Security Agreement (Utilx Corp)

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