Common use of Records of the Collateral Clause in Contracts

Records of the Collateral. Debtor at all times shall maintain accurate books and records covering the Collateral. Bank is hereby given the right to audit the books and records of Debtor relating to the Collateral at any reasonable time and from time to time. The amounts shown as owed to Debtor on Debtor's books and on any assignment schedule will be the undisputed amounts owing and unpaid.

Records of the Collateral. Debtor at all times shall maintain accurate books and records covering the Collateral. Debtor immediately will mark xxx books and records with an entry showing the absolute assignment of all Collateral to Bank, and Bank is hereby given the right to audit the books and records of Debtor relating to the Collateral at any reasonable time and from time to time. The amounts shown as owed to Debtor on Debtor's books and on any assignment schedule will be the undisputed amounts owing and unpaid.