Collateral Field Exam definition
Collateral Field Exam means a report, commissioned by Lender, which confirms the performance of Borrower's working capital accounts, including but not limited to accounts receivables, inventory and any deferred liabilities related to the Borrower's and any of its Subsidiaries' respective businesses.
Collateral Field Exam means an examination of the Borrower's and Subsidiaries' accounts and inventory and all records, reports and other documents related thereto, and any other affairs of such parties' businesses as reasonably requested by the Lenders, conducted at such time as agreed to by the Borrower and the Lenders (but prior to the occurrence of a Capital Market Event), in order to determine an appropriate formula for determining a Borrowing Base and the components related thereon upon the occurrence of a Capital Market Event.