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"means if at any time Availability is less than the greater of (a) 15% of the Line Cap and (b) $14,062,500.", "size": 156, "id": "increased-reporting-event", "examples": ["Notwithstanding the foregoing, if an <strong>Increased Reporting Event</strong> has occurred and is continuing, instead of providing the Agent with a Borrowing Base Certificate on a monthly basis, the Borrower shall provide the Agent with a Borrowing Base Certificate on a weekly basis, on Wednesday of each week (as of the immediately preceding Saturday), commencing with the week in which the <strong>Increased Reporting Event</strong> occurs.", "Without limiting the foregoing, the Loan Parties acknowledge that the Agent shall undertake one (1) commercial finance examination each Fiscal Year at the Loan Parties\u2019 expense; provided that if an <strong>Increased Reporting Event</strong> has occurred in any Fiscal Year, the Agent may, in its Permitted Discretion, undertake up to two (2) commercial finance examinations at the Loan Parties\u2019 expense in each such Fiscal Year.", "Without limiting the foregoing, the Loan Parties acknowledge that the Agent shall undertake one (1) inventory appraisal each Fiscal Year at the Loan Parties\u2019 expense; provided that if an <strong>Increased Reporting Event</strong> has occurred in any Fiscal Year, the Agent may, in its Permitted Discretion, undertake up to two (2) inventory appraisals at the Loan Parties\u2019 expense in each such Fiscal Year.", "The Lender shall not conduct more than One (1) such appraisals of the Collateral at the Borrower\u2019s expense during any Twelve (12) month period during which this Agreement is in effect, unless an Event of Default has occurred and is continuing or an <strong>Increased Reporting Event</strong> has occurred and not been remedied, in which case the Lender in its discretion, may undertake additional such appraisals at the Borrower\u2019s expense during such period as the Lender shall require.", "Without limiting the foregoing, the Borrower acknowledges that the Agent may, in its discretion, undertake up to two (2) commercial finance examinations in any Fiscal year at the Borrower\u2019s expense, provided that during the continuance of an <strong>Increased Reporting Event</strong> arising as a result of the Borrower\u2019s failure to maintain the required Availability, the Agent may undertake up to three (3) commercial finance examinations in any Fiscal year at the Borrower\u2019s expense.", "The Borrower Parties hereby acknowledge and agree that an <strong>Increased Reporting Event</strong> has occurred and is continuing.", "Notwithstanding anything to the contrary in the Credit Agreement or any other Loan Document, the Borrower Parties hereby further acknowledge and agree that the existence of such <strong>Increased Reporting Event</strong> shall be deemed to continue until the later of (a) the date that is twelve (12) months after the date of this Amendment and (b) the last day of the month in which the Administrative Borrower delivers written evidence to the Agent that such <strong>Increased Reporting Event</strong> has ended.", "In the absence of an Event of Default, such (i) examinations and audits shall not take place more than (nor less than) one (1) time per calendar year (increasing to two (2) times per calendar year if an <strong>Increased Reporting Event</strong> has occurred during such calendar year), and (ii) appraisals shall not take place more than (nor less than) one (1) time per calendar year (increasing to two (2) times per calendar year if an <strong>Increased Reporting Event</strong> has occurred during such calendar year).", "If the Agents shall request at any time when an <strong>Increased Reporting Event</strong> has occurred and is continuing, the Loan Parties shall execute and deliver to the Agents Borrowing Base Certificates weekly on the third Business Day of each week as of the last day of the immediately preceding week."], "related": 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