Initial Field Exam definition
Initial Field Exam means the first full field examination of the Loan Parties conducted and completed by Agent, whether occurring or completed prior to or after the Closing Date.
Initial Field Exam means a field examination of the Borrowers completed by Hilco Valuation Services.
Initial Field Exam means the initial Field Exam engaged by the Agent; provided that the Initial Field Exam shall be completed within one hundred twenty (120) days of the Closing Date (which date may be extended (x) automatically by sixty (60) days if it is not commercially feasible to conduct a Field Exam within one hundred twenty (120) days of the Closing Date as a result of the COVID-19 pandemic or related events or (y) by the Agent in its sole discretion); provided further, that, the Initial Field Exam shall outline the Inventory Reserves.
Examples of Initial Field Exam in a sentence
The Canadian Initial Field Exam shall have been completed and delivered to the Administrative Agent.
More Definitions of Initial Field Exam
Initial Field Exam means a field exam prepared by one or more third parties that are reasonably satisfactory to the Administrative Agent (it being understood and agreed that Hilco Valuation Services is acceptable to the Administrative Agent).
Initial Field Exam means the first full field examination of Borrowers’ Receivables and Inventory completed by Agent (or on behalf of Agent), whether occurring or completed prior to or after the Closing Date. “Insolvency Event” shall mean, with respect to any Person, including without limitation any Lender, such Person or such Person’s direct or indirect Parent (a) becomes the subject of a bankruptcy or insolvency proceeding (including any proceeding under any Insolvency Law), or regulatory restrictions, (b) has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it or has called a meeting of its creditors, (c) admits in writing its inability, or is generally unable, to pay its debts as they become due or ceases operations of its present business, (d) with respect to a Lender, such ▇▇▇▇▇▇ is unable to perform hereunder due to the application of Applicable Law, or (e) in the good faith determination of Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment of a type described in clauses (a) or (b), provided that an Insolvency Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person or such Person’s direct or indirect Parent by a Governmental Body or instrumentality thereof if, and only if, such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Body or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 29 074658.00041/136182926v.3 074658.00041/152601366v.3 074658.00041/136182926v.6 074658.00041/136182926v.7 074658.00041/136182926v.10 074658.00041/150851455v.1 074658.00041/150851455v.4
Initial Field Exam has the meaning specified in Section 6.19(b).
Initial Field Exam means, the initial field examination conducted after the Closing Date, prepared by a provider acceptable to Administrative Agent and with results and in form and substance satisfactory to Agent.
Initial Field Exam means the first full field examination of Borrowers’ Receivables and Inventory completed by Agent (or on behalf of Agent), whether occurring or completed prior to or after the Closing Date.
Initial Field Exam means the initial Field Examination with respect to Loan Parties performed for Agent by Hilco prior to the Closing Date. “Initial Inventory Appraisal” shall mean shall mean the initial Field Examination with respect to Loan Parties performed for Agent by Hilco prior to the
Initial Field Exam has the meaning assigned to such term in the definition of Initial Supported Borrowing Base Date.