Common use of Maintenance of Books and Records; Inspection Clause in Contracts

Maintenance of Books and Records; Inspection. The Company shall maintain its books, accounts and records in accordance with GAAP, and permit the Secured Party, its officers and employees and any professionals designated by the Secured Party in writing, at any time during normal business hours and upon reasonable notice to visit and inspect any of its properties (including but not limited to the collateral security described in the Transaction Documents and/or the Loan Instruments), corporate books and financial records, and to discuss its accounts, affairs and finances with any employee, officer or director thereof (it being agreed that, unless an Event of Default shall have occurred and be continuing, there shall be no more than two (2) such visits and inspections in any Fiscal Year).

Appears in 25 contracts

Samples: Security Agreement (Senesco Technologies Inc), Security Agreement (Open Energy Corp), Security Agreement (Tech Laboratories Inc)

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Maintenance of Books and Records; Inspection. The Company shall maintain its books, accounts and records in accordance with GAAP, and permit the Secured Party, its officers and employees and any professionals designated by the Secured Party in writing, at any time during normal business hours and upon reasonable notice to visit and inspect any of its properties (including but not limited to the collateral security described in the Transaction Documents and/or the Loan InstrumentsDocuments), corporate books and financial records, and to discuss its accounts, affairs and finances with any employee, officer or director thereof (it being agreed that, unless an Event of Default shall have occurred and be continuing, there shall be no more than two (2) such visits and inspections in any Fiscal Year).

Appears in 2 contracts

Samples: Security Agreement (Innova Robotics & Automation, Inc.), Security Agreement (Innova Robotics & Automation, Inc.)

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Maintenance of Books and Records; Inspection. The Company shall maintain its books, accounts and records in accordance with GAAP, and permit the Secured Party, its officers and his employees and any professionals designated by the Secured Party in writing, at any time during normal business hours and upon reasonable notice to visit and inspect any of its properties (including but not limited to the collateral security described in the Transaction Documents and/or the Loan Instruments), corporate books and financial records, and to discuss its accounts, affairs and finances with any employee, officer or director thereof (it being agreed that, unless an Event of Default shall have occurred and be continuing, there shall be no more than two (2) such visits and inspections in any Fiscal Year).

Appears in 1 contract

Samples: Security Agreement (Open Energy Corp)

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