Common use of Access and Examination Clause in Contracts

Access and Examination. In order to give effect to the intent of this Agreement the Administrative Agent may at all reasonable times upon reasonable advance notice (if no Default or an Event of Default has occurred and is continuing) have access to, examine, audit, make extracts from and inspect each Grantor’s records, files and books of account and the Collateral, and may discuss each Grantor’s affairs with such Grantor’s officers and management. Each Grantor will deliver to the Administrative Agent promptly following its request therefor any instrument necessary for the Administrative Agent to obtain records from any service bureau maintaining records for such Grantor. The Administrative Agent may, at expense of the Grantors, use each Grantor’s personnel, supplies and premises as may be reasonably necessary for maintaining or enforcing the security interest granted hereunder. The Administrative Agent shall have the right, at any time, in each Grantor’s name to verify the validity, amount or any other matter relating to the Receivables Collateral; provided that the Administrative Agent shall not communicate with any account obligors of the Grantors unless an Event of Default has occurred and is continuing.

Appears in 6 contracts

Samples: Security Agreement (CatchMark Timber Trust, Inc.), Security Agreement (CatchMark Timber Trust, Inc.), Security Agreement (Wells Timberland REIT, Inc.)

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Access and Examination. In order to give effect to the intent of this Agreement the The Administrative Agent may at all reasonable times shall (upon reasonable advance prior notice (if no Default or unless an Event of Default has occurred and is continuingoccurred, in which case no prior notice shall be required) have access to, examine, audit, make extracts from or copies of, and inspect any or all of each Grantor’s records, files files, and books of account and the Collateral, and may discuss each Grantor’s the affairs of any Grantor with such Grantor’s officers and managementmanagement and the officers and management of any other Grantor. Each Grantor will deliver to the Administrative Agent promptly following its request therefor any instrument necessary for the Administrative Agent to obtain records from any service bureau maintaining records for such Grantor. The Administrative Agent may at any time when an Event of Default exists and at such Grantor’s expense make copies of all of any Grantor’s books and records, or require such Grantor to deliver such copies to the Administrative Agent. The Administrative Agent may, at without expense to the Administrative Agent, use such of the Grantors, use each Grantor’s ’ respective personnel, supplies supplies, facilities and premises equipment as may be reasonably necessary for maintaining or enforcing the security interest granted hereunderAdministrative Agent’s Liens. The Administrative Agent shall have the right, at any time, in each Grantorthe Administrative Agent’s name or in the name of a nominee of the Administrative Agent, to verify the validity, amount amount, or any other matter relating to the Receivables Accounts, Inventory, or other Collateral; provided that the Administrative Agent shall not communicate with any account obligors of the Grantors unless an Event of Default has occurred and is continuing, by mail, telephone, or otherwise.

Appears in 2 contracts

Samples: Credit Agreement (Lufkin Industries Inc), Credit Agreement (Lufkin Industries Inc)

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Access and Examination. In order to give effect to the intent of this Agreement Agreement, the Administrative Agent may at all reasonable times upon reasonable advance notice (and, if no Default or an Event of Default has occurred and is continuing) , upon reasonable advance notice, have access to, examine, audit, make extracts from and inspect each Grantor’s records, files and books of account and the Collateral, and may discuss each Grantor’s affairs with such Grantor’s officers and management. Each Grantor will deliver to the Administrative Agent promptly following its request therefor any instrument necessary for the Administrative Agent to obtain records from any service bureau maintaining records for such Grantor. The Administrative Agent may, at the expense of the Grantors, use each Grantor’s personnel, supplies and premises as may be reasonably necessary for maintaining or enforcing the security interest granted hereunder. The Administrative Agent shall have the right, at any time, in each Grantor’s name to verify the validity, amount or any other matter relating to the Receivables Collateral; provided that the Administrative Agent shall not communicate with any account obligors of the Grantors unless an Event of Default has occurred and is continuing.

Appears in 1 contract

Samples: Security Agreement (CatchMark Timber Trust, Inc.)

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