ADDITIONAL OPTIONAL REQUIREMENTS Sample Clauses
The 'Additional Optional Requirements' clause defines supplementary conditions or obligations that may be imposed at the discretion of one or both parties. These requirements are not mandatory by default but can be activated or specified as needed, such as requesting extra documentation, compliance with certain standards, or participation in additional training. The core function of this clause is to provide flexibility, allowing the agreement to adapt to changing needs or unforeseen circumstances without requiring a full contract amendment.
ADDITIONAL OPTIONAL REQUIREMENTS. The Pledgor agrees that the Bank may at its option at any time, whether or not the Pledgor is in default:
(a) Require the Pledgor to deliver to the Bank (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(c) Require the Pledgor to deliver to the Bank any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign to the Bank the proceeds of any such letters of credit.
(d) Notify any account debtors, any buyers of the Collateral, or any other persons of the Bank’s interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Each Debtor agrees that the Agent may, at its option twice per calendar year, whether or not an Event of Default has occurred and is continuing and, if an Event of Default has occurred and is continuing, at its option any number of times:
(a) Require the Debtors to deliver to the Agent (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time, with or without prior notice, upon the property where any Collateral or any Books and Records are located.
ADDITIONAL OPTIONAL REQUIREMENTS. The Debtor agrees that the Secured Party may at its option at any time, whether or not the Debtor is in default:
(a) Require the Debtor to deliver to the Secured Party (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(c) Require the Debtor to deliver to the Secured Party any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign to the Secured Party the proceeds of any such letters of credit.
(d) Notify any account debtors, any buyers of the Collateral, or any other persons of the Secured Party’s interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. The Pledgor agrees that the Agent may at its option at any time:
(a) Require the Pledgor to deliver to the Agent (i) copies of or extracts from the Books and Records, and (ii) information, as Agent reasonably requests, concerning any material contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(c) Require the Pledgor to deliver to the Agent any instruments or chattel paper which are part of the Collateral to the extent required therefor pursuant to Section 3(h).
(d) If an Event of Default has occurred and is continuing, notify any account debtors, any buyers of the Collateral, or any other persons of the Agent's and the Lenders' interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Each Debtor agrees that the Creditors may, at their option at any time, whether or not any Debtor is in default:
(a) Require the Debtors to deliver to the Creditors (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time, with or without prior notice, upon the property where any Collateral or any Books and Records are located.
(c) Require each Debtor to deliver to the Creditors any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign to the Creditors the proceeds of any such letters of credit.
(d) Notify any account debtors, any buyers of the Collateral, or any other persons of the Creditors’ interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. The Pledgor agrees that the Purchaser may at its option at any time, upon reasonable prior notice to Pledgor, whether or not the Pledgor is in default:
(a) Require the Pledgor to deliver to the Purchaser (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters materially affecting the Collateral.
(b) Examine, during normal business hours, the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(c) Require the Pledgor to deliver to the Purchaser any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign to the Purchaser the proceeds of any such letters of credit.
(d) Notify any account debtors, any buyers of the Collateral, or any other persons of the Purchaser's interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Borrower agrees that the Administrative Agent may at its option at any time, whether or not Borrower is in default:
A. Require Borrower to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such collections and proceeds to the Administrative Agent in kind.
B. Require Borrower to deliver to the Administrative Agent (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
C. Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
D. Require Borrower to deliver to the Administrative Agent any instruments or chattel paper.
E. Notify any account debtors, any buyers of the Collateral, or any other persons of the Administrative Agent’s interest in the Collateral.
F. Require Borrower to direct all account debtors to forward all payments and proceeds of the Collateral to a post office box under the Administrative Agent’s exclusive control.
G. Demand and collect any payments and proceeds of the Collateral. In connection therewith Borrower irrevocably authorizes the Administrative Agent to endorse or sign Borrower’s name on all checks, drafts, collections, receipts and other documents, and to take possession of and open the mail addressed to Borrower and remove therefrom any payments and proceeds of the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Each Company agrees that the Purchaser may at its option at any time, whether or not any Company is in default:
(a) Require such Company to deliver to the Purchaser (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(b) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(c) Subject to the terms of the Subordination Agreement, require such Company to deliver to the Purchaser or the Senior Lender, as bailee for the benefit of the Purchaser for purposes of perfection in accordance with Section 31 of the Subordination Agreement, any instruments, chattel paper or letters of credit which are part of the Collateral, and to assign to the Purchaser the proceeds of any such letters of credit.
(d) Subject to the terms of the Subordination Agreement, notify any account debtors, any buyers of the Collateral, or any other persons of the Purchaser's interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Borrower agrees that Bank may at its option at any time, whether or not Borrower is in default:
A. Require Borrower to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such collections and proceeds to Bank in kind.
B. Require Borrower to deliver to Bank (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
C. Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
D. Require Borrower to deliver to Bank any instruments or chattel paper.
E. Require Borrower to obtain Bank's prior written consent to any sale, lease, agreement to sell or lease, or other disposition of any inventory. F. Notify any account debtors, any buyers of the Collateral, or any other persons of Bank's interest in the Collateral.
ADDITIONAL OPTIONAL REQUIREMENTS. Grantor agrees that Secured Party may at its option at any time, whether or not the indebtedness is in default:
(a) Require Grantor to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such collections and proceeds to Secured Party in kind.
(b) Require Grantor to deliver to Secured Party (i) copies of or extracts from the Books and Records, and (ii) information on any contracts or other matters affecting the Collateral.
(c) Examine the Collateral, including the Books and Records, and make copies of or extracts from the Books and Records, and for such purposes enter at any reasonable time upon the property where any Collateral or any Books and Records are located.
(d) Require Grantor to deliver to Secured Party any instruments or chattel paper.
(e) Require Grantor to obtain Secured Party's prior written consent to any sale, lease, agreement to sell or lease, or other disposition of any inventory except such sales or dispositions made in the ordinary course of business.
(f) Notify any account debtors, any buyers of the Collateral, or any other persons of Secured Party's interest in the Collateral.
(g) Upon the occurrence and during the continuance of an Event of Default, require Grantor to direct all account debtors to forward all payments and proceeds of the Collateral to a post office box under Secured Party's exclusive control.
(h) Upon the occurrence and during the continuance of an Event of Default, demand and collect any payments and proceeds of the Collateral. In connection therewith Grantor irrevocably authorizes Secured Party to endorse or sign Grantor's name on all checks, drafts, collections, receipts and other documents, and to take possession of and open the mail addressed to Grantor and remove therefrom any payments and proceeds of the Collateral.