Appraisals Field Exams Clause Samples
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Appraisals Field Exams. Whenever a Default exists, and at such other times (not more frequently than twice per Fiscal Year) as the Agent requests, the Loan Parties shall, at their sole expense, provide the Agent with appraisals or updates thereof of their Inventory, Equipment and real Property from an appraiser, and prepared on a basis, reasonably satisfactory to the Agent, such appraisals and updates to include, without limitation, information required by applicable law and regulations and by the internal policies of the Lenders. Whenever a Default exists, and at such other times (not more frequently than every 180 days as the Agent requests), the Agent shall have the right to conduct a field exam of each Loan Party at the sole cost and expense of the Loan Parties. Notwithstanding the foregoing, unless a Default has occurred and is continuing, the Loan Parties shall not be required to provide the Agent any Inventory appraisal or update to any Inventory appraisal if, during the period comprised of the 12 Fiscal Months immediately prior to the scheduled commencement of any such appraisal, Availability is not less than $40,000,000 for 3 consecutive Business Days or any 5 Business Days in any of such Fiscal Months.
Appraisals Field Exams. The Administrative Agent shall have received satisfactory field exams and a satisfactory appraisal of Equipment from an appraiser satisfactory to the Administrative Agent; provided that, in the sole discretion of the Administrative Agent, such appraisals and field exams may be delivered after the Effective Date.
Appraisals Field Exams. Promptly following completion thereof, copies of any appraisals and field exams delivered under the ABL Credit Agreement, to the extent made available by ABL Lender.
Appraisals Field Exams. Whenever a Default exists, and at such other times commencing after April 1, 2004 (not more frequently than twice per Fiscal Year) as the Agent requests, the Loan Parties shall, at their sole expense, provide the Agent with appraisals or updates thereof of their Inventory, Equipment and real Property from an appraiser, and prepared on a basis, reasonably satisfactory to the Agent, such appraisals and updates to include, without limitation, information required by applicable law and regulations and by the internal policies of the Lenders. Whenever a Default exists, and at such other times (not more frequently than every 120 days as the Agent requests), the Agent shall have the right to conduct a field exam of each Loan Party at the sole cost and expense of the Loan Parties.
Appraisals Field Exams