Common use of Audit, Appraisal, and Valuation Charges Clause in Contracts

Audit, Appraisal, and Valuation Charges. At all times following the date of the Initial Credit Extension, audit, appraisal, and valuation fees and charges as follows (i) a fee of $850 per day, per auditor, plus out-of-pocket expenses for each financial audit of Borrower performed by personnel employed by Lender, (ii) if implemented, a fee of $850 per day, per applicable individual, plus out-of-pocket expenses for the establishment of electronic collateral reporting systems, (iii) the actual charges incurred by Lender for each appraisal of the Collateral, or any portion thereof, performed by personnel employed by Lender, and (iv) the actual charges paid or incurred by Lender if it elects to employ the services of one or more third Persons to perform financial audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess Borrower’s or its Subsidiaries’ business valuation; provided, however, that, notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, Borrower shall not be responsible for the charges incurred in connection with appraisals of the Collateral to the extent that such appraisals are done more frequently than (x) prior to the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, three (3) times and (B) with respect to appraisals, three (3) times, and (y) after the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, four (4) times and (B) with respect to appraisals, four (4) times (it being understood and agreed that the foregoing shall not prohibit in any way Lender from performing, or causing the performance of, such audits and appraisals more frequently).

Audit, Appraisal, and Valuation Charges. At all times following the date of the Initial Credit Extension, auditAudit, appraisal, and valuation fees and charges as follows (i) a fee of $850 per day, per auditor, plus out-of-pocket expenses for each financial audit of Borrower performed by personnel employed by Lender, (ii) if implemented, a fee of $850 per day, per applicable individual, plus out-of-pocket expenses for the establishment of electronic collateral reporting systems, (iii) the actual charges incurred by Lender for each appraisal of the Collateral, or any portion thereof, performed by personnel employed by Lender, and (iv) the actual charges paid or incurred by Lender if it elects to employ the services of one or more third Persons to perform financial audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess Borrower’s or its Subsidiaries’ business valuation; provided, however, that, notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, Borrower shall not be responsible for the charges incurred in connection with appraisals of the Collateral to the extent that such appraisals are done more frequently than (x) prior to the occurrence of a Triggering Event Date, Two (2) times during any fiscal year, (A) with respect to audits, three (3) times and (B) with respect to appraisals, three (3) times, and (y) after the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, four Four (4) times and (B) with respect to appraisals, four (4) times during any fiscal year (it being understood and agreed that the foregoing shall not prohibit in any way Lender from performing, or causing the performance of, such audits and appraisals more frequently).

Audit, Appraisal, and Valuation Charges. At all times following the date of the Initial Credit Extension, auditAudit, appraisal, and valuation fees and charges as follows (i) a fee of $850 950 per day, per auditor, plus out-of-pocket transportation and lodging expenses for each financial audit of Borrower performed by personnel employed by LenderAgent, (ii) if implemented, a fee of $850 950 per day, per applicable individual, plus out-of-pocket expenses for the one-time establishment of electronic collateral reporting systems, (iii) the actual charges incurred by Lender a fee of $1,500 per day per appraiser, plus out-of-pocket expenses, for each appraisal of the Collateral, or any portion thereof, performed by personnel employed by LenderAgent, and (iv) the actual charges paid a fee of $1,500 per day per appraiser, or incurred by Lender $950 per day per auditor or other individual, as applicable, plus additional out-of-pocket transportation and lodging expenses, and such additional out-of-pocket non-personnel related expenses, as applicable, if it Agent elects to employ the services of one or more third Persons to perform financial audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess Borrower’s or its Subsidiaries’ business valuation; provided. The foregoing notwithstanding, howeverfrom and after the Restatement Date, that, notwithstanding the foregoing, Borrower shall not be required to pay for more than 2 financial audits and 1 inventory appraisal during any 12 consecutive month period so long as no Event of Default has occurred and is continuing, it being understood that, for any audit or appraisal conducted (or commenced) at a time when an Event of Default shall have occurred and be continuing, Borrower shall not be responsible pay all fees as specified above for the charges Agent’s employees and all expenses and costs paid or incurred in connection with appraisals of the Collateral to the extent that such appraisals are done more frequently than (x) prior to the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, three (3) times and (B) with respect to appraisals, three (3) times, and (y) after the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, four (4) times and (B) with respect to appraisals, four (4) times (it being understood and agreed that the foregoing shall not prohibit in any way Lender from performing, or causing the performance of, such audits and appraisals more frequently)by Agent.

Audit, Appraisal, and Valuation Charges. At all times following the date of the Initial Credit Extension, auditAudit, appraisal, and valuation fees and charges as follows (i) a fee of $850 1,000 per day, per auditor, plus out-of-pocket transportation and lodging expenses for each financial audit of Borrower performed by personnel employed by LenderAgent, (ii) if implemented, a fee of $850 1,000 per day, per applicable individual, plus out-of-pocket expenses for the one-time establishment of electronic collateral reporting systems, (iii) the actual charges incurred by Lender a fee of $1,500 per day per appraiser, plus out-of-pocket expenses, for each appraisal of the Collateral, or any portion thereof, performed by personnel employed by LenderAgent, and (iv) the actual charges paid a fee of $1,500 per day per appraiser, or incurred by Lender $1,000 per day per auditor or other individual, as applicable, plus additional out-of-pocket transportation and lodging expenses, and such additional out-of-pocket non-personnel related expenses, as applicable, if it Agent elects to employ the services of one or more third Persons to perform financial audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess Borrower’s or its Subsidiaries’ business valuation; provided. The foregoing notwithstanding, howeverfrom and after the Closing Date, that, notwithstanding the foregoing, Borrower shall not be required to pay for more than 2 financial audits and 2 inventory appraisals during any 12 consecutive month period so long as no Event of Default has occurred and is continuing, it being understood that, for any audit or appraisal conducted (or commenced) at a time when an Event of Default shall have occurred and be continuingoccurred, Borrower shall not be responsible pay all fees as specified above for the charges Agent’s employees and all expenses and costs paid or incurred in connection with appraisals of the Collateral to the extent that such appraisals are done more frequently than (x) prior to the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, three (3) times and (B) with respect to appraisals, three (3) times, and (y) after the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, four (4) times and (B) with respect to appraisals, four (4) times (it being understood and agreed that the foregoing shall not prohibit in any way Lender from performing, or causing the performance of, such audits and appraisals more frequently)by Agent as specified above.

Audit, Appraisal, and Valuation Charges. At all times following the date of the Initial Credit Extension, auditAudit, appraisal, and valuation fees and charges as follows (i) a fee of $850 per day, per auditor, plus out-of-pocket expenses for each financial audit of Borrower performed by personnel employed by Lender, (ii) if implemented, a fee of $850 per day, per applicable individual, plus out-of-pocket expenses for the establishment of electronic collateral reporting systems, (iii) the actual charges incurred by Lender for each appraisal of the Collateral, or any portion thereof, performed by personnel employed by Lender, and (iv) the actual charges paid or incurred by Lender if it elects to employ the services of one or more third Persons to perform financial audits of Borrower or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral, or any portion thereof, or to assess Borrower’s 's or its Subsidiaries’ ' business valuation; provided, however, that, notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, Borrower shall not be responsible for the charges incurred in connection with appraisals of the Collateral to the extent that such appraisals are done more frequently than (x) prior to the occurrence of a Triggering Event Date, two (2) times during any fiscal year, (A) with respect to audits, three (3) times and (B) with respect to appraisals, three (3) times, and (y) after the occurrence of a Triggering Event Date, during any fiscal year, (A) with respect to audits, four (4) times and (B) with respect to appraisals, four (4) times during any fiscal year (it being understood and agreed that the foregoing shall not prohibit in any way Lender from performing, or causing the performance of, such audits and appraisals more frequently).