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Common use of Audits and Appraisals Clause in Contracts

Audits and Appraisals. (i) The Administrative Agent or its Affiliates shall have conducted a field examination of the Borrowers’ assets, liabilities, cash management systems, reporting and books and records, and the results of such field examination shall be reasonably satisfactory to the Administrative Agent in all respects; and (ii) The Administrative Agent shall have received an FLV Appraisal, and the results of such FLV Appraisal shall be satisfactory to the Administrative Agent in all respects;

Appears in 3 contracts

Samples: Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.), Credit Agreement (Independence Contract Drilling, Inc.)

Audits and Appraisals. (i) The Administrative Agent or its Affiliates shall have conducted a field examination of the Borrowers’ assets, liabilities, cash management systems, reporting and books and records, and the results of such field examination shall be reasonably satisfactory to the Administrative Agent in all respects; and (ii) The Administrative Agent shall have received an FLV Appraisalappraisals conducted on certain Inventory and trademarks of the Loan Parties, and the results of such FLV Appraisal appraisals shall be satisfactory to the Administrative Agent in all respects;.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Joe's Jeans Inc.), Revolving Credit Agreement (Joe's Jeans Inc.)