Common use of Books and Records; Collateral Examination, Inspection and Appraisals Clause in Contracts

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours.

Appears in 3 contracts

Samples: Credit and Security Agreement (Provena Foods Inc), Credit and Security Agreement (Newtek Business Services Inc), Credit and Security Agreement (Digital Angel Corp)

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Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Each Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s Borrowers' business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s 's request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower Borrowers at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the BorrowerBorrowers, and to discuss the Borrower’s Borrowers' affairs with any of its their Directors, Officers, employees or agents. (b) The Each Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s Borrowers' expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the BorrowerBorrowers. (c) The Each Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower Borrowers at any time during ordinary business hourshours and upon reasonable notice. (d) The Lender may also, from time to time, no more than two times each calendar year, obtain at the Borrowers' expense an appraisal of Inventory by an appraiser acceptable to the Lender in its sole discretion.

Appears in 2 contracts

Samples: Credit and Security Agreement (Misonix Inc), Credit and Security Agreement (Misonix Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time reasonably request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the BorrowerBorrower as the Borrower directs. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time upon reasonable advance notice to the Borrower during ordinary business hours.

Appears in 2 contracts

Samples: Credit and Security Agreement (CPS Technologies Corp/De/), Credit and Security Agreement (CPS Technologies Corp/De/)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain an appraisal of Inventory by an appraiser acceptable to the Lender in its sole discretion, which appraisals shall be at the Borrower’s expense if conducted during any Default Period, and at the Lender’s expense at all other times.

Appears in 2 contracts

Samples: Credit and Security Agreement (Exabyte Corp /De/), Credit and Security Agreement (Exabyte Corp /De/)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Each Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the such Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the such Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, Borrower and to discuss the such Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Each Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s Borrowers’ expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the any Borrower. (c) The Each Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the any Borrower at any time during ordinary business hours.

Appears in 2 contracts

Samples: Credit and Security Agreement (Global Employment Holdings, Inc.), Credit and Security Agreement (Global Employment Holdings, Inc.)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrower’s expense an appraisal of Collateral by an appraiser acceptable to the Lender in its sole discretion. Notwithstanding the foregoing, unless an Event of Default shall have occurred, Lender shall not conduct more than one (1) such appraisal annually.

Appears in 2 contracts

Samples: Credit and Security Agreement (Professional Veterinary Products LTD /Ne/), Credit and Security Agreement (Professional Veterinary Products LTD /Ne/)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, during the continuance of an Event of Default, no more than once each calendar year, obtain at the Borrower’s expense an appraisal of any of Collateral and/or the Mortgaged Real Estate by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Waters Instruments Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, in the event of an Event of Default by Borrower, obtain at the Borrower’s expense an appraisal of Inventory and Equipment by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (uBid.com Holdings, Inc.)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrower’s expense an appraisal of Collateral by an appraiser acceptable to the Lender in its sole but reasonable discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (MGP Ingredients Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower Borrowers will keep accurate books of record and account for itself themselves pertaining to the Collateral and pertaining to the Borrower’s Borrowers’ business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower Borrowers at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the BorrowerBorrowers, and to discuss the Borrower’s Borrowers’ affairs with any of its Directors, Officers, employees or agents. (b) The Borrower Borrowers hereby irrevocably authorizes authorize all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s Borrowers’ expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the BorrowerBorrowers. (c) The Borrower Borrowers will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower Borrowers at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrowers’ expense an appraisal of Collateral by an appraiser acceptable to the Lender in its sole discretion._]

Appears in 1 contract

Samples: Credit and Security Agreement (Pacific Cma Inc)

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Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s 's business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s 's request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s 's affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s 's expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, but, absent an Event of Default, no more than one time each calendar year, obtain at the Borrower's expense an appraisal of Inventory, Equipment, and Real Estate by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Interpharm Holdings Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Each Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower Borrowers at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the BorrowerBorrowers, and to discuss the Borrower’s Borrowers’ affairs with any of its Directors, Officers, employees or agents. (b) The Borrower Borrowers hereby irrevocably authorizes authorize all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s Borrowers’ expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the BorrowerBorrowers. (c) The Borrower Borrowers will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower Borrowers at any time during ordinary business hours.

Appears in 1 contract

Samples: Loan and Security Agreement (Vein Associates of America Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender upon reasonable advance notice (so long as no Event of Default has occurred, in which event no advance notice need be given) to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties parties, excluding attorneys, to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower Borrower, upon reasonable advance notice (so long as no Event of Default has occurred, in which event no advance notice need be given), will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours.

Appears in 1 contract

Samples: Credit and Security Agreement (Pure Earth, Inc.)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrower’s expense an appraisal of any Collateral by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Delphax Technologies Inc)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower Borrowers will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s Borrowers' business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s 's request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower Borrowers at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the BorrowerBorrowers, and to discuss the Borrower’s Borrowers' affairs with any of its their Directors, Officers, employees or agents. (b) The Borrower Borrowers hereby irrevocably authorizes authorize all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s Borrowers' expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the BorrowerBorrowers. (c) The Borrower Borrowers will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower Borrowers at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrowers' expense an appraisal of Inventory and Equipment by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Emrise CORP)

Books and Records; Collateral Examination, Inspection and Appraisals. (a) The Borrower will keep accurate books of record and account for itself pertaining to the Collateral and pertaining to the Borrower’s 's business and financial condition and such other matters as the Lender may from time to time request in which true and complete entries will be made in accordance with GAAP and, upon the Lender’s 's request, will permit any officer, employee, attorney, accountant or other agent of the Lender to audit, review, make extracts from or copy any and all company and financial books and records of the Borrower at all times during ordinary business hours, to send and discuss with account debtors and other obligors requests for verification of amounts owed to the Borrower, and to discuss the Borrower’s 's affairs with any of its Directors, Officers, employees or agents. (b) The Borrower hereby irrevocably authorizes all accountants and third parties to disclose and deliver to the Lender or its designated agent, at the Borrower’s 's expense, all financial information, books and records, work papers, management reports and other information in their possession regarding the Borrower. (c) The Borrower will permit the Lender or its employees, accountants, attorneys or agents, to examine and inspect any Collateral or any other property of the Borrower at any time during ordinary business hours. (d) The Lender may also, from time to time, obtain at the Borrower's expense an appraisal of Inventory and other Collateral by an appraiser acceptable to the Lender in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Seaway Valley Capital Corp)

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