Borrower's Records Clause Samples
The 'Borrower's Records' clause establishes the requirement for the borrower to maintain accurate and complete records related to the loan or financial arrangement. Typically, this clause specifies the types of records that must be kept, such as financial statements, transaction logs, or documentation of compliance with loan terms, and may require that these records be accessible for inspection by the lender upon request. Its core practical function is to ensure transparency and accountability, enabling the lender to verify the borrower's financial status and adherence to the agreement, thereby reducing the risk of default or misrepresentation.
Borrower's Records. Borrower shall furnish such financial statements, invoices, records, papers and documents relating to the Property as Lender may reasonably require from time to time to make the determinations permitted or required to be made by Lender under this Agreement.
Borrower's Records. Section 5 is deleted in its entirety and the following is substituted therefor:
Borrower's Records. Borrower will
(i) maintain at its principal place of business or such other location as approved in advance by Bank, an individual account record for each Contract; (ii) enter each Contract payment in the appropriate account records; (iii) keep said account records segregated; (iv) allow Bank at any reasonable time to audit, inspect and copy the account records; and, (v) ▇▇▇▇ each Contract and its account record conspicuously to show the interest of Bank, after any Default hereunder. Prior to each delivery of Contracts to Bank, Borrower shall supply any necessary assignment or endorsement thereon. For each location where Borrower keeps Inventory or Equipment, Borrower shall maintain a separate, accurate and detailed record of all such items in a manner acceptable to Bank. Borrower shall permit Bank to audit, inspect and copy all records relating thereto during normal business hours. Borrower hereby authorizes Bank to verify with any Account Debtor the status of any Contract and before a Default, Bank will give prior notice to Borrower of Bank's intention to do so. After a Default, Bank may do so from time to time and without notice to Borrower.
Borrower's Records. Pledgor shall cause WEO to keep and maintain books and records of accounts in which full, true and correct entries shall be made of all dealings and transactions relating to WEO and the Interests, which books and records of account shall at all normal business hours following reasonable notice be open to the inspection of Lender and its accountants and other duly authorized representatives of Lender.
Borrower's Records. Borrower will
(i) maintain at its principal place of business or such other location as approved in advance by Bank, an individual account record for each Contract; (ii) enter each Contract payment in the appropriate account records; (iii) keep said account records segregated; and (iv) allow Bank at any reasonable time to audit, inspect and copy the account records. Borrower shall permit Bank to audit, suspect and copy all records relating thereto during normal business hours. Borrower hereby authorizes Bank to verify with any Account Debtor the status of any Contract and before a Default, Bank will give prior notice to Borrower of Bank's intention to do so. After a Default, Bank may do so from time to time and without notice to Borrower.
Borrower's Records. Borrower (for itself and on behalf of each Guarantor) shall maintain records specifying (a) all Obligations incurred by the Borrower and guaranteed by the Guarantors, (b) the date of such incurrence, (c) the date and amount of any payments made in respect of such Obligations and (d) all inter-company obligations pursuant to paragraph 9.2 above. Borrower shall make copies of such records available to the Administrative Agent, upon request.
Borrower's Records. Borrower (on behalf of each Obligor) shall maintain records specifying (a) all Obligations incurred by each Obligor, (b) the date of such incurrence, (c) the date and amount of any payments made in respect of such Obligations and (d) all inter-Obligor obligations pursuant to paragraph 9.2 above. Borrower shall make copies of such records available to the Administrative Agent, upon request.
Borrower's Records. Borrower shall furnish such financial statements, invoices, records, papers and Documents relating to the Property as Lender may reasonable require from time to time to make the determinations permitted or required to be made by Lender under this Agreement.
Borrower's Records. Borrower shall furnish such financial statements, invoices, records, papers and documents relating to the Hotel as Lender may reasonably require from time to time to make the determinations permitted or required to be made by Lender under this Agreement.
Borrower's Records. The Borrower will maintain at its principal place of business or such other location as approved in advance by the Bank an individual account record for each Qualified Account, will enter each Qualified Account payment in the appropriate account records, will keep said account records segregated, will allow the Bank at any time during normal business hours to audit, inspect and copy the account records and will, upon request of the Bank, mark ▇▇▇h Qualified Account and its account record conspicuously to show the interest of the Bank.