Borrowing Base Audit. The Agent and the Arrangers shall have received, and shall be reasonably satisfied with the scope and results of, an audit of the Accounts and Inventory included in the Borrowing Base. Such audit shall be conducted by auditors reasonably satisfactory to the Agent and the Arrangers and shall include (i) a field examination of the accounts receivable and books and records related thereto and (ii) an assessment of accounting systems, accounting and other policies, accounts payable and other related procedures employed by the Business that relate to the computation of the Borrowing Base.
Borrowing Base Audit. As of dates to be designated by the Administrative Agent in its discretion, but at the cost of the Borrowers, reports of a collateral field examiner approved by the Administrative Agent in writing and reasonably acceptable to the Borrowers (which may be the Administrative Agent or an affiliate thereof) with respect to the components of the US Borrowing Base and the Canadian Borrowing Base and such other matters regarding the Credit Parties or the Collateral as the Administrative Agent or the Canadian Administrative Agent shall reasonably require; provided, that, in the absence of a Default or Event of Default (1) not more than one (1) field examination shall be required in any period of twelve (12) months if Excess Availability has not been less than $75,000,000 during such period, and (2) not more than two (2) field examinations will be required in any period of twelve (12) months in all other circumstances.
Borrowing Base Audit. Two times during any Fiscal Year, as of a date to be designated by the Administrative Agent, but at the cost of the Borrowers, a report of a collateral field examiner approved by the Administrative Agent in writing and reasonably acceptable to the Borrowers (which may be the Administrative Agent or an affiliate thereof) with respect to the Eligible Accounts, Eligible Included-In-Transit Inventory, Eligible Bailee Inventory and Eligible Inventory components for each of the Borrowers included in the US Borrowing Base and the Canadian Borrowing Base and such other matters regarding the Credit Parties or the Collateral as Administrative Agent or Canadian Administrative Agent shall reasonably require, and after the occurrence and during the continuance of a Default or if Excess Availability shall fall below $15,000,000, the Administrative Agent shall have the option to receive at the cost of the Borrowers such additional reports as the Administrative Agent or the Required Lenders shall reasonably request.
Borrowing Base Audit. At such times as Administrative Agent deems advisable, the Co-Borrowers will allow Administrative Agent or an entity satisfactory to Administrative Agent to conduct a thorough examination of the Collateral used to calculate the Borrowing Base Cap, and the Co-Borrowers will fully cooperate in such examination. The Co-Borrowers shall pay the reasonable costs and expenses related to the examinations.
Borrowing Base Audit. At the request of Lender, an annual report containing the results of an audit of the Accounts Receivable of Borrower, performed by a Person reasonably satisfactory to the Lender, the expense of such audit to be borne by Borrower; and
Borrowing Base Audit. At the cost of the Company, a report or reports of an independent collateral field examiner approved (i) by the Company, whose approval shall not be unreasonably withheld and (ii) by the Administrative Agent (and which collateral field examiner may be the Administrative Agent or an affiliate thereof) with respect to the Eligible Accounts and Eligible Inventory components included in the Borrowing Base. The Administrative Agent may (and, at the direction of the Required Lenders, shall) request such reports or additional reports as it (or the Required Lenders) shall reasonably deem necessary; provided, however, that so long as no Default has occurred and is continuing, the Company shall not be required to reimburse the cost of more than one such report per Fiscal Year.
Borrowing Base Audit. Upon the date eight months after the Closing Date, the Company shall commence the process of promptly thereafter providing the Agent with a report (with sufficient copies for each of the Banks) detailing the conclusions of a thorough review of the Company's system for the identification, collection, control and administration of its Accounts Receivable (the "Borrowing Base Audit"). The report shall be prepared by an auditor selected by the Agent on behalf of the Banks (or such other Person as the Agent on behalf of the Banks may specify, including, without limitation, any Affiliate of the Agent or the Banks). The Company shall assist the author(s) of the report in all ways (including with respect to access to premises, documents, personnel and information). The report shall set out in reasonable detail all supporting evidence for its conclusions. The Agent and each Bank shall be entitled to review the information used to support the report and to question the author(s) of the report and anyone interviewed or otherwise assisting in the preparation of such report (and for such purposes shall be permitted access to the premises, employees and records of the Company in accordance with Section 7.10
Borrowing Base Audit. A review by an independent collateral field examiner with respect to the Eligible Accounts and Eligible Inventory components of the Borrowing Base satisfactory to the Agent.
Borrowing Base Audit. The Agent shall have received the results of an audit of the inventory and accounts receivable of the Canadian 121 Borrower, and such report shall be in form and substance satisfactory to the Agent.
