Common use of Borrowing Base Audit Rights Clause in Contracts

Borrowing Base Audit Rights. Permit representatives and independent contractors of the Administrative Agent to visit and to conduct appraisals and collateral examinations of the Eligible Loan Receivables of the Borrower and the Subsidiary Guarantors, which shall include, without limitation, of the Borrower’s practices in the computation of the Borrowing Base, and related financial information, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, that, excluding any such visits and inspections during the continuation of an Event of Default, the Administrative Agent shall not exercise such rights more than one (1) time during any calendar year absent the existence and continuance of an Event of Default; provided that when an Event of Default exists, the Administrative Agent (or its representatives or independent contractors) may do any of the foregoing, in each case, at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice.

Borrowing Base Audit Rights. Permit representatives and independent contractors of the Administrative Agent to visit and to conduct appraisals and collateral examinations of the Eligible Loan Receivables of the Borrower and the Subsidiary Guarantors, which shall include, without limitation, of the Borrower’s practices in the computation of the Borrowing Base, and related financial information, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, that, excluding any such visits and inspections during the continuation of an Event of Default, the Administrative Agent shall not exercise such rights more than one (1) time during any calendar ca- lendar year absent the existence and continuance of an Event of Default; provided that when an Event of Default exists, the Administrative Agent (or its representatives or independent contractors) may do any of the foregoing, in each case, at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice.