Common use of Borrowing Base Audits Clause in Contracts

Borrowing Base Audits. Periodically at the request of the Agent --------------------- or the Majority Revolving Credit Lenders, but in no event more frequently than twice in each fiscal year so long as no Event of Default has occurred and is continuing, a report, the scope and cost of which shall be reasonably acceptable to the Revolving Credit Lenders and Borrower (the reasonable cost and expense of which, unless an Event of Default shall have occurred and be continuing, for one shall be for the sole account of Borrower), of an independent collateral auditor (which may be, or be affiliated with, one of the Lenders) with respect to the Inventory included in the Borrowing Base as at the end of a monthly accounting period, which report shall indicate that, based upon a review by such auditors of the Inventory (including verification as to the value, location and respective types), the information set forth in the Borrowing Base Certificate delivered by Borrower as at the end of such accounting period is accurate and complete in all material respects;

Borrowing Base Audits. Periodically at At the request of the Administrative Agent --------------------- or the Majority Revolving Credit Required Lenders, but in no event more frequently than twice in each fiscal year (i) quarterly so long as no Default has occurred and is continuing, (ii) monthly in the event a Default shall have occurred and be continuing and (iii) at any time in the event an Event of Default has occurred and is continuing, a report, the scope and cost of which shall be reasonably acceptable to the Revolving Credit Lenders and the Borrower (the reasonable cost and expense of which, unless an Event of Default shall have occurred and be continuing, for one which shall be for the sole account of the Borrower), of an independent collateral auditor (which may be, or be affiliated with, one of the Lenders) with respect to the Accounts and Inventory included in the Borrowing Base as at the end of a monthly accounting period, which report shall indicate that, based upon a review by such auditors of the Accounts and Inventory (including verification as to the value, location and respective types), the information set forth in the Borrowing Base Certificate delivered by the Borrower as at the end of such accounting period is accurate and complete in all material respects;

Borrowing Base Audits. Periodically at At the request of the Administrative Agent --------------------- or the Majority Revolving Credit Required Lenders, but in no event more frequently than twice in each fiscal year (i) annually, so long as no Default has occurred and is continuing, (ii) monthly in the event a Default shall have occurred and be continuing and (iii) at any time in the event an Event of Default has occurred and is continuing, a report, the scope and cost of which shall be reasonably acceptable to the Revolving Credit Lenders and the Borrower (the reasonable cost and expense of which, unless an Event of Default shall have occurred and be continuing, for one which shall be for the sole account of the Borrower), of an independent collateral auditor (which may be, or be affiliated with, one of the Lenders) with respect to the Accounts and Inventory included in the Borrowing Base as at the end of a monthly accounting period, which report shall indicate that, based upon a review by such auditors of the Accounts and Inventory (including verification as to the value, location and respective types), the information set forth in the Borrowing Base Certificate delivered by the Borrower as at the end of such accounting period is accurate and complete in all material respects;; and