Borrowing Base Certificate; Other Information Sample Clauses
The 'Borrowing Base Certificate; Other Information' clause requires the borrower to regularly provide the lender with a certificate that details the current value of the assets forming the borrowing base, such as accounts receivable or inventory, along with any other relevant financial information. Typically, this certificate must be prepared in a specified format and delivered at set intervals, ensuring the lender can verify that the loan remains properly collateralized. This clause's core function is to maintain transparency and enable the lender to monitor the borrower's financial position, thereby managing credit risk and ensuring ongoing compliance with loan terms.
Borrowing Base Certificate; Other Information. Deliver to the Administrative Agent for distribution to each Lender, in form and detail satisfactory to the Administrative Agent:
(a) on or before the 20th day of each calendar month from and after the date hereof, Borrower Agent shall deliver to the Administrative Agent, in form acceptable to the Administrative Agent in its Credit Judgment, a Borrowing Base Certificate as of the last day of the immediately preceding calendar month, with such supporting materials as the Administrative Agent shall reasonably request (including weekly reporting of rolling forward accounts receivable data by reporting weekly sales, cash collections and credits and monthly reporting of gross inventory, inventory ineligibles and accounts receivable ineligibles). If a Reporting Trigger Period exists, Borrower Agent shall execute and deliver to Administrative Agent Borrowing Base Certificates and all such supporting materials weekly within three (3) Business Days of each week then ended and current as of the close of the prior week; for the avoidance of doubt, such Borrowing Base Certificates and supporting materials shall include, without limitation, an updated calculation of the Borrowing Base. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrowers and certified by a Responsible Officer, provided that the Administrative Agent may from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the Concentration Account or otherwise; (b) to adjust advance rates to reflect changes in dilution, quality, mix and other factors affecting the Collateral; and (c) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserve, the Line Reserve, other Reserves, or the Borrowing Base (and the Administrative Agent shall notify the Borrowers of any such adjustment and its effective date);
(b) on or before the 20th day of each calendar month from and after the date hereof, Borrower Agent shall deliver to the Administrative Agent, in the form reasonably acceptable to the Administrative Agent, detailed trial balances generated by Borrowers’ enterprise resource planning system of the following: (i) reconciliations of all Borrowers’ Accounts as shown on the month-end Borrowing Base Certificate for the immediately preceding month to Borrowers’ accounts receivable agings, to Borro...
Borrowing Base Certificate; Other Information. Cause the Borrower Agent to deliver to the Lender, in form and detail satisfactory to the Lender: * * *
Borrowing Base Certificate; Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
Borrowing Base Certificate; Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: (a) on or before the 20th of each month from and after the date hereof, Borrower Agent shall deliver to Administrative Agent, in form acceptable to the Administrative Agent, a Borrowing Base Certificate as of the last day of the immediately preceding month, with such supporting materials as the Administrative Agent shall reasonably request (including weekly reporting of rolling forward accounts receivable data by reporting weekly sales, cash collections and credits and monthly reporting of gross inventory, inventory ineligibles and accounts receivable ineligibles). If a Reporting Trigger Period exists, Borrower Agent shall execute and deliver to Administrative Agent a Borrowing Base Certificate on or before Wednesday of each week. All calculations of Availability in any Borrowing Base Certificate shall initially be made by Borrowers and certified by a Responsible Officer, provided that the Administrative Agent may from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, including due to collections received in the
Borrowing Base Certificate; Other Information. Agent shall deliver to Lenders, on Monday of each week and on such other days as any Lender may reasonably request, a Borrowing Base Certificate in respect of the Loans, prepared by Agent and dated as of the Friday preceding such Monday or as of such other day. Agent shall deliver promptly to Lenders such other reports and information relating to the Collateral and the performance of the Obligations hereunder as any Lender may from time to time reasonably request; provided that Agent shall receive reasonable additional compensation from Borrowers for services rendered beyond those specifically enumerated in this Agreement.
Borrowing Base Certificate; Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
(a) on or before the 25th of each month, from and after the date hereof, or if weekly reporting is requested by the Administrative Agent, on Wednesday of each week, Borrower Agent shall deliver to Administrative Agent, in form acceptable to the Administrative Agent, a Borrowing Base Certificate as of the last day of the immediately preceding month or week, as applicable, with such supporting materials as the Administrative Agent shall reasonably request (including weekly reporting of rolling forward accounts receivable data by reporting weekly sales, cash collections and credits and monthly reporting of accounts receivable ineligibles). All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrowers and certified by a Responsible Officer, provided that the Administrative Agent may from time to time review and adjust any such calculation (a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the Concentration Account or otherwise; (b) to adjust advance rates to reflect changes in dilution, quality, mix and other factors affecting Collateral; and (c) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserve.”
Borrowing Base Certificate; Other Information. Section 4.7 Standard of Care of Agent; Duties; Indemnification..................................41 Section 4.8 Fees and Expenses of Agent.......................42 Section 4.9 Availability of Documents........................42 Section 4.10 Representations and Warranties of Borrowers With Regard to the Collateral.........................43
Borrowing Base Certificate; Other Information. (b) of the Credit Agreement is hereby deleted and the following is inserted in its stead:
Borrowing Base Certificate; Other Information. Cause the Borrower Agent to deliver to the Lender, in form and detail satisfactory to the Lender: * * *