Common use of Borrowing Base Determination Clause in Contracts

Borrowing Base Determination. (a) The Borrower shall conduct, or shall cause to be conducted, at its expense, upon request of the Agent, and present to the Agent for approval, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of determining the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested, and the Lenders and their respective representatives shall be entitled to participate with the Agent, at their own expense, in any such appraisals, investigations and reviews so requested by the Agent. The Borrower shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing Base, including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligors. (b) The Borrower shall promptly notify the Agent and the Lenders in writing in the event that at any time the Borrower or any of its Subsidiaries receives or otherwise gains knowledge that (i) the Borrowing Base is less than 80% of the Borrower's Borrowing Base reflected in the most recent Borrowing Base Certificate delivered by the Borrower pursuant to Section 6.12(c) or that (ii) the outstanding Revolving Credit Loans borrowed and Letters of Credit issued under Article II at such time exceed the Available Credit as a result of any decrease in the Borrowing Base and the amount of such excess. (c) The Agent may make test verifications of the Accounts and physical verifications of the Inventory in any reasonable manner and through any medium that the Agent considers advisable, and the Borrower shall furnish all such assistance and information as the Agent may require in connection therewith.

Borrowing Base Determination. (a) The Upon the request of the Agent, the Borrower shall conduct, or shall cause to be conducted, at its expense, upon request of the Agent, and shall present to the Agent for approval, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of determining confirming the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested, and the Lenders and their respective representatives shall be entitled to participate with the Agent, at their own expense, in any such appraisals, investigations and reviews so requested by the Agent. The Borrower shall furnish to the Agent any information which that the Agent may reasonably request regarding the determination and calculation of the Borrowing Base, including including, without limitation, correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligors. (b) The Borrower shall promptly notify the Agent and the Lenders in writing in the event that at any time the Borrower or any of its Subsidiaries receives or otherwise gains knowledge that (i) the outstanding Loans and Letter of Credit Obligations exceed the Borrowing Base is less than 80% of the Borrower's Borrowing Base reflected in the most recent Borrowing Base Certificate delivered by the Borrower pursuant to Section 6.12(c) or that (ii) the outstanding Revolving Credit Loans borrowed and Letters of Credit issued under Article II at such time exceed the Available Credit as a result of any a decrease in the Borrowing Base therein, and the amount of such excess. (c) The Agent may make test verifications of the Accounts and physical verifications of the Loan Parties' Inventory in any reasonable manner and through any medium that the Agent considers advisable, and the Borrower Loan Parties shall furnish all such assistance and information as the Agent may require in connection therewith.

Borrowing Base Determination. (a) The Each Borrower shall conduct, or shall cause to be conducted, at its expense, and upon request of the Agent, and present deliver to the Agent for approvalAgent, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of determining the Borrowing BaseBase (Unadjusted), all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested, and the Lenders and their respective representatives shall be entitled to participate with the Agent, at their own expense, in any such appraisals, investigations and reviews so requested by the Agent. The Each Borrower shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing Base, Base (Unadjusted) including correct and complete copies of any Leases, invoices, underlying agreements, instruments or other documents and the identity of all obligorsdocuments. (b) The Each Borrower shall promptly notify the Agent and the Lenders in writing in the event that at any time the such Borrower or any of its Subsidiaries receives or otherwise gains knowledge that (i) as a result of a Mortgaged Property no longer being a Qualified Mortgaged Property, the Borrowing Base (Unadjusted) is less than 8099% of the Borrower's Borrowing Base (Unadjusted) reflected in the most recent Borrowing Base Certificate delivered by the Borrower pursuant to Section 6.12(c) 3.1 or that 5.1, as applicable, (ii) the outstanding Revolving Credit Loans borrowed and Letters of Credit issued under Article II at such time exceed the Available Borrowing Base (Revolving Credit Loans) as a result of any a decrease in the Borrowing Base (Unadjusted), and the amount of such excess, or (iii) the outstanding Term Loans exceed the Borrowing Base (Unadjusted) as a result of a decrease in the Borrowing Base (Unadjusted), and the amount of such excess. (c) The Agent may make test verifications of the Accounts and physical verifications TLCF of the Inventory any Mortgaged Property in any reasonable manner and through any medium that the Agent considers advisable, and the each Borrower shall furnish all such assistance and information as the Agent may require in connection therewith.

Borrowing Base Determination. (a) The Borrower shall conduct, or shall cause to be conducted, at its expense, and upon request of the Agent, and present to the Agent for approval, such appraisals, investigations and reviews as the Agent shall reasonably request for the purpose of determining the Borrowing Base, all upon reasonable notice and at such reasonable times during normal business hours and as often as may be reasonably requested, and the Lenders and their respective representatives shall be entitled to participate requested in accordance with the Agent, at their own expense, in any such appraisals, investigations and reviews so requested by the Agent's customary practices. The Borrower shall furnish to the Agent any information which the Agent may reasonably request regarding the determination and calculation of the Borrowing BaseBase and which is available to the Borrower without undue cost or effort, including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all obligorsAccount Debtors in respect of Accounts referred to therein. (b) The Borrower shall promptly notify the Agent and the Lenders in writing in the event that at any time the Borrower or any of its Subsidiaries receives or otherwise gains knowledge that (i) the Borrowing Base is less than 80% of has decreased by $10,000,000 from the Borrower's Borrowing Base reflected in the most recent Borrowing Base Certificate delivered by the Borrower pursuant to Section 6.12(c6.1(h) or that (ii) the outstanding Revolving Credit Loans borrowed and Letters of Credit issued under Article II at such time Outstandings exceed the Available Credit Borrowing Base as a result of any a decrease in the Borrowing Base therein, and the amount of such excess. (c) The Agent may may, at the Borrower's sole cost and expense, make test verifications of the Accounts and physical verifications of the Inventory in any reasonable manner and through any medium that the Agent considers advisable, and the Borrower shall furnish all such assistance and information as the Agent may require in connection therewith.