Common use of BORROWING BASE REPORT, ETC Clause in Contracts

BORROWING BASE REPORT, ETC. For purposes of computing the Borrowing Base, the Borrower shall furnish to the Lender the Borrowing Base Certificate set forth on Exhibit 1 together with such other information adequate to identify Accounts and Inventory at times and in form and substance as may be required by the Lender, executed by a duly authorized representative of Borrower, together with such certificates as the Lender may require from the Borrower representing that no Event of Default has occurred and that the Borrower knows of no event which, but for the passage of time or the giving of notice, would create an Event of Default. From time to time, the Borrower shall provide the Lender with schedules describing all Accounts created or acquired by the Borrower and shall execute and deliver written assignments of such Accounts to the Lender; provided, however, that the Borrower's failure to execute and deliver such schedules and/or assignments shall not affect or limit the Lender's security interest or other rights in and to any Collateral. Together with each schedule, the Borrower shall, upon reasonable request of the Lender, furnish copies of customers' invoices or the equivalent, and original shipping or delivery receipts for all merchandise sold, and the Borrower warrants the genuineness thereof. The Borrower further warrants that all Accounts are and will be bona fide existing obligations created by the sale and delivery of merchandise or the rendition of services to customers in the ordinary course of business, free of liens, encumbrances and security interests and unconditionally owed to the Borrower and, to the best of the Borrower's knowledge, without defense, offset or counterclaim.

BORROWING BASE REPORT, ETC. For purposes of computing the Borrowing Base, the Borrower shall furnish to shall, within twenty (20) days after the Lender the Borrowing Base Certificate set forth on Exhibit 1 together with end of each month, and at such other information adequate to identify Accounts and Inventory at times and in form and substance as may be required by the LenderBank, executed by furnish to the Bank (i) a duly authorized representative of BorrowerBorrowing Base Certificate in the form attached hereto as Exhibit 2.1, together (ii) an accounts receivable aging report, along with ineligible information adequate to identify Eligible Accounts, (iii) an Inventory report, (iv) an accounts payable aging, (v) reconciliations and (vi) such other certificates as the Lender Bank may reasonably require from the Borrower representing Borrower, including certifications that no Event of Default has occurred and that the Borrower knows of no event which, but for the passage of time or the giving of notice, would create an Event of Default. From In addition to the documents described above, from time to time, upon reasonable request of the Bank, the Borrower shall provide the Lender Bank with schedules describing all Accounts created or acquired by the Borrower and shall execute and deliver written assignments of such Accounts to the LenderBank; provided, however, that the Borrower's ’s failure to execute and deliver such schedules and/or assignments shall not affect or limit the LenderBank's security interest or other rights in and to any Collateral. Together ; and together with each schedule, the Borrower shall, upon reasonable request of the LenderBank, furnish copies of customers' ’ invoices or the equivalent, and original shipping or delivery receipts for all merchandise sold, and the Borrower warrants the genuineness thereof. The Borrower further warrants that all Accounts are and will be bona fide existing obligations created by the sale and delivery of merchandise or the rendition of services to customers in the ordinary course of business, free of liens, encumbrances and security interests (except for Permitted Liens) and unconditionally owed to the Borrower and, to the best of the Borrower's ’s knowledge, without defense, offset or counterclaim.

BORROWING BASE REPORT, ETC. For purposes of computing the Borrowing Base, the Borrower shall furnish to the Lender the Borrowing Base Certificate set forth on Exhibit 1 together with such other information adequate to identify Accounts Receivables and Inventory at times and in form and substance as may be required by the Lender, executed by a duly authorized representative of Borrower, together with such certificates as the Lender may require from the Borrower representing that no Event of Default has occurred and that the Borrower knows of no event which, but for the passage of time or the giving of notice, would create an Event of Default. From time to time, the Borrower shall provide the Lender with schedules describing all Accounts Receivables created or acquired by the Borrower and shall execute and deliver written assignments of such Accounts Receivables to the Lender; provided, however, that the Borrower's failure to execute and deliver such schedules and/or assignments shall not affect or limit the Lender's security interest or other rights in and to any Collateral. Together After an Event of Default or in connection with each scheduleany audit by Lender, the Borrower shall, upon reasonable request of the Lender, furnish copies of customers' invoices or the equivalent, and original shipping or delivery receipts for all merchandise sold, and the Borrower warrants the genuineness thereof. The Borrower further warrants that all Accounts Receivables are and will be bona fide existing obligations created by the sale and delivery of merchandise or the rendition of services to customers in the ordinary course of business, free of liens, encumbrances and security interests and unconditionally owed to the Borrower and, to the best of the Borrower's knowledge, without defense, offset or counterclaim, subject to credits which, to the best of the Borrower's actual knowledge at that time, will not exceed 5% of Borrower's total Receivables.