Collateral Audits and Appraisals Sample Clauses

Collateral Audits and Appraisals. Agents shall have received (i) audits of the Inventory and Accounts of each Borrower and other Collateral designated by the Agents in form, scope and substance satisfactory to Agents, and (ii) appraisals, in form, scope and substance satisfactory to Agents, concerning (a) the value of any Real Property Assets constituting Closing Date Mortgaged Properties, and (b) the value of machinery and equipment of Borrowers and their Subsidiaries designated by Agent, in each case to the extent required by an Agent in its sole discretion.
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Collateral Audits and Appraisals. Agent shall have received (i) audits of the Inventory and Accounts of Borrower and its Subsidiaries in form, scope and substance satisfactory to Agent and the Lenders, and (ii) appraisals, in form, scope and substance satisfactory to Agent and satisfying the requirements of any applicable laws and regulations, concerning the value of any Real Property Assets constituting Closing Date Mortgaged Properties (in each case to the extent required under such laws and regulations as determined by Agent in its sole discretion) and the value of machinery and equipment, tools and Intellectual Property of Borrower and its Subsidiaries designated by Agent.
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Collateral Audits and Appraisals. Administrative Agent shall have received audits of the Accounts of Company and its Subsidiaries in form, scope and substance satisfactory to Administrative Agent.
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Collateral Audits and Appraisals. Agent shall have received (i) a final collateral audit report of all Inventory and Accounts of the Borrowers and their Subsidiaries, including the accounts payable and management information systems of the Borrowers and their Subsidiaries, in form, scope and substance satisfactory to the Agent and performed by auditors satisfactory to the Agent and (ii) final appraisal reports concerning the Net Orderly Liquidation Value of the Inventory and of the Real Estate of the Borrowers and their Subsidiaries, in form, scope and substance satisfactory to the Agent and performed by appraisers satisfactory to the Agent.
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Collateral Audits and Appraisals. Agent shall have received (i) audits and appraisals of the Inventory and Accounts of Borrowers and their Restricted Subsidiaries in form, scope and substance satisfactory to Agents, (ii) appraisals, in form, scope and substance satisfactory to Agents concerning the value of PPE Collateral of Borrowers and their Restricted Subsidiaries designated by Agent, and (iii) such reviews and/or valuations of the business operations of Borrowers and their Subsidiaries to the extent required by Agents, such reviews and valuations to be in form, scope and substance satisfactory to Agents.
Sample 1
Collateral Audits and Appraisals. Borrowers shall (a) cooperate with Bank in order to enable Bank (or its designee) to conduct such audits of Borrowers’ books and records and the Collateral as Bank may reasonably request from time to time, and to obtain such appraisals of the Properties as Bank may reasonably request from time to time, (b) pay Bank a fee of $1,100 per day, per auditor, plus out-of-pocket expenses, for each such audit performed by personnel employed or contracted by Bank, and (c) reimburse Bank for its out of pocket costs incurred in connection with each such appraisal requested by Bank; provided, that, (i) there would be no more than four such reimbursable audits during any calendar year, (ii) there would be no more than one such reimbursable appraisal of each Property during any calendar year, (iii) any audit or appraisal that is initiated while a Default exists shall not count against such limitations, and (iv) nothing contained herein shall limit Bank’s right to conduct audits and obtain appraisals (at its own cost) on a more frequent basis. BANK EXPENSES. Borrowers shall reimburse Bank for all (a) costs and expenses (including taxes and insurance premiums) required to be paid by Borrowers under any of the Loan Documents that are paid or incurred by Bank, (b) reasonable fees and charges paid or incurred by Bank in connection with this Agreement, including fees and charges for filing and search fees, recording of Loan Documents, real estate title policies and endorsements, collateral audits and appraisals (subject to the limitations described above), real estate consultants engaged by Bank, and background investigations of Borrowers’ key management, (c) reasonable costs and expenses paid or incurred by Bank to correct any Default or enforce any provision of the Loan Documents, or in gaining possession of, maintaining, handling, preserving, selling, preparing for sale, or advertising to sell the Collateral, or any portion thereof, irrespective of whether a sale is consummated, (d) reasonable costs and expenses of third party claims or any other suit paid or incurred by Bank in enforcing or defending the Loan Documents or in connection with the transactions contemplated by the Loan Documents, (e) Bank's reasonable fees and expenses (including reasonable attorneys’ fees) incurred in structuring, drafting, administering, or amending the Loan Documents, and (f) Bank's reasonable fees and expenses (including reasonable attorneys’ fees) incurred in terminating, enforcing (inclu...
Sample 1
Collateral Audits and Appraisals. The Administrative Agent shall have received a borrowing base audit with respect to the relevant Collateral to be included in the Borrowing Base and the relevant accounting systems, policies and procedures of the Acquired Business by an auditing firm satisfactory to the Administrative Agent in form and substance satisfactory to the Administrative Agent, and a roll-forward of the borrowing base audits with respect to the relevant Collateral to be included in the Borrowing Base through the month ended February 28, 2010.
Sample 1
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Collateral Audits and Appraisals. Agent shall have received audits of the Inventory and Accounts of Company and its Subsidiaries in form, scope and substance reasonably satisfactory to Agent and the Lenders.
Sample 1

Related to Collateral Audits and Appraisals

  • Collateral Audits Permit the Bank or its agents to perform audits of the Collateral. The Borrower shall compensate the Bank for such audits in accordance with the Bank's schedule of fees as amended from time to time.

  • Inspections and Appraisals At all times during normal business hours, Laurus, and/or any agent of Laurus shall have the right to (a) have access to, visit, inspect, review, evaluate and make physical verification and appraisals of each Company’s properties and the Collateral, (b) inspect, audit and copy (or take originals if necessary) and make extracts from each Company’s Books and Records, including management letters prepared by the Accountants, and (c) discuss with each Company’s directors, principal officers, and independent accountants, each Company’s business, assets, liabilities, financial condition, results of operations and business prospects. Each Company will deliver to Laurus any instrument necessary for Laurus to obtain records from any service bureau maintaining records for such Company. If any internally prepared financial information, including that required under this Section is unsatisfactory in any manner to Laurus, Laurus may request that the Accountants review the same.

  • Collateral Audit The Administrative Agent shall have completed an initial collateral audit on or prior to the Closing Date.

  • Appraisals An appraisal of the related Mortgaged Property was conducted in connection with the origination of the Mortgage Loan, which appraisal is signed by an appraiser, who, to the Mortgage Loan Seller's knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Borrower or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan; in connection with the origination of the Mortgage Loan, each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the "Uniform Standards of Professional Appraisal Practice" as adopted by the Appraisal Standards Board of the Appraisal Foundation.

  • Inspections; Appraisals (a) Permit Agent from time to time, subject (except when a Default or Event of Default exists) to reasonable notice and normal business hours, to visit and inspect the Properties of any Borrower or Subsidiary, inspect, audit and make extracts from any Borrower’s or Subsidiary’s books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Borrower’s or Subsidiary’s business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to any Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with any Borrower. Borrowers acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Borrowers shall not be entitled to rely upon them.

  • Real Estate Appraisals Company shall, and shall cause each of its Subsidiaries to, permit an independent real estate appraiser reasonably satisfactory to Administrative Agent, upon reasonable notice, to visit and inspect any Additional Mortgaged Property for the purpose of preparing an appraisal of such Additional Mortgaged Property satisfying the requirements of any applicable laws and regulations (in each case to the extent required under such laws and regulations as determined by Administrative Agent in its discretion).

  • Updated Appraisals For so long as the Loan remains outstanding, if any Event of Default shall occur hereunder, or if, in Lender’s judgment, a material depreciation in the value of the Land and/or the Improvements shall have occurred, then in any such event, Lender, may cause the Land and Improvements to be appraised by an appraiser selected by Lender, and in accordance with Lender’s appraisal guidelines and procedures then in effect, and Borrower agrees to cooperate in all respects with such appraisals and furnish to the appraisers all requested information regarding the Land and Improvements and the Facility. Borrower agrees to pay all reasonable costs incurred by Lender in connection with such appraisal which costs shall be secured by the Mortgage and shall accrue interest at the Default Rate until paid.

  • Financial Examination and Appraisal Fees Bank's customary fees and out-of-pocket expenses for Bank's audits of Borrower's Accounts, and for each appraisal of Collateral and financial analysis and examination of Borrower performed from time to time by Bank or its agents;

  • Environmental Audits From time to time, as requested by Lender, at the sole expense of Borrower, Borrower shall provide Lender, or its designee, complete access to all of Borrower's facilities for the purpose of conducting an environmental audit of such facilities as Lender or its designees may deem necessary. Borrower agrees to cooperate with Lender with respect to any environmental audit conducted by Lender or its designee pursuant to this Section 5.10.

  • Environmental Audit If required by the Administrative Agent, reports and other information in form, scope and substance satisfactory to the Administrative Agent and prepared by environmental consultants satisfactory to the Administrative Agent, concerning any environmental hazards or liabilities to which any Credit Party may be subject with respect to such Additional Mortgaged Property; and

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