Collateral Audits. Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at Borrower’s expense, provided that such audits will be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Loan and Security Agreement (Applied Optoelectronics, Inc.), Loan and Security Agreement (Applied Optoelectronics, Inc.), Loan and Security Agreement (Applied Optoelectronics, Inc.)
Collateral Audits. Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise the Collateral at Borrower’s expense, provided that such audits and appraisals will be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Loan and Security Agreement (Intelepeer Inc), Loan and Security Agreement (Force10 Networks Inc)
Collateral Audits. Bank shall have a right from time to time hereafter to audit Borrower’s Accounts and appraise Collateral at Borrower’s expense, provided that such audits will be conducted no more often than twice once every twelve months unless an Event of Default has occurred and is continuing.
9. Section 6.4 of the Agreement is amended in its entirety to read as follows:
Appears in 2 contracts
Samples: Loan and Security Agreement (Applied Optoelectronics, Inc.), Loan and Security Agreement (Applied Optoelectronics, Inc.)
