Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, but not in excess of 2 times each calendar year. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
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Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, but not in excess of 2 times one time each calendar year. In the event the Borrower is in default, collateral audits may be performed more frequently than once per calendar year. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
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Samples: Credit Agreement (Biosensor Corp)
Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, but not in excess of 2 times each calendar yearrequired. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
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Samples: Term Loan and Credit Agreement (Industrial Rubber Products Inc)
Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, require but not in excess of 2 times each one time per calendar year. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
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Samples: Credit Agreement (Medamicus Inc)
Collateral Audits. Permit the Bank to conduct audits of all collateral pledged to the Bank by the Borrower at such intervals as the Bank may reasonably require, but not in excess of 2 two times each calendar year. The audits may be performed by employees of the Bank or independent contractors retained by the Bank.
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