Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent: (i) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and (ii) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time. (b) If any Loan Party’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing. (c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 2 contracts
Sources: Loan and Security Agreement (ADS Tactical, Inc.), Loan and Security Agreement (ADS Tactical, Inc.)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly regular basis (A) as required by Lender, a Borrowing Base Certificateschedule of Accounts, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received; (b) on a monthly basis within 20 days after each month end or more frequently as Lender may request, as well as purchases made; and
(i) perpetual inventory reports reconciled to the financial statement for such month, (ii) inventory reports by category including details of reground inventory, inventory held to be reground, inventory unsold within 120 days of completion and inventory which is subject to a Buy Back Agreement as defined in Section 1.15 of this Agreement; (iii) agings of accounts payable and accrued liabilities reconciled against the financial statements for such month, including a segregated aged listing of accounts receivable in respect of final billed tooling, and (iv) a report providing an analysis of finished goods versus purchase orders, (c) upon Lender's request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower; (d) agings of accounts receivable, reconciled against the financial statements for each month, provided on a monthly basis, on a monthly basis within 20 days after each month end or more frequently as Lender may request; and (e) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 2 contracts
Sources: Loan Agreement (G G S Plastic Engineering Inc), Loan Agreement (G G S Plastic Engineering Inc)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(a) on a regular basis as required by Lender, a schedule of Accounts identifying Accounts based upon maintenance services, product sales and licensing, sales made, credits issued, cash received and any pre-billed Accounts;
(b) on a daily basis:
(i) perpetual inventory reports identifying "Qualified Merchandise" (as soon as available after defined in the end NationsCredit Intercreditor Agreement), and
(ii) inventory reports by category;
(c) on or before the fifth Business Day of each month month, a calculation of the value of Inventory that is not Eligible Inventory;
(but in any event within ten (10d) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificateor more frequently as Lender may request, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable and accounts receivable;
(e) upon Lender's request:
(i) copies of customer statements and including information indicating the amounts owing to owners credit memos, remittance advices and lessors reports, and copies of leased premisesdeposit slips and bank statements,
(ii) copies of shipping and delivery documents, warehousesand
(iii) copies of purchase orders, processors invoices and other third parties from time to time in possession of any Collateral) delivery documents for Inventory and (D) schedules of sales made, credits issued and cash received, as well as purchases madeEquipment acquired by Borrower; and
(iif) such other reports as to the Collateral or other property which is security for the Obligations as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral or other property which is security for the Obligations are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 2 contracts
Sources: Loan and Security Agreement (Wareforce Com Inc), Loan and Security Agreement (Wareforce Com Inc)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(i) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory inventory reports and Inventory inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(ii) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) If any Loan Party’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 2 contracts
Sources: Loan and Security Agreement (ADS Tactical, Inc.), Loan and Security Agreement (ADS Tactical, Inc.)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly regular basis (A) as required by Lender, a Borrowing Base Certificateschedule of Accounts, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received; (b) on a monthly basis within 15 days after each month or more frequently and within such time periods as Lender may request, as well as purchases made; and
(i) inventory reports by category, (ii) agings of accounts receivable, and (iii) agings of accounts payable, (c) on a weekly basis on the first Business Day following each week or more frequently and within such time periods as Lender may request perpetual inventory reports (c) upon Lender's request, (i) copies of credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower; and (d) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis as required by the Administrative Agent, within thirty (A30) days of each month end (increasing to a weekly basis within three (3) days of each week end during any period a Trigger Event is continuing), (i) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports supported by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings a roll-forward of accounts receivable (together and inventory, with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premisessupporting details in electronic form, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(ii) aged accounts receivable listing, (iii) perpetual inventory reports, (iv) journals, copies of invoices, shipping documents and such other supporting documentation as deemed necessary by the Administrative Agent; and (b) on a monthly basis as required by the Administrative Agent, within thirty (30) days of month end, (i) a Borrowing Base Certificate as of month end with roll forward of accounts receivable and inventory from the prior month end, (ii) aged accounts receivable listing, (iii) aged accounts payable listing, (iv) perpetual inventory reports, (v) trial balance, (vi) reconciliation of accounts receivable and inventory to the Borrowing Base Certificate, trial balance and financial statements, (vii) listing of accruals, (viii) journals, sales invoices, credit or debit memos, shipping documents, and such other reports as to the Collateral as deemed necessary by the Administrative Agent shall reasonably request from time to time.
(b) Agent. If any Loan Partyof the Borrower’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party the Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan Agreement (Andersons, Inc.)
Collateral Reporting. (a) The Administrative Upon Agent's request, Borrower shall promptly provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(i) on a daily basis with a schedule of Accounts, collections received and credits issued;
(ii) on a weekly roll forward basis, inventory reports with respect to finished bottles;
(iii) as soon as available possible after the end of each month (but in any event within ten fifteen (1015) Business Days after the end thereof), on a monthly basis or more frequently as Agent may request, (A) a Borrowing Base Certificateperpetual inventory reports, (B) perpetual Inventory reports and Inventory inventory reports by location and category (and including the amounts of Inventory and the Value value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s 's aging and general ledger) and (D) agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral);
(iv) (A) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (B) copies of shipping and delivery documents, and (DC) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases made; anddelivery documents for Inventory and Equipment acquired by Borrower;
(iiv) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, reports and related documents to the Administrative Agent and to follow the Administrative Agent’s 's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Anchor Glass Container Corp /New)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) weekly basis, a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts schedule of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales madeAccounts, credits issued and cash received, except that, if Borrower fails to maintain Excess Availability of $2,000,000, then Borrower shall deliver a schedule of Accounts, credits issued and cash received on a daily basis; (b) on a weekly basis, inventory reports by category, including cost, quantity and grades of Borrower's inventory, except that, if Borrower fails to maintain Excess Availability of $2,000,000, then Borrower shall deliver such inventory reports on a daily basis; (c) on a monthly basis or more frequently as well as purchases made; and
Lender may request, (i) perpetual inventory reports and (ii) agings of accounts payable; (d) upon Lender's request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory acquired by Borrower; (e) agings of accounts receivable on a monthly basis or more frequently as Lender may request; and (f) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Seven Seas Steamship Co Nv)
Collateral Reporting. (a) The Administrative Borrower Borrowers shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(i) on a weekly basis, schedules of sales made, credits issued and cash received, together with a certificate of the Borrowing Base;
(ii) as soon as available possible after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis or more frequently as Agent may request, (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) which shall identify the copyright titles whose sale generated each account receivable or portion thereof and (B) agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral);
(iii) upon Agent’s request, (A) copies of customer statements, purchase orders, sales invoices, credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (B) copies of shipping and delivery documents, (C) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by any Borrower or Guarantor, (D) schedules perpetual inventory reports, and (E) inventory reports by location and category (and including the amounts of sales madeInventory and the value thereof at any leased locations and at premises of warehouses, credits issued and cash received, as well as purchases made; andprocessors or other third parties);
(iiiv) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) If any Loan PartyBorrower’s or Guarantor’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower and Guarantor hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Image Entertainment Inc)
Collateral Reporting. (a) The Administrative Borrower Borrowers shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(i) as soon as available possible after the end of each week (but in any event by each Wednesday after the end thereof), on a weekly basis or more frequently as Lender may request at any time that the aggregate amount of the Excess Availability of Borrowers is less than $7,500,000 or a Default or Event of Default shall exist or have occurred, schedules of sales made, credits issued and cash received;
(ii) as soon as possible after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis or more frequently as Lender may request at any time that the aggregate amount of the Excess Availability of Borrowers is less than $7,500,000 or a Default or Event of Default shall exist or have occurred, (A) a Borrowing Base Certificateperpetual inventory reports, (B) perpetual Inventory reports and Inventory inventory reports by location and category (and including the amounts of Inventory and the Value book value thereof at at, any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable and (together with a reconciliation to the previous month’s aging and general ledgerD) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral);
(iii) upon Lender's request, (A) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (B) copies of shipping and delivery documents, and (DC) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases made; anddelivery documents for Inventory and Equipment acquired by any Borrower or Guarantor;
(iiiv) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) If any Loan Party’s Borrower's or Guarantor's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower and Guarantor hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(a) on a regular basis as required by Lender, a schedule of Accounts, including without limitation, daily sales, credit and adjustment journals and cash receipts;
(b) on or before the tenth (10th) day after and as of the end of each month, (or more frequently as Lender may request), (i) perpetual inventory reports, (ii) inventory reports by category and (iii) agings of accounts payable,
(c) upon Lender's request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower;
(d) agings of accounts receivable on or before the tenth (10th) day after and as soon as available after of the end of each month or more frequently as Lender may request;
(but e) upon Lender's request, Borrower shall, at its expense, no more than once in any event within ten twelve (1012) Business Days after the end thereof)month period, on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof but at any leased locations and at premises time or times as Lender may request on or after an Event of warehousesDefault, processors deliver or other third parties), (C) agings of accounts receivable (together with a reconciliation cause to be delivered to Lender written reports or appraisals as to the previous month’s aging Collateral in form, scope and general ledger) methodology acceptable to Lender and agings of accounts payable (and including information indicating the amounts owing by an appraiser acceptable to owners and lessors of leased premisesLender, warehouses, processors and other third parties from time addressed to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases madeLender or upon which Lender is expressly permitted to rely; and
(iif) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan Agreement (Iomega Corp)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (i) a)on a daily basis as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof)required by Lender, on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules schedule of sales made, credits issued and cash receivedreceived;(b) on a weekly basis or more frequently as Lender may request, perpetual inventory reports and inventory reports by division (including Video Inventory and DNA) and by category, including, without limitation, any inventory which is subject to any consignment arrangements;(c) on a monthly basis or more frequently as well as purchases made; andLender may request,
(iii) agings of accounts receivable, together with a schedule of all returns, discounts, claims, credits, chargebacks and allowances of any nature issued, owing, granted, outstanding, available or claimed with respect to such accounts receivable, (ii)agings of accounts payable, (iii) a schedule of all outstanding loans and advances to Designated Vendors (as defined in Section 9.10(b)(ii));(d) upon Lender's request,(i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements,(ii) copies of shipping and delivery documents, (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower, and (iv) a schedule of all loans and advances referenced under Section 9.10(a)(ii) hereof; and (e) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) on a daily or other regular basis as soon required by Lender, a report of sales, credits and collections and a report of Inventory by location; (b) on a weekly basis or more frequently as available after the end of each month Lender may request, inventory reports by category; (but in any event within ten (10c) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificateor more frequently as Lender may request, (Bi) perpetual Inventory inventory reports and Inventory reports by location (ii) agings of accounts payable; (d) upon Lender's request, (i) copies of customer statements and category credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and including the amounts delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), Equipment acquired by Borrower; (Ce) agings of accounts receivable on a weekly basis or more frequently as Lender may request; (together with f) on a weekly or other regular basis as required by Lender, a report of amounts paid by and due from charge, credit, and debit card issuers and sale processors, including a reconciliation to the previous month’s aging of reserves, holdbacks, and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) chargebacks; and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(iig) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(a) on a regular basis as required by Lender, a schedule of Accounts, including without limitation, daily sales, credit and adjustment journals and cash receipts;
(b) on or before the 5th day after and as of the end of each week, (i) perpetual inventory reports, and (ii) inventory reports by category;
(c) upon Lender's request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower;
(d) on or before the 10th day after and as soon as available after of the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third partiesmore frequently as Lender may request), (Ci) agings of accounts receivable receivable, and (together with a reconciliation to the previous month’s aging and general ledgerii) and agings of accounts payable payable;
(e) upon Lender's request, Borrower shall, at its expense, no more than once in any twelve (12) month period, but at any time or times as Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as to the Collateral in form, scope and including information indicating the amounts owing methodology acceptable to owners Lender and lessors of leased premisesby an appraiser acceptable to Lender, warehouses, processors and other third parties from time addressed to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases madeLender or upon which Lender is expressly permitted to rely; and
(iif) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(i) on a regular basis as required by Lender, a schedule of sales made, credits issued and cash received;
(ii) as soon as available possible after the end of each week (but in any event by each Wednesday after the end thereof), on a weekly basis or more frequently as Lender may request in good faith, (A) perpetual inventory reports, (B) inventory reports by location and category (including identifying Inventory at locations owned and operated by third parties or on consignment), and (C) agings of accounts receivable (together with a reconciliation to the previous month's aging and general ledger);
(iii) as soon as possible after the end of each month (but in any event within ten (10) Business Days days after the end thereof), on a monthly basis (A) a Borrowing Base Certificateor more frequently as Lender may request in good faith, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing status of payments to owners and lessors of the leased premisespremises of Borrower);
(iv) upon Lender's request, warehouses(A) copies of customer statements and credit memos, processors remittance advices and other third parties from time to time in possession reports, and copies of any Collateraldeposit slips and bank statements, (B) copies of shipping and delivery documents, and (DC) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases made; anddelivery documents for Inventory and Equipment acquired by Borrower;
(iiv) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.; and
(b) If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower Borrowers or Borrowers' Agent shall provide the Administrative Lenders' Agent with the following documents with respect to each Borrower or itemized by Borrower, in a form satisfactory to the Administrative AgentLenders' Agent and Lenders:
(a) on a regular basis as required by Lenders' Agent, a schedule of Accounts; (b) on the following periodic bases or, after the occurrence and during the continuance of an Event of Default, more frequently as Lenders' Agent may request, (i) monthly perpetual Inventory reports, (ii) monthly reports of all Inventory by category, (iii) weekly reports of finished goods Inventory, and (iv) monthly agings of accounts payable, (c) upon reasonable request by Lenders' Agent, and at all times upon request by Lenders' Agent after the occurrence and during the continuance of an Event of Default, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory acquired by each Borrower; (d) agings of accounts receivable on a monthly basis or more frequently as Lenders' Agent may request; and (e) such other reports as to the Collateral as Lenders' Agent shall reasonably request from time to time. In the case of those of the foregoing reports that are to be delivered on a monthly basis, such reports shall be delivered as soon as available after practicable following the end of each month (fiscal month, but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous such month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(ii) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) . If any Loan Party’s Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Lenders' Agent and to follow the Administrative Agent’s instructions from Lenders' Agent with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(i) on a weekly basis (or more frequently as Agent may request), schedules of sales made, credits issued and cash received;
(ii) as soon as available possible after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis or more frequently as Agent may request, (A) a Borrowing Base Certificateperpetual inventory reports, (B) perpetual Inventory reports and Inventory inventory reports by location and category (and including the amounts of Inventory and the Value value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) reports setting forth Inventory on hand in excess of demand and Inventory on hand greater than 180 days from the date of purchase; (D) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and (E) agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral);
(iii) upon Agent’s request, (A) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (B) copies of shipping and delivery documents, and (DC) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases made; anddelivery documents for Inventory and Equipment acquired by Borrower;
(iiiv) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) If any Loan PartyBorrower’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Reptron Electronics Inc)
Collateral Reporting. (a) The Administrative Each Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) on a weekly basis or other regular basis as soon as available after the end of each month required by Lender, a borrowing base report, which shall be in form, substance and detail satisfactory to Lender, (but in any event within ten (10b) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificateor more frequently as Lender may request, (Bi) perpetual Inventory reports and Inventory inventory reports, (ii) inventory reports by location category and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (Ciii) agings of accounts receivable payable and accounts receivable, (together with a reconciliation to the previous month’s aging c) upon Lender's request, (i) copies of customer statements and general ledgercredit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premisesdelivery documents, warehouses, processors and other third parties from time to time in possession of any Collateral) and (Diii) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases madedelivery documents for Inventory acquired by Central or Jersey; and
and (iid) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . At any time that Excess Availability is less than $5,000,000, Lender shall have the right to require the foregoing documents and reports to be provided to it on a more frequent basis determined by Lender. If any Loan Party’s of a Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly regular basis (A) as required by Lender, a Borrowing Base Certificateschedule of Accounts, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received; (b) on a monthly basis within twenty (20) days after each month end or more frequently as Lender may request, as well as purchases made; and
(i) perpetual inventory reports, (ii) inventory reports by category, including a separate itemized detailed breakdown of all Inventory that is in transit, (iii) agings of accounts payable and (iv) a Royalty Reserve Report, (c) upon Lender’s request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower and MCE; (d) agings of accounts receivable on a monthly basis within twenty (20) days after each month end or more frequently as Lender may request; (e) no later than thirty (30) days after the end of each fiscal year of Borrower, financial projections for the next fiscal year, prepared on a monthly basis; and (f) such other reports as to the Collateral as the Administrative Lender or US Collateral Agent shall reasonably request from time to time.
(b) . If any Loan Partyof Borrower’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative AgentLender’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuingexists.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly regular basis (A) as required by Lender, a Borrowing Base Certificateschedule of Accounts, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received; (b) on a monthly basis or more frequently as Lender may request, perpetual inventory reports, and agings of accounts payable; (c) upon Lender's request, copies of customer statements and credit memos, remittance advices and reports, copies of deposit slips and bank statements, copies of shipping and delivery documents, and copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower; (d) on a monthly basis or more frequently as well as purchases madeLender may request, an aging of Accounts; and
(iie) on a weekly and monthly basis, a report of Inventory broken down by raw materials (based on a physical count and including pulp, latex, chemicals, inks, dyes, foam, and any other physically counted raw materials), work in progress and finished goods (including aging of finished goods); (f) on a monthly basis, commencing March 20, 2000, an aging of finished goods Inventory; (g) weekly listing of held checks; and (h) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(ia) on a regular basis as soon required by Lender, a schedule of Accounts, including without limitation, daily sales, credit and adjustment journals and cash receipts;
(b) on or before the 10th day after and as available after of the end of each month month, (but in any event within ten (10) Business Days after the end thereofor more frequently as Lender may request), on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable and accounts receivable.
(c) upon Lender's request, (i) copies of customer statements and including information indicating the amounts owing to owners credit memos, remittance advices and lessors reports, and copies of leased premisesdeposit slips and bank statements, warehouses(ii) copies of shipping and delivery documents, processors and other third parties from time to time in possession of any Collateral) and (Diii) schedules copies of sales madepurchase orders, credits issued invoices and cash receiveddelivery documents for Inventory and Equipment acquired by Borrower;
(d) within two days after and as of the last day of each week, perpetual inventory reports;
(e) upon Lender's request made in Lender's good faith judgment that a report or appraisal is appropriate, Borrower shall (at its expense no more than once in any twelve (12) month period) but at any time or times as well Lender may request on or after an Event of Default, deliver or cause to be delivered to Lender written reports or appraisals as purchases madeto the Collateral in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender, addressed to Lender or upon which Lender is expressly permitted to rely; and
(iif) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly regular basis (A) as required by Lender, a Borrowing Base Certificateschedule of Accounts, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received; (b) on a monthly basis within twenty (20) days after each month end or more frequently as Lender may request, as well as purchases made; and
(i) perpetual inventory reports, (ii) inventory reports by category, including a separate itemized detailed breakdown of all Inventory that is in transit, (iii) agings of accounts payable and (iv) a Royalty Reserve Report, (c) upon Lender’s request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower; (d) agings of accounts receivable on a monthly basis within twenty (20) days after each month end or more frequently as Lender may request; (e) not less than sixty (60) days prior to the end of each fiscal year of Borrower, financial projections for the next fiscal year, prepared on a monthly basis; and (f) such other reports as to the Collateral as the Administrative Lender or US Collateral Agent shall reasonably request from time to time.
(b) . If any Loan Partyof Borrower’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative AgentLender’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuingexists.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative AgentLender:
(i) on a regular basis as required by Lender, a schedule of sales made, credits issued and cash received;
(ii) as soon as available possible after the end of each month (but in any event within ten thirty (1030) Business Days days after the end thereof), on a monthly basis or more frequently as Lender may request, (A) a Borrowing Base Certificateperpetual inventory reports, (B) perpetual Inventory reports and Inventory inventory reports by location and category (and including the amounts amount of Inventory and the Value value thereof at any leased locations and at premises of warehouses, processors or other third partiesparties “from time to time in possession of any Collateral”), (C) agings of accounts payable (and including information indicating the status of payments to owners and lessors of the leased premises of Borrower (and including the amount of Inventory and the value thereof at any leased locations and at premises of warehouses, processors or other third parties “from time to time in possession of any Collateral”) and (D) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger);
(iii) upon Lender’s request, (A) copies of customer statements and agings credit memos, remittance advices and reports, and copies of accounts payable deposit slips and bank statements, (B) copies of shipping and including information indicating the amounts owing to owners and lessors of leased premisesdelivery documents, warehouses, processors and other third parties from time to time in possession of any Collateral) and (DC) schedules copies of sales madepurchase orders, credits issued invoices and cash received, as well as purchases made; anddelivery documents for Inventory and Equipment acquired by Borrower;
(iiiv) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.; and
(b) If any Loan Partyof Borrower’s records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative AgentLender’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (a) on a daily basis, a schedule of sales made, credits issued and cash received; (b) on a weekly basis or more frequently as Lender may request, (i) as soon as available after the end of each month perpetual inventory reports, and (but in any event within ten ii) inventory reports by location, class and category; (10c) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificateor more frequently as Lender may request, (Bi) perpetual Inventory reports and Inventory reports by location and category (and including the amounts agings of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties)accounts payable, (Cii) agings of accounts receivable (together with a reconciliation to the previous month’s 's aging and general ledger), (iii) reports of core return eligibility status by customer, units and agings dollars, with respect to customers representing Borrower's seven (7) largest customers ranked by sales volume and customers constituting more than ten percent (10%) of accounts payable Eligible Accounts as of the date hereof, for the previous twenty-four (24) or twelve (12) month period, as applicable in connection with such customer's Core Return and including information indicating the amounts owing to owners and lessors of leased premisesStock Adjustment Policies (with an acknowledgment from any such customer if requested by Lender), warehouses, processors and other third parties from time to time in possession of any Collateral) and (Div) schedules copies of sales madecore bank statements; (d) upon Lender's request, credits issued (i) copies of customer statements and cash receivedcredit memos, as well as purchases made; and
remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower; and (e) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
; provided, however, that so long as no Event of Default and no event or condition which, with notice or the passage of time or both, would constitute an Event of Default, shall exist, Borrower shall be liable for the cost and expense of no more than four (b4) collateral audits in any twelve (12) month period. If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(ia) on or before the tenth (10th) day after and as soon as available after of the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) a Borrowing Base Certificatemonth, (B) perpetual Inventory reports and Inventory reports by location and category (and including or more frequently as the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third partiesAgent may request), (Ci) perpetual inventory reports, (ii) inventory reports by category and (iii) agings of accounts receivable payable,
(together with a reconciliation b) upon the Agent's reasonable request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, and (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrower;
(c) upon the Agent's request, Borrower shall, at its expense, no more than once in any eighteen (18) month period, but at any time or times as the Agent may request on or after an Event of Default, deliver or cause to be delivered to the previous month’s aging Agent written reports or appraisals as to the Collateral in form, scope and general ledger) methodology acceptable to the Agent and agings of accounts payable (by an appraiser acceptable to the Agent, addressed to the Agent and including information indicating the amounts owing Lenders or upon which the Agent and the Lenders are expressly permitted to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) and (D) schedules of sales made, credits issued and cash received, as well as purchases maderely; and
(iid) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrower hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s 's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan Agreement (Good Guys Inc)
Collateral Reporting. (a) The Administrative Borrower shall provide the Administrative Agent with the following documents at the following times in a form satisfactory to the Administrative Agent:
: (ia) as soon as available after the end of each month (but in any event within ten (10) Business Days after the end thereof), on a monthly basis (A) weekly basis, or more frequently if reasonably requested by the Agent, a schedule of the Borrower's Accounts created since the last such schedule and a Borrowing Base Certificate; (b) on a monthly basis, by the twentieth (B20th) perpetual Inventory reports and Inventory reports day of the following month, or more frequently if reasonably requested by location and category (and including the amounts Agent, an aging of Inventory and the Value thereof at any leased locations and at premises of warehousesBorrower's Accounts, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation to the previous month’s 's aging of the Borrower's Accounts and to the Borrower's general ledger; (c) on a monthly basis by the twentieth (20th) day of the following month, or more frequently if reasonably requested by the Agent, a report itemizing Extended Term Accounts in a manner and agings with detail acceptable to the Agent; (d) on a monthly basis by the twentieth (20th) day of the following month, or more frequently if requested by the Agent, an aging of the Borrower's accounts payable payable; (e) on a monthly basis by the twentieth (20th) day of the following month (or more frequently if requested by the Agent), Inventory reports by category and including information indicating location, with additional detail showing additions to and deletions from the amounts owing Inventory, together with a reconciliation to owners the Borrower's general ledger; (f) upon reasonable request, while no Event of Default exists and lessors at any time or times while a Default or an Event of leased premisesDefault exists, warehousescopies of invoices in connection with the Borrower's Accounts, processors customer statements, credit memos, remittance advices and other third parties from reports, deposit slips, shipping and delivery documents in connection with the Borrower's Accounts and for Inventory acquired by the Borrower, purchase orders and invoices; (g) upon reasonable request, while no Event of Default exists, and at any time to time in possession or times while a Default or an Event of any Collateral) and Default exists, a statement of the balance of each of the Intercompany Accounts; (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(iih) such other reports as to the Collateral of the Borrower as the Administrative Agent shall reasonably request from time to time.
; and (bi) with the delivery of each of the foregoing, a certificate of the Borrower executed by an officer thereof certifying as to the accuracy and completeness of the foregoing. If any Loan Party’s of the Borrower's records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper service or other agent, such Loan Party the Borrower hereby irrevocably authorizes such service, contractor, shipper service or agent to deliver such records, reports, and related documents to the Administrative Agent and Agent, for distribution to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuingLenders.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Anchor Glass Container Corp /New)
Collateral Reporting. (a) The Administrative Borrower Borrowers shall provide the Administrative Agent Lender with the following documents in a form satisfactory to the Administrative Agent:
Lender: (a) on a weekly basis or, if Excess Availability falls below $10,000,000 or an Event of Default exists or has occurred and is continuing, or an event has occurred or state of facts exists that would, with notice or passage of time, or both, constitute an Event of Default, more frequently as Lender may request, (i) perpetual Inventory reports at Cost for distribution center(s) and retail stores by category (including, separately, return-to- vendor Inventory and other Inventory, in each case by product categories), (ii) reports of sales of Inventory, indicating net sales, (iii) reports of aggregate Inventory purchases (including all costs related thereto, such as freight, duty and taxes), (iv) reports of markdowns taken with respect to Inventory in Borrowers' retail stores, and (v) reports of consigned inventory or inventory on approval in Borrowers' possession; (b) on a monthly basis or, if Excess Availability falls below $10,000,000 or an Event of Default exists or has occurred and is continuing, or an event has occurred or state of facts exists that would, with notice or passage of time, or both, constitute an Event of Default, more frequently as Lender may request, (i) agings of accounts payable, and (ii) a schedule of Accounts, credits and collections; (c) upon Lender's request, (i) copies of customer statements and credit memos, remittance advices and reports, and copies of deposit slips and bank statements, (ii) copies of shipping and delivery documents, (iii) copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrowers, (iv) reports by retail store location of sales and operating profits for each such retail store location and (v) reports on sales and use tax collections, deposits and payments, including monthly sales and use tax accruals; (d) as soon as available after the end of each month (available, but in any event within ten not later than five (105) Business Days after receipt by Borrowers, the end thereof)monthly statements received by Borrowers from any Credit Card Issuers or Credit Card Processors, on a monthly basis (A) a Borrowing Base Certificate, (B) perpetual Inventory reports and Inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties), (C) agings of accounts receivable (together with a reconciliation such additional information with respect thereto as shall be sufficient to enable Lender to monitor the transactions pursuant to the previous month’s aging and general ledger) and agings of accounts payable (and including information indicating the amounts owing to owners and lessors of leased premises, warehouses, processors and other third parties from time to time in possession of any Collateral) Credit Card Agreements; and (D) schedules of sales made, credits issued and cash received, as well as purchases made; and
(iie) such other reports as to the Collateral as the Administrative Agent Lender shall reasonably request from time to time.
(b) . If any Loan Party’s of Borrowers' records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrowers hereby irrevocably authorizes authorize such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent Lender and to follow the Administrative Agent’s Lender's instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract
Sources: Loan and Security Agreement (Trans World Entertainment Corp)
Collateral Reporting. (a) The Administrative Borrower Borrowers shall provide the Administrative Agent with the following documents in a form satisfactory to the Administrative Agent:
(i) on a weekly basis or more frequently as soon as available after the end required by Lender, (A) a schedule of sales made, credits issued and cash received, and (B) each month Due From Factor Report, together with copies of all data and other information requested by Agent from which each such Due From Factor Report is derived.
(but in any event within ten (10ii) Business Days after the end thereof), on a monthly basis or more frequently as Lender may request, (A) a report detailing the calculation of the Borrowing Base Certificatecertified by the chief financial officer of Delta or an authorized designee thereof, in form and substance satisfactory to Agent, (B) perpetual Inventory reports and Inventory inventory reports, (C) inventory reports by location and category (and including the amounts of Inventory and the Value thereof at any leased locations and at premises of warehouses, processors or other third parties)category, (CD) agings of accounts payable, and (E) agings of accounts receivable (together with a reconciliation to the previous month’s aging and general ledger)
(iii) upon Agent’s request, (A) copies of customer statements and agings credit memos, remittance advices and reports, and copies of accounts payable deposit slips and bank statements, (B) copies of shipping and including information indicating the amounts owing to owners and lessors of leased premisesdelivery documents, warehouses, processors and other third parties from time to time in possession of any Collateral) and (DC) schedules copies of purchase orders, invoices and delivery documents for Inventory and Equipment acquired by Borrowers;
(iv) reports detailing any sales made, credits issued and cash received, as well as purchases madeor transfers of Equipment or Real Property during the prior month; and
(iiv) such other reports as to the Collateral as the Administrative Agent shall reasonably request from time to time.
(b) If any Loan Party’s of Borrowers’ records or reports of the Collateral are prepared or maintained by an accounting service, contractor, shipper or other agent, such Loan Party Borrowers hereby irrevocably authorizes such service, contractor, shipper or agent to deliver such records, reports, and related documents to the Administrative Agent and to follow the Administrative Agent’s instructions with respect to further services at any time that an Event of Default exists or has occurred and is continuing.
(c) If Excess Availability falls below the Threshold Amount or an Event of Default exists or has occurred and is continuing, the Administrative Agent will require more frequent reporting of certain of the foregoing information set forth in this Section 7.1, such frequency to be determined in the Administrative Agent’s reasonable discretion (including, without limitation, delivery of weekly Borrowing Base Certificates).
Appears in 1 contract