Collateral Review. (A) Prior to the occurrence of an Event of Default, the Administrative Agent and/or its designated agent may not more than one (1) time during any given twelve (12) month period (at the expense of the Borrower), upon notice, perform (i) reviews of the Facility Administrator’s and/or Borrower’s business operations and (ii) audits of the Collateral, in all cases, the scope of which shall be determined by the Administrative Agent.
(B) After the occurrence of and during the continuance of an Event of Default, the Administrative Agent or its designated agent may, in its sole discretion regarding frequency (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of the Facility Administrator’s and/or Borrower’s business operations and (ii) audits or any other review of the Collateral, in all cases, the scope of which shall be determined by the Administrative Agent.
(C) The results of any review conducted in accordance with this Section 7.11 shall be distributed by the Administrative Agent to the Lenders.
Collateral Review. Agent and its counsel shall have performed (i) a review satisfactory to Agent of all of the Material Contracts and other assets (including material leases of operating facilities) of each Loan Party, the financial condition of each Loan Party, including all of its tax, litigation, environmental and other potential contingent liabilities, the capitalization and capital structure of each Loan Party and the cash management and management information systems of Borrower and (ii) reviews and investigations of such other matters as Agent and its counsel deem appropriate, in each case with results satisfactory to Agent.
Collateral Review. Administrator shall have received the most-recent Collateral Review pursuant to Section 9.1.5(c).
Collateral Review. (A) Other than upon the occurrence and during the continuance of an Event of Default, the Agent and/or its designated agent may not more than two (2) times during the term of the Facility (at the expense of the Borrower, which expense shall be limited to the reasonable and documented out-of-pocket expenses of the Agent and/or its designated agent), upon reasonable prior written notice, perform (i) reviews of the Borrower’s, the Manager’s, the Servicer’s, the Seller (Solar Loans)’s and/or the Seller (Solar Assets)’s business operations (in the case of the Manager, the Servicer, the Seller (Solar Loans) and the Seller (Solar Assets), solely to the extent relating to the Transaction Documents and the Collateral) and (ii) audits of the Collateral, in all cases, the scope of which shall be determined by the Agent.
(B) After the occurrence and during the continuance of an Event of Default, the Agent or its designated agent may, in its sole discretion regarding frequency (at the expense of the Borrower, which expense shall be limited to the reasonable and documented out-of-pocket expenses of Agent and/or its designated agent), upon reasonable prior written notice, perform (i) reviews of the Borrower’s, the Manager’s, the Servicer’s the Seller (Solar Loans)’s and/or the Seller (Solar Asset’s) business operations (in the case of the Manager, the Servicer, the Seller (Solar Loans) and the Seller (Solar Assets), solely to the extent relating to the Transaction Documents and the Collateral) and (ii) audits or any other review of the Collateral, in all cases, the scope of which shall be determined by the Agent.
(C) The Borrower hereby agrees to cause a nationally recognized firm of public accountants selected by the Borrower; provided, that such firm is independent with respect to the Borrower within the meaning of the Securities Act (an “Independent Accountant”) to deliver to the Agent, on or before January 31 of each year, beginning on January 31, 2024, with respect to one (1) Collection Period specified in writing by the Agent, one or more reports, which may be prepared by separate Independent Accountants (collectively, the “Consultant’s Report”) addressed to the Borrower, to the effect that such firm (a) has examined the delinquency and loss statistics prepared by the Borrower with respect to the Financing Funds’ portfolio of Solar Assets; (b) except as described in the Consultant’s Report, has found no exceptions or errors in the records relating to the Eligible S...
Collateral Review. (A) Prior to the occurrence of an Event of Default, the Agent and/or its designated agent may not more than one (1) time during any given twelve (12) month period (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of the Manager’s, the Servicer’s, the Seller’s and/or the Borrower’s business operations and (ii) audits of the Collateral, in all cases, the scope of which shall be determined by the Agent.
Collateral Review. On or before the Closing Date, and annually thereafter, a report of Commercial Lending Consultants or another firm acceptable to Administrator (each such report, a “Collateral Review”) which satisfies the requirements set forth on Schedule 9.1.5.
Collateral Review. Administrator shall have received for all Loans subsequent to the initial Loan on the Closing Date the most-recent Collateral Review pursuant to Section 9.1(e)(v).
Collateral Review. (A) Not more than one (1) time during any given twelve (12) month period so long as no Event of Default has occurred and is continuing, the Facility Agent, each Lender and/or its designee may (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of each Spruce Party’s operations in accordance with (and subject to the limitations of) Section 5.1(H) and (ii) audits of the Collateral, the scope of which shall be determined by the Facility Agent and each Lender in its reasonable discretion; provided, that the Facility Agent shall consult with the Borrower regarding the costs and expenses of such field audits and examinations and appraisals.
(B) At any time during which an Event of Default has occurred and is continuing, the Facility Agent, each Lender or its designated agent may, in its sole discretion regarding frequency (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of each Loan Party’s business operations in accordance with (and subject to the limitations of) Section 5.1(H) and (ii) audits or any other review of the Collateral, the scope of which shall be determined by the Facility Agent or each Lender in its reasonable discretion.
Collateral Review. As soon as possible, and in any event within thirty (30) days after the Closing Date, and each October and April thereafter, a report of the independent certified public accountants of Central Nevada (each such report, a "Collateral Review") which satisfies the requirements set forth on Schedule V.
Collateral Review. (G) Prior to the occurrence of an Event of Default, the Administrative Agent and/or its designated agent may not more than one (1) time during any given twelve (12) month period (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of the Manager’s, the Servicer’s, the Seller’s and/or the Borrower’s business operations and (ii) audits of the Collateral, in all cases, the scope of which shall be determined by the Administrative Agent.
(A) After the occurrence of an Event of Default, the Administrative Agent or its designated agent may, in its sole discretion regarding frequency (at the expense of the Borrower), upon reasonable notice, perform (i) reviews of the Manager’s, the Servicer’s, the Seller’s and/or Borrower’s business operations and (ii) audits or any other review of the Collateral, in all cases, the scope of which shall be determined by the Administrative Agent.
