Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the paragraph entitled “Financial Information” in the “Covenants” section of this Agreement, the Borrower will promptly deliver the following to the Bank at such times as may be requested by the Bank:
(a) A borrowing certificate, in form and detail satisfactory to the Bank, setting forth the Acceptable Receivables on which the requested extension of credit is to be based.
(b) Copies of the invoices or the record of invoices from the Borrower’s sales journal for such Acceptable Receivables and a listing of the names and addresses of the debtors obligated thereunder.
(c) Copies of the delivery receipts, purchase orders, shipping instructions, bills of lading and other documentation pertaining to such Acceptable Receivables.
(d) Copies of the cash receipts journal pertaining to the borrowing certificate.
Conditions to Availability of Credit. The Bank's obligation to extend credit under this Agreement is subject to the Bank's receipt of the following, each in form and substance satisfactory to the Bank:
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the paragraph entitled "Financial Information" in the "Covenants" section of this Agreement, the Borrower will promptly deliver the following to the Bank at such times as may be requested by the Bank:
(a) A borrowing certificate, in form and detail satisfactory to the Bank, setting forth the Acceptable Receivables and the Acceptable Inventory on which the requested extension of credit is to be based.
(b) Copies of the Invoices or the record of invoices from the Borrower's sales journal for such Acceptable Receivables and a listing of the names and addresses of the debtors obligated thereunder.
(c) Copies of the delivery receipts, purchase orders, shipping instructions, bills of lading and other documentation pertaining to such Acceptable Receivables.
(d) Copies of the cash receipts journal pertaining to the borrowing certificate. Ref#: 1000420713 : -Vertex Energy, Inc. Standard Loan Agreement
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the paragraph entitled "Financial Information" in the "Covenants" section of this Agreement, the Borrower will promptly deliver the following to the Bank at such times as may be requested by the Bank:
(a) A borrowing certificate from the Guarantor, in form and detail satisfactory to the Bank, setting forth the Eligible Account Receivables (which shall be broken out to show fees and costs) and Eligible Work in Process on which the requested extension of credit is to be based.
(b) Copies of the invoices or the record of invoices from the Guarantor's sales journal for such Eligible Account Receivables and Eligible Work in Process and a listing of the names and addresses of the debtors obligated thereunder.
(c) Copies of the delivery receipts, purchase orders, shipping instructions, bills of lading and other documentation pertaining to such Eligible Account Receivables and Eligible Work in Process.
(d) Copies of the cash receipts journal pertaining to the borrowing certificate.
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the Section entitled "Financial Information" in the "Covenants" section of this Agreement, the Borrower will promptly deliver a borrowing base certificate to the Bank at such times as may be requested by the Bank, substantially in the for of EXHIBIT C, summarizing the accounts receivable, inventory, equipment, Cash and Cash Equivalents of the Borrower (and, when appropriate, of Metra) on which the requested extension of credit is to be based, together with all supporting documentation required by the Bank in order to calculate the Borrowing Base.
Conditions to Availability of Credit. Section 2.3 of the Credit Agreement is amended and restated in its entirety to read as follows:
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under Section 7.2, the Borrower will promptly deliver the following to the Bank at any time that the outstanding principal balance of Facility No 1 exceeds $5,000,000 a borrowing base certificate, in form and detail satisfactory to the Bank, in the format of Exhibit A-1, calculated by the Borrower and setting forth the Borrowing Base on which the requested extension of credit is to be based. In addition, the Borrower shall only be required to deliver a detailed aging of the Borrower Eligible Receivables and summary aging by vendor of accounts payable as required under Section 7.2 (f) and (g) of the Credit Agreement, when the outstanding principal balance of Facility No 1 exceeds $5,000,000. Further, upon written request of the Bank, the Borrower will promptly deliver to Bank:
(a) Copies of the invoices or the record of invoices from the Borrower’s sales journal for such Eligible Receivables and a listing of the names and addresses of the debtors obligated thereunder.
(b) Copies of the delivery receipts, purchase orders, shipping instructions, bills of lading and other documentation pertaining to such Eligible Receivables.
(c) Copies of the cash receipts journal pertaining to the borrowing base certificate.
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the paragraph entitled "Financial Information" in the "Covenants" section of this Agreement, the Borrower will promptly deliver the following to the Bank at such times as may be requested by the Bank:
(a) A borrowing base certificate, in form and detail satisfactory to the Bank, setting forth the Acceptable Receivables and the Acceptable Inventory on which the requested extension of credit is to be based.
Conditions to Availability of Credit. 14 4.01 Conditions to First Extension of Credit...................... 14 4.02 Conditions to Each Extension of Credit....................... 14
Conditions to Availability of Credit. In addition to the items required to be delivered to the Bank under the paragraph entitled "Financial Information" in the "Covenants" section of this Agreement and subject to Section 9.2, the Borrowers will promptly deliver the following to the Bank at such times as may be requested by the Bank:
(a) a Borrowing Base certificate, in form and detail satisfactory to the Bank, summarizing the Borrowers' accounts receivable on which the requested extension of credit is to be based, together with all supporting documentation required by the Bank in order to calculate the Borrowing Base.
(b) copies of the record of invoices from each Borrower's sales journal for such accounts receivable.
(c) copies of the purchase orders, shipping instructions, bills of lading and other documentation pertaining to such accounts receivable.
(d) copies of the cash receipts journal pertaining to the Borrowing Base certificate.
