Depreciation Policy. (a) The UK Administrative Borrower or US Administrative Borrower, as applicable, shall notify Agent in writing 15 Business Days before any UK Borrower or any US Borrower, as applicable, amends, supplements or replaces its Depreciation Policy. (b) On receipt of any notice in accordance with Section 5.23(a) above, Agent and the UK Borrowers or the US Borrowers, as applicable shall recalculate the net book value of Eligible UK Rolling Stock Collateral of the UK Borrowers or Eligible US Rolling Stock Collateral of the US Borrowers, as applicable, taking into account the new Depreciation Policy and the UK Administrative Borrower or the US Administrative Borrower, as applicable, shall, on request by Agent, supply a valuation in order to make such recalculation.
Appears in 4 contracts
Samples: Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.)
