Equipment Appraisals. (i) Borrowers shall cooperate fully with the Administrative Agent and its agents during all Equipment Appraisals, which shall be conducted at the discretion of the Administrative Agent. Costs and expenses in connection with Equipment Appraisals shall be borne by the Borrowers in accordance with Section 6.10(b).
(ii) Borrowers shall notify the Administrative Agent promptly of any event or circumstance which, to any Borrower’s knowledge, would result in any Railcars or Chassis of any Borrower having a Value of $200,000 or more no longer constituting Eligible Equipment.
Equipment Appraisals. Banks shall engage appraisals of all equipment of the Borrowers located in Cincinnati, Ohio, by one or more appraisers who are acceptable to the Banks. The Borrowers shall cooperate fully with such appraisers so that such appraisals can be promptly performed. If, in the reasonable judgment of the Banks, Term Loan A will not be paid in full on or before December 31, 2004, the Banks may engage appraisals of the balance of the Borrower’s equipment, wherever located, by one or more appraisers who are acceptable to the Banks. The Borrowers shall cooperate fully with such appraisers so that such appraisals can be promptly performed. All of the foregoing appraisals shall be paid for by the Borrowers.
Equipment Appraisals. (i) Borrowers shall cooperate fully with the Administrative Agent and its agents during all Equipment Appraisals which shall be conducted at the discretion of the Administrative Agent, and shall be at the expense of the Borrowers; provided that absent the occurrence and continuation of an Event of Default, the Borrowers’ obligation to pay for such expense shall be limited to not more than once annually.
(ii) Borrowers shall notify the Administrative Agent promptly of any event or circumstance which, to any Borrower’s knowledge, would result in any Railcars or Chassis of any Borrower no longer constituting Eligible Equipment.
Equipment Appraisals. Upon Lender's request, each 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 Eligible Existing Equipment or Eligible New Equipment in form, scope and methodology acceptable to Lender and by an appraiser acceptable to Lender, addressed to Lender, and upon which Lender is expressly permitted to rely.
Equipment Appraisals. Opening Borrowing Base Certificate. Receipt by the Agent of a Borrowing Base Certificate as of the Closing Date, substantially in the form of Exhibit L, certified by the chief financial officer of the Company to be true and correct as of the Closing Date and demonstrating availability of Loans permitted to be borrowed under the Credit Agreement, after giving effect to the Acquisition of the Pierre Foods Division and the Loans made on the Closing Date, of at least $17,000,000.
Equipment Appraisals. Borrower shall permit Lender to engage an independent appraiser satisfactory to Lender in its Permitted Discretion to conduct periodic appraisals of Borrower’s Equipment. Each such appraisal shall be at Borrower’s expense. Unless a Default Period is then in effect, Lender will conduct no more than two (2) appraisals of Borrowers’ Equipment in any year of the term of this Agreement.
Equipment Appraisals. The Borrower shall engage Hilco Appraisal Services, LLC or another nationally recognized appraisal company reasonably acceptable to the Administrative Agent to update or render a semi-annual Equipment Appraisal Report to take place in the months of April and October of each Fiscal Period. Based on evaluation of the Equipment Appraisal Report, the Administrative Agent shall determine whether an Equipment Appraisal Shortfall exists, and shall so notify the Borrower in writing (an "EQUIPMENT APPRAISAL SHORTFALL NOTICE").
Equipment Appraisals. The Agent shall have received and approved appraisals of the Equipment prepared by each of the appraisers listed on Schedule 1.1(G) to the Credit Agreement.
Equipment Appraisals. Prior to any Credit Extension after the date which is ninety (90) days after the date hereof, Administrative Agent shall have receive updated appraisals of the equipment acquired in the Banker Steel Acquisition in form and substance acceptable to Administrative Agent. It shall be an Event of Default if Administrative Agent does not receive any such appraisal with such period.
Equipment Appraisals. The Borrower shall allow the Lender to obtain updated appraisals of Borrower's Equipment, the results of which must be satisfactory to the Lender in the Lender's Permitted Discretion. All such appraisals by the Lender shall be at Borrower's sole expense, provided, however, that so long as no Event of Default exists, the Borrower shall not be required to reimburse Lender for such appraisals more frequently than one (1) time each fiscal year.
