Common use of Equipment, Real Property and Appraisals Clause in Contracts

Equipment, Real Property and Appraisals. With respect to the Equipment and owned Real Property: (a) upon the Collateral Agent’s request, Borrower shall, at its expense, no more than one (1) time in any twelve (12) month period commencing with the Original Closing Date, but at any time or times as the Collateral Agent may request following the occurrence and during the continuance of an Event of Default, deliver or cause to be delivered to the Collateral Agent written appraisals as to the Equipment and/or the owned Real Property by an independent appraiser designated by the Collateral Agent and reasonably acceptable to Borrower, (b) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s knowledge, would result in any Equipment no longer constituting an Eligible Equipment and (c) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s knowledge, would result in any Real Property no longer constituting an Eligible Real Property.

Equipment, Real Property and Appraisals. With respect to the Equipment and owned Real Property: (a) upon the Collateral Agent’s 's request, Borrower shall, at its expense, no more than one (1) time in any twelve (12) month period commencing with the Original Closing Date, but at any time or times as the Collateral Agent may request following the occurrence and during the continuance of an Event of Default, deliver or cause to be delivered to the Collateral Agent written appraisals as to the Equipment and/or the owned Real Property by an independent appraiser designated by the Collateral Agent and reasonably acceptable to Borrower, (b) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s 's knowledge, would result in any Equipment no longer constituting an Eligible Equipment and (c) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s 's knowledge, would result in any Real Property no longer constituting an Eligible Real Property.

Equipment, Real Property and Appraisals. With respect to the Equipment and owned Real Property: (a) upon the Collateral Agent’s 's request, Borrower shall, at its expense, no more than one (1) time in any twelve (12) month period commencing with the Original Closing Date, but at any time or times as the Collateral Agent may request following the occurrence and during the continuance of an Event of Default, deliver or 135 cause to be delivered to the Collateral Agent written appraisals as to the Equipment and/or the owned Real Property by an independent appraiser designated by the Collateral Agent and reasonably acceptable to Borrower, (b) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s 's knowledge, would result in any Equipment no longer constituting an Eligible Equipment and (c) Borrower and each Borrowing Base Guarantor shall notify Collateral Agent promptly of any event or circumstance which, to any Loan Party’s 's knowledge, would result in any Real Property no longer constituting an Eligible Real Property.