Examination & Verification. Agent shall have completed and be satisfied, acting reasonably, with an updated examination and verification of the books and records of Parent and its Subsidiaries, and such examination shall indicate that no material adverse change has occurred in the financial condition, business, profits, operations or assets of the Credit Parties since December 31, 2019, and Parent and its Subsidiaries shall have provided Agent and its representatives access to diligence and meetings with the management team and industry participants as reasonably requested by Agent, the results of which are satisfactory to Agent and Lenders.
Examination & Verification. CIT shall have completed, to its satisfaction, an examination and verification of the Accounts, Inventory, financial statements, books and records of the Company, which examination shall indicate that, after giving effect to all Revolving Loans, advances and extensions of credit to be made at closing, the sum of Availability and Liquid Assets equals or exceeds Ten Million Dollars ($10,000,000), as evidenced by, without limitation, a Borrowing Base certificate delivered by the Company to CIT as of the Closing Date. It is understood that such requirement contemplates that all Indebtedness and obligations are current, and that all payables are being handled in the normal course of the Company’s business and consistent with its past practice.
Examination & Verification. CIT shall have completed and be satisfied with an updated examination and verification of the Accounts, Inventory and books and records of the Company.
Examination & Verification. Required Lenders shall have completed to the satisfaction of Required Lenders an examination and verification of the Accounts, Inventory, books and records of the Borrower as to matters that Lenders Agent learns of after its execution of this Financing Agreement.
Examination & Verification. The Agent and each of the Lenders shall have completed, to their respective satisfaction, an examination and verification of the Accounts, Inventory, financial statements, books and records of each of the Borrowers which examination shall indicate that, after giving effect to all Revolving Loans, advances and extensions of credit (including, but not limited to, all Letters of Credit) to be made or facilitated at closing, the Borrowers shall have an aggregate opening additional Availability of at least Seventy-Five Million Dollars ($75,000,000), as evidenced by a Borrowing Base Certificate delivered by the Parent to the Agent as of the Closing Date. It is understood that such requirement contemplates that all debts and obligations are current, and that all payables are being handled in the normal course of the Borrowers' business and consistent with their past practice.
Examination & Verification. Agent shall have completed and be satisfied with an updated examination and verification of the books and records of the operations of Healthcare Facility located at the Real Property, and such examination shall indicate that no material adverse change has occurred in the financial condition, business, prospects, profits, operations or assets thereof since December 31, 2014.
Examination & Verification. The Agent and the Lenders shall have completed to the satisfaction of the Agent and the Lenders an examination and verification of the Accounts, Inventory, books and records of the Companies and the Guarantors, and which examination shall indicate that, after giving effect to all Revolving Loans advances and extensions of credit to be made at closing, the Companies shall have an opening additional Availability of at least $100,000,000, as evidenced by a borrowing base certificate delivered by the Companies to the Agent as of a date not more than ten (10) days before the Closing Date. It is understood that such requirement contemplates that all debts and obligations are current except to the extent being contested or disputed in good faith, and that all payables are being handled in the normal course of each of the Companies’ business and consistent with its past practice.
Examination & Verification. The Agent shall have completed to the satisfaction of the Lenders an examination and verification of the Accounts, Inventory, books and records of the Company.
Examination & Verification. The Agent and each of the Lenders shall have completed, to their respective satisfaction, an examination and verification of the Accounts, Inventory, financial statements, books and records of each of the Loan Parties which examination shall indicate that, after giving effect to all Revolving Loans, Letters of Credit, Letter of Credit Guaranties, and any other advances and extensions of credit to be made on the Closing Date and after giving effect to the payment of or the creation of a reserve for all fees and expenses relating to this Financing Agreement, the Secured Notes and the Designated Stock Repurchase on the Closing Date, the Loan Parties shall have an opening Availability of at least $15,000,000, as evidenced by the Borrowing Base Certificate (in form and substance satisfactory to the Agent) delivered by the Borrowers to the Agent as of the Closing Date. It is understood that such requirement contemplates that all debts and obligations are current, and that all payables are being handled in the normal course of the Loan Parties’ business and consistent with their past practice.
Examination & Verification. CIT shall have completed, to its satisfaction , an examination and verification of the Accounts, Inventory, financial statements, books and records of the Company which examination shall indicate that, after giving effect to all Revolving Loans, advances and extensions of credit to be made at closing, the Company shall have an opening additional Availability of at least $4,000,000 plus an amount sufficient to pay all past due taxes and to reduce trade payables and other debts and obligations current in accordance with the Company’s usual business practices, as evidenced by a Borrowing Base certificate delivered by the Company to CIT as of the Closing Date, all as more fully required by the CIT Commitment Letter. It is understood that such requirement contemplates that all debts and obligations are current, and that all payables are being handled in the normal course of the Company’s business and consistent with its past practice.
