Field Audits. Each Borrower shall permit Lender to inspect the Inventory, other tangible assets and/or other business operations of such Borrower, to perform appraisals of the Equipment of such Borrower, and to inspect, audit, check and make copies of, and extracts from, the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data relating to Inventory, Accounts and any other Collateral, the results of which must be satisfactory to Lender in Lender’s sole and absolute discretion. All such inspections or audits by Lender shall be conducted at such Borrower’s sole expense.
Appears in 2 contracts
Samples: Loan and Security Agreement (Adcare Health Systems Inc), Loan and Security Agreement (Adcare Health Systems Inc)
Field Audits. Each The Borrower shall permit Lender the Bank to inspect the Inventory, other tangible assets and/or other business operations of such the Borrower, to perform appraisals of the Equipment of such the Borrower, and to inspect, audit, check and make copies of, and extracts from, the books, records, . computer data, computer programs, journals, orders, receipts, correspondence and other data relating to Inventory, Accounts and any other Collateral, the results of which must be satisfactory to Lender the Bank in Lenderthe Bank’s sole and absolute discretion. All such inspections or audits by Lender the Bank shall be conducted at such the Borrower’s sole expense.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)
Field Audits. Each The Borrower shall permit the Lender to inspect the Inventory, other tangible assets and/or other business operations of such the Borrower, to perform appraisals of the Equipment of such the Borrower, and to inspect, audit, check and make copies of, and extracts from, the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data relating to Inventory, Accounts and any other Collateral, the results of which must be satisfactory to the Lender in the Lender’s sole and absolute discretion. All such inspections or audits by the Lender shall be conducted at such the Borrower’s sole expense, subject to a limit of $5,000 per year unless an Event of Default occurs during any such year.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (REX AMERICAN RESOURCES Corp)
Field Audits. Each The Borrower shall permit the Lender to inspect the Inventory, other tangible assets and/or other business operations of such the Borrower, to perform appraisals of the Equipment of such the Borrower, and to inspect, audit, check and make copies of, and extracts from, the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data relating to Inventory, Accounts and any other Collateral, the results of which must be satisfactory to the Lender in the Lender’s sole and absolute discretion. All such inspections or audits by the Lender shall be conducted at such the Borrower’s sole expense, subject to a limit of $5,000 per year unless an Event of Default occurs.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Millennium Ethanol, LLC)