Common use of Field Examination and Other Fees Clause in Contracts

Field Examination and Other Fees. Borrowers shall pay to Agent, field examination fees and charges, as and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus out-of-pocket expenses (including travel, meals, and lodging) for each field examination of any Loan Party or its Subsidiaries performed by or on behalf of Agent, and (ii) the out-of-pocket fees, charges or expenses paid or incurred by Agent) if it elects to employ the services of one or more third Persons to perform a field examinations of the Loan Parties; provided, that, so long as no Event of Default shall have occurred and be continuing, Borrowers shall not be obligated to reimburse Agent for more than one (1) field examination during any period of twelve (12) consecutive months (except for field examinations conducted in connection with a Permitted Acquisition); provided, however, that if Excess Availability is less than the greater of 15% of the Line Cap and $6,250,000 at any time during any calendar year, then Borrowers shall be obligated to reimburse Agent for an additional field examination during such calendar year. In addition to the foregoing, the Loan Parties and their Subsidiaries shall in no event be obligated to pay or reimburse any Lender or any representatives or agents of any Lender (other than, in each case, Xxxxx Fargo in its capacity as Agent), for any visit, inspection or examination of the Loan Parties or their Subsidiaries or their properties, books or records.

Field Examination and Other Fees. Borrowers shall pay to Agent, field examination fees and charges, as and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus reasonable and documented out-of-pocket expenses (including travel, meals, and lodging) for each field examination of any Loan Party or its Subsidiaries Borrower performed by or on behalf of personnel employed by Agent, and (ii) the fees or charges actually paid or incurred by Agent (but, in any event, no less than a charge of $1,000 per day, per Person, plus reasonable and documented out-of-pocket feesexpenses (including travel, charges or expenses paid or incurred by Agentmeals, and lodging)) if it elects to employ the services of one or more third Persons to perform a field examinations of the any Loan PartiesParty, to establish electronic collateral reporting systems, or to assess any Collateral; provided, that, so long as no Event of Default shall have occurred and be continuing, Borrowers shall not be obligated to reimburse Agent for more than one (1) field examination during any period of twelve (12) 12 consecutive months (except for field examinations conducted in connection with a Permitted Acquisition); providedor, however, that if Excess Availability is less than the greater of 15shall have fallen below 12.5% of the Line Cap and $6,250,000 at any time Maximum Revolver Amount during any calendar yearperiod of twelve consecutive months, then Borrowers shall be obligated to reimburse Agent for an additional two field examination examinations during such calendar yearperiod). In addition to the foregoing, the Loan Parties and their Subsidiaries shall in no event be obligated to pay or reimburse any Lender or any representatives or agents of any Lender (other than, in each case, Xxxxx Fargo in its capacity as Agent), for any visit, inspection or examination of the Loan Parties or their Subsidiaries or their properties, books or records.

Field Examination and Other Fees. Borrowers shall pay to Agent, field examination fees and charges, as and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus reasonable and documented out-of-pocket expenses (including travel, meals, and lodging) for each field examination of any Loan Party or its Subsidiaries Borrower performed by or on behalf of personnel employed by Agent, and (ii) the fees or charges actually paid or incurred by Agent (but, in any event, no less than a charge of $1,000 per day, per Person, plus reasonable and documented out-of-pocket feesexpenses (including travel, charges or expenses paid or incurred by Agentmeals, and lodging)) if it elects to employ the services of one or more third Persons to perform a field examinations of the any Loan PartiesParty, to establish electronic collateral reporting systems, or to assess any ABL Priority Collateral; provided, that, so long as no Event of Default shall have occurred and be continuing, Borrowers shall not be obligated to reimburse Agent for more than one (1) field examination during any period of twelve (12) consecutive months (except for field examinations conducted in connection with a Permitted Acquisition); providedor, however, that if Excess Availability is less than the greater of 15shall have fallen below 15.0% of the Line Cap and $6,250,000 at any time Maximum Revolver Amount during any calendar yearperiod of twelve (12) consecutive months, then Borrowers shall be obligated to reimburse Agent for an additional two (2) field examination examinations during such calendar yearperiod). In addition to the foregoing, the Loan Parties and their Subsidiaries shall in no event be obligated to pay or reimburse any Lender or any representatives or agents of any Lender (other than, in each case, Xxxxx Fargo in its capacity as Agent), for any visit, inspection or examination of the Loan Parties or their Subsidiaries or their properties, books or records.