Common use of Inspection and Audits Clause in Contracts

Inspection and Audits. Borrower shall permit, and shall cause each Obligor to permit, Lender, or any Persons designated by Lender, to call at Borrower's or any Obligor's places of business during normal business hours, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's and any Obligor's business. Borrower shall furnish to Lender such information relevant to Lender's rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's name, to verify the validity, amount or any other matter relating to any of Borrower's Accounts, by mail, telephone, telecopy, electronic mail or otherwise. Borrower authorizes Lender to discuss the affairs, finances and business of Borrower with the controller and any officers or directors of Borrower or with its Parent or any Affiliate or the controller, officers or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower with Borrower's independent

Appears in 1 contract

Samples: Loan Agreement (Tarpon Industries, Inc.)

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Inspection and Audits. Each Borrower shall permitshall, and US Borrower shall cause each Obligor to permitother Company to, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's each Company’s places of business during normal business hoursat any reasonable times, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's each Company’s books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's such Company’s business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's such Company’s business as Lender may consider reasonable under the circumstances. Each Borrower shall, and any Obligor's business. US Borrower shall cause each other Company to, furnish to Lender such information relevant to Lender's ’s rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's ’s name, to verify the validity, amount or any other matter relating to any of US Borrower's ’s Accounts, by mail, telephone, telecopy, electronic mail mail, or otherwise. Each Borrower authorizes Lender to discuss the affairs, finances and business of Borrower each Company with the controller and any officers officers, employees or directors of Borrower any Company or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower each Company with Borrower's independentsuch Company’s independent public accountants. Any such discussions shall be without liability to Lender or to any Company’s independent public accountants. Borrowers shall pay to Lender all customary fees (currently $750 per person per day) and all reasonable costs and out-of-pocket expenses incurred by Lender in the exercise of its rights hereunder, and all of such fees, costs and expenses shall constitute Liabilities hereunder, shall be payable on demand and, until paid, shall bear interest at the highest rate then applicable to Loans hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Oilgear Co)

Inspection and Audits. Borrower shall permit, and shall cause each Obligor to permit, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's places of business during normal business hoursat any reasonable times, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's and any Obligor's businessbusiness as Lender may consider reasonable under the circumstances. Borrower shall furnish to Lender such information relevant to Lender's rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's name, to verify the validity, amount or any other matter relating to any of Borrower's Accounts, by mail, telephone, telecopy, electronic mail mail, or otherwise. Borrower authorizes Lender to discuss the affairs, finances and business of Borrower with the controller and any officers officers, employees or directors of Borrower or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower with Borrower's independentindependent public accountants. Any such discussions shall be without liability to Lender or to Borrower's independent public accountants. Borrower shall pay to Lender all customary fees and all costs and out-of-pocket expenses incurred by Lender in the exercise of its rights hereunder, and all of such fees, costs and expenses shall constitute Liabilities hereunder, shall be payable on demand and, until paid, shall bear interest at the highest rate then applicable to Loans hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Tarpon Industries, Inc.)

Inspection and Audits. Borrower shall permit, and shall cause each Obligor to permit, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's places of business during normal business hoursat any reasonable times, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's and any Obligor's businessbusiness as Lender may consider reasonable under the circumstances. Borrower shall furnish to Lender such information relevant to Lender's rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's name, to verify the validity, amount or any other matter relating to any of Borrower's Accountsthe Receivables, by mail, telephone, telecopy, electronic mail telegraph or otherwise. Borrower authorizes Lender to discuss the affairs, finances and business of Borrower with the controller and any officers officers, employees or directors of Borrower or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower with Borrower's independentindependent public

Appears in 1 contract

Samples: Loan and Security Agreement (Autocorp Equities Inc)

Inspection and Audits. US Borrower shall permitshall, and shall cause each Obligor to permitother Company to, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's each Company’s places of business during normal business hoursat any reasonable times, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's each Company’s books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's such Company’s business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's such Company’s business as Lender may consider reasonable under the circumstances. US Borrower shall, and any Obligor's business. Borrower shall cause each other Company to, furnish to Lender such information relevant to Lender's ’s rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's ’s name, to verify the validity, amount or any other matter relating to any of US Borrower's ’s Accounts, by mail, telephone, telecopy, electronic mail mail, or otherwise. US Borrower authorizes Lender to discuss the affairs, finances and business of Borrower each Company with the controller and any officers officers, employees or directors of Borrower any Company or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of each Company with such Company’s independent public accountants. Any such discussions shall be without liability to Lender or to any Company’s independent public accountants. US Borrower with Borrower's independentshall pay to Lender all customary fees (currently $750 per person per day) and all reasonable costs and out-of-pocket expenses incurred by Lender in the exercise of its rights hereunder, and all of such fees, costs and expenses shall constitute Liabilities hereunder, shall be payable on demand and, until paid, shall bear interest at the highest rate then applicable to Loans hereunder.

Appears in 1 contract

Samples: Foreign Accounts and Inventory Loan and Security Agreement (Oilgear Co)

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Inspection and Audits. Borrower shall permit, and shall cause each Obligor to permit, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's places of business during normal business at any reasonable times upon at least 24 hours' prior notice, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's and any Obligor's businessbusiness as Lender may consider reasonable under the circumstances. Borrower shall furnish to Lender such information relevant to Lender's rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents agents, shall have the right, at any time and from time to time, in Lender's name, to verify the validity, amount or any other matter relating to any of Borrower's Accounts, the Bonds or the Mortgage Loans by mail, telephone, telecopy, electronic mail mail, or otherwise. Borrower authorizes Lender to discuss the affairs, finances and business of Borrower with the controller and any officers officers, employees or directors of Borrower or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower with Borrower's independentindependent public accountants. Any such discussions shall be without liability to Lender or to Borrower's independent public accountants. Borrower shall pay to Lender all customary fees and all costs and out-of-pocket expenses incurred by Lender in the exercise of its rights hereunder, and all of such fees, costs and expenses shall constitute Liabilities hereunder, shall be payable on demand and, until paid, shall bear interest at the highest rate then applicable to Loans hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (American Church Mortgage Co)

Inspection and Audits. Borrower shall permit, and shall cause each Obligor to permit, permit Lender, or any Persons designated by Lenderit, to call at Borrower's or any Obligor's places of business during normal business hoursat any reasonable times, and, without hindrance or delay, to inspect the Collateral and to inspect, audit, check and make extracts from Borrower's or any Obligor's books, records, journals, orders, receipts and any correspondence and other data relating to Borrower's business, the Collateral or any transactions between the parties hereto, and shall have the right to make such verification concerning Borrower's and any Obligor's businessbusiness as Lender may consider reasonable under the circumstances. Borrower shall furnish to Lender such information relevant to Lender's rights under this Agreement and the Other Agreements as Lender shall at any time and from time to time reasonably request. Lender, through its officers, employees or agents shall have the right, at any time and from time to time, in Lender's name, to verify the validity, amount or any other matter relating to any of Borrower's Accounts, by mail, telephone, telecopy, electronic mail mail, or otherwise, provided that prior to the occurrence of an Event of Default, Lender shall conduct such verification in the name of a nominee of Lender or in Borrower’s name. Borrower authorizes Lender to discuss the affairs, finances and business of Borrower with the controller and any officers officers, employees or directors of Borrower or with its Parent or any Affiliate or the controllerofficers, officers employees or directors of its Parent or any Affiliate, and to discuss the financial condition of Borrower with Borrower's independentindependent public Ver 9

Appears in 1 contract

Samples: Loan and Security Agreement (Obsidian Enterprises Inc)

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