Common use of Inspection and Verification Clause in Contracts

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of the Credit Agreement, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 4 contracts

Samples: Credit Agreement (Western Auto Supply Co/), Security Agreement (Advance Stores Co Inc), Security Agreement (Western Auto Supply Co/)

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Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures procedures, in accordance with Section 5.09 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.12).

Appears in 3 contracts

Samples: Security Agreement (Alamosa Holdings Inc), Credit Agreement (Alamosa Holdings Inc), Security Agreement (Alamosa Properties Lp)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of on reasonable advance notice at the Credit AgreementBorrower's own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' Borrower's affairs with the officers of the Grantors Borrower and their its independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives . Subject to the provisions of Section 9.12 of the Grantors shall be entitled to -------- ------- participate in such discussions. The Credit Agreement, the Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty and their agents and representatives.

Appears in 3 contracts

Samples: Security Agreement (Winstar Communications Inc), Security Agreement (Winstar Communications Inc), Credit Agreement (Winstar Communications Inc)

Inspection and Verification. The Subject to and without limiting the terms and conditions of Sections 5.09 of the Credit Agreement, the Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 at the Grantors' own cost and expense, on reasonable prior notice except if an Event of the Credit AgreementDefault then exists, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Marsh Supermarkets Inc), Security Agreement (Marsh Supermarkets Inc)

Inspection and Verification. The Collateral Subject to the limitations set forth in Section 5.09 of the Credit Agreement, any Agent and such Persons as the Collateral such Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors’ own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personparty, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent Agents shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be “Information” subject to the provisions of Section 10.12 of the Credit Agreement).

Appears in 2 contracts

Samples: Canadian Security Agreement (Pliant Corp), Domestic Security Agreement (Pliant Corp)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of the Credit Agreement, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 2 contracts

Samples: Security Agreement (Advance Auto Parts Inc), Security Agreement (Advance Auto Parts Inc)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall at reasonable intervals and upon reasonable prior notice have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.17).

Appears in 2 contracts

Samples: Credit Agreement (Fairchild Semiconductor International Inc), Credit Agreement (Intersil Holding Co)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantor's own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' Grantor's affairs with the officers of the Grantors Grantor and their its independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.16).

Appears in 2 contracts

Samples: Security Agreement (Tel Save Holdings Inc), Credit Agreement (Tel Save Holdings Inc)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of on reasonable advance notice during normal business hours at the Credit AgreementGrantor's own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' Grantor's affairs with the officers of the Grantors Grantor and their its independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives . Subject to the provisions of Section 9.12 of the Grantors shall be entitled to -------- ------- participate in such discussions. The Credit Agreement, the Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty and their agents and representatives.

Appears in 1 contract

Samples: Credit Agreement (Winstar Communications Inc)

Inspection and Verification. The Collateral Agent and such Persons ---------------------------- persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of upon reasonable notice and at reasonable times at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures procedures, in accordance with Section 5.09 of the Credit Agreement, the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern Industries Inc)

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Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors in the event of and during the continuance of an Event of Default or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.16).

Appears in 1 contract

Samples: Credit Agreement (Triton PCS Inc)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors or the third person possessing such Collateral for the purpose of making such a verification; provided. Prior to the occurrence of a Default, howeversuch inspections, that representatives of the Grantors evaluations and verifications shall be entitled to -------- ------- participate in such discussionsonly conducted quarterly. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Credit Agreement (Hechinger Co)

Inspection and Verification. The Collateral Agent and such Persons persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors’ own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third person, by contacting Account Debtors in the event of and during the continuance of an Event of Default or the third person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be “Information” subject to the provisions of Section 8.13 of the Term Loan Agreement).

Appears in 1 contract

Samples: Security Agreement (Triton PCS Holdings Inc)

Inspection and Verification. The Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 of at the Credit AgreementGrantors' own cost and expense, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors while a Notice of Enforcement is in effect or the third person Person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured PartyParty (it being understood that any such information shall be deemed to be "Information" subject to the provisions of Section 9.12 of the Credit Agreement).

Appears in 1 contract

Samples: Credit Agreement (Leap Wireless International Inc)

Inspection and Verification. The Subject to the terms and conditions of Sections 5.9 of the Loan Agreement, the Collateral Agent and such Persons as the Collateral Agent may reasonably designate shall have the right, subject to compliance with Section 5.09 at the Grantors’ own cost and expense, on reasonable prior notice except if an Event of the Credit AgreementDefault then exists, to inspect the Collateral, all records related thereto (and to make extracts and copies from such records) and the premises upon which any of the Collateral is located, to discuss the Grantors' affairs with the officers of the Grantors and their independent accountants and to verify under reasonable procedures the validity, amount, quality, quantity, value, condition and status of, or any other matter relating to, the Collateral, including, in the case of Accounts or Collateral in the possession of any third personPerson, by contacting Account Debtors or the third person Person possessing such Collateral for the purpose of making such a verification; provided, however, that representatives of the Grantors shall be entitled to -------- ------- participate in such discussions. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification with any Secured Party.

Appears in 1 contract

Samples: Security Agreement (GameStop Corp.)

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