Inspection; Appraisals. Permit Agent and the Lenders’ duly authorized representatives or agents to (a) visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and employees (provided that (i) an authorized representative of the Loan Parties shall be given an opportunity to be present, (ii) to the extent Agent and the Lender’s duly authorized representatives aren’t permitted by Applicable Law to visit any properties or any specific area thereof without credentials, approvals, background checks or similar authorizations, neither Borrower nor any Loan Party shall be in violation of this Agreement for refusing access to any such restricted area to Agent and the Lender’s duly authorized representatives, provided that Borrower and each Loan Party shall cooperate with Agent and the Lender’s duly authorized representatives to assist with the procurement of all credentials, approvals, background checks or similar authorizations necessary to enter such restricted area, (iii) so long as no Event of Default shall have occurred during a calendar year, Agent and the Lenders’ shall not conduct more than one (1) inspection per calendar year for the Loan Parties, as a whole, and (iv) all costs and expenses incurred by Agent or the Lenders’ representatives or agents shall be subject to the cap set forth in Section 2.10 herein except for (x) any such costs and expenses incurred during the existence of an Event of Default or (y) in connection with a refinancing of this credit facility) and (b) cause the Acquired Loan Party’s Real Property to be appraised by an appraiser selected by Agent at Agent’s sole cost and expense, in each case at such reasonable times and intervals as Agent may designate and, so long as no Event of Default exists, with reasonable prior notice to Borrower and during regular business hours.
Inspection; Appraisals. Permit Agents, each Lender and their duly authorized representatives or agents to (a) visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and employees and (b) cause the Real Property to be appraised by an appraiser selected by Agents (provided that (i) an authorized representative of the Loan Parties shall be given an opportunity to be present and (ii) so long as no Event of Default shall have occurred during a calendar year, Agents and the Lenders shall not conduct more than one (1) inspection per calendar year) at such reasonable times and intervals as Agents may designate and, so long as no Event of Default exists, with reasonable prior notice to Borrower and during regular business hours. Each Loan Party will, and will cause each of its Subsidiaries to, permit Agents and each of its duly authorized representatives or agents to conduct appraisals and valuations at such reasonable times and intervals as Agents may designate. All such inspections and appraisals shall be at Borrower’s expense.
Inspection; Appraisals. The Company shall, and shall cause each Subsidiary to, permit the Bank and its duly authorized representatives and agents to visit and inspect any of the Properties, corporate books and financial records of the Company and each Subsidiary, to examine and make copies of the books of accounts and other financial records of the Company and each Subsidiary, and to discuss the affairs, finances and accounts of the Company and each Subsidiary with, and to be advised as to the same by, its officers, employees and independent public accountants (and by this provision the Company authorizes such accountants to discuss with the Bank the finances and affairs of the Company and of each Subsidiary) at such reasonable times and reasonable intervals as the Bank may designate. The Bank may obtain (or direct the Company to obtain and provide to the Bank) updated appraisals on the Company's inventory, or portion thereof, from time to time as the Bank may designate, which appraisal reports shall in each case be prepared by an independent third party appraiser reasonably acceptable to the Bank and the Company and be in such format and contain such detail as the Bank may reasonably request. The costs and expenses incurred in obtaining any such appraisal shall in each case be borne by the Company (whether obtained by the Bank or by the Company), provided that prior to the occurrence of a Default or Event of Default, the Company shall not be required to pay for more than one such appraisal of the Company's inventory in any period of six calendar months. The Company shall, at the Bank's request, provide, at the Company's expense, updated environmental questionnaires concerning activities and conditions affecting the real property owned, leased or operated by the Company or any of its Subsidiaries and/or environmental reports prepared for the Bank by an environmental consultant or an environmental engineering firm acceptable to the Bank concerning any real property owned, leased or operated by the Company or any of its Subsidiaries; provided, however, that the Bank shall not request any new environmental report be prepared by any such third party unless the Bank reasonably believes there is a reasonable prospect of material liability to the Company or any Subsidiary for noncompliance with environmental, health and safety laws of the type which are the subject of Section 6.15 hereof.
Inspection; Appraisals. Permit Agent and the Lenders’ duly authorized representatives or agents to (a) visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and employees (provided that (i) an authorized representative of the Loan Parties shall be given an opportunity to be present, (ii) to the extent Agent and the Lender’s duly authorized representatives aren’t permitted by Applicable Law to visit any properties or any specific area thereof without credentials, approvals, background checks or similar authorizations, neither Borrower nor any Loan Party shall be in violation of this Agreement for refusing access to any such restricted area to Agent and the Lender’s duly authorized representatives, provided that Borrower and each Loan Party shall cooperate with Agent and the Lender’s duly authorized representatives to assist with the procurement of all credentials, approvals, background checks or similar authorizations necessary to enter such restricted area, (iii) so long as no Event of Default shall have occurred during a calendar year, Agent and the Lenders’ shall not conduct more than one (1) inspection per calendar year for the Loan Parties, as a whole, and (iv) all costs and expenses incurred by Agent or the Lenders’ representatives or agents shall be subject to the cap set forth in Section 2.10 herein except for (x) any such costs and expenses incurred during the existence of an Event of Default or (y) in connection with a refinancing of this credit facility) and (b) cause the Acquired Financed Loan Party Real Property to be appraised by an appraiser selected by Agent at Agent’s sole cost and expense, in each case at such reasonable times and intervals as Agent may designate and, so long as no Event of Default exists, with reasonable prior notice to the Borrower and during regular business hours.
Inspection; Appraisals. (i) Subject to reasonable and customary rights of Tenants, Borrower shall permit agents, representatives and employees of the Agent to inspect any Mortgaged Property. In the event Agent becomes aware of an environmental event or condition which is reasonable to investigate, Agent shall have the right to cause to be performed environmental inspections of the applicable Mortgaged Property at Borrower's expense; PROVIDED that prior to causing any Phase II environmental assessment to be performed, (A) Agent shall consult with both Borrower and a reputable environmental consultant selected by Agent in its sole discretion (but Agent shall be under no duty to refrain from conducting any such Phase II environmental assessment as a result of such consultations), and (B) Agent shall give notice to Borrower that it elects to conduct a Phase II environmental assessment and, prior to Agent conducting such assessment, Borrower shall have 45 days after delivery of such notice in which to obtain a release of the applicable Mortgaged Property in accordance with Section 2.5.
(ii) At any time after the six (6) month anniversary of the date hereof, but
Inspection; Appraisals. Agent and, with the consent of and accompanied by Agent, any Lender (by any of their officers, employees or agents) shall have the right, to the extent that the exercise of such right shall be within the control of any Loan Party, at any time or times to:
(a) visit the properties of each Loan Party, inspect the Collateral and the other assets of each Loan Party and inspect and make extracts from its books and records, including, but not limited to, management letters prepared by independent accountants, all during customary business hours at such premises;
(b) discuss any Loan Party's business, assets, liabilities, financial condition, results of operations and business prospects, insofar as the same are reasonably related to the rights of Agent or the Lenders hereunder or under any of the other Loan Documents, with any Loan Party's principal officers, independent accountants and any other Person (except that any such discussion with any third parties shall be conducted only in accordance with Agent's or such Lender's standard operating procedures relating to confidentiality);
(c) verify the amount, quantity, value and condition of, or any other matter relating to, any of the Collateral and in this connection to review, audit and make extracts from all records and files related to any of the Collateral.
Inspection; Appraisals. Permit Agent and the Lenders’ duly authorized representatives or agents to (a) visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and employees and (b) cause the Real Property to be appraised by an appraiser selected by Agent (provided that (i) an authorized representative of the Loan Parties shall be given an opportunity to be present, (ii) such visits and inspections shall not unreasonably interfere with the Loan Parties’ business operations and shall comply with Applicable Law and company policy, and (iii) so long as no Event of Default shall have occurred during a calendar year, Agent and the Lenders’ shall not conduct more than two (2) inspections per calendar year) at such reasonable times and intervals as Agent may designate and, so long as no Event of Default exists, with reasonable prior notice to the Borrower and during regular business hours. Notwithstanding anything to the contrary contained in this Agreement, the aggregate expense of all such inspections and visits that the Borrower is obligated to reimburse at any time when no Event of Default has occurred and is continuing the Agent and the Lenders shall not exceed $50,000 per annum.
Inspection; Appraisals. Borrower shall (i) permit Agent and any authorized representatives designated by Agent to visit and inspect any of the properties of Borrower or any of its Subsidiaries, including their books and records and financial and accounting records, and, in conjunction with such inspection, to make copies and take extracts therefrom, and to discuss their affairs, finances and business with their officers and Borrower’s Accountants, at such reasonable times during normal business hours and as often as may be reasonably requested and (ii) not more than once per calendar year, so long as no Event of Default has occurred and is continuing, permit Agent and any authorized representatives designated by Agent to (a) perform desktop Collateral appraisals in form and substance satisfactory to Agent at Borrower’s cost and expense as Agent deems appropriate in Agent’s Permitted Discretion and (b) select examiners to conduct asset-based field examinations at Borrower’s cost and expense as Agent deems appropriate in Agent’s Permitted Discretion. Each Lender may with the consent of Agent, which will not be unreasonably denied, and at their own expense accompany Agent on any such visit or inspection.
Inspection; Appraisals. Each of the Borrowers shall, and shall cause each Subsidiary to, permit the Bank and its duly authorized representatives and agents to visit and inspect any of the Properties, corporate books and financial records of such Borrower and each Subsidiary, to examine and make copies of the books of accounts and other financial records of the Parent and each Subsidiary, and to discuss the affairs, finances and accounts of the Parent and each Subsidiary with, and to be advised as to the same by, its officers, employees and independent public accountants (and by this provision each of the Borrowers authorizes such accountants to discuss with the Bank the finances and affairs of the Parent and of each Subsidiary) at such reasonable times and reasonable intervals as the Bank may designate, in each case with prior notice to the Parent (except during the continuance of any Default or Event of Default or while the Bank in good faith suspects a Default or Event of Default is continuing in which case no prior notice shall be required). Each Borrower shall allow the Bank, solely at the Borrowers' joint and several expense, to conduct a field examination of the Accounts and Inventory of such Borrower no more frequently than once per year if no Event of Default or Default has occurred and as frequently as the Bank shall request thereafter, the results of each of which field audit must be satisfactory to the Bank in the Bank's reasonable discretion; provided, that amount of the costs and expenses of the Bank in connection with such examination for which the Borrowers are jointly and severally liable shall not exceed $5,000 for each such examination undertaken when no Event of Default or Default has occurred. The Bank expressly reserves the right to modify the definitions of Eligible Accounts and/or Eligible Inventory if, in its reasonable credit judgment, the result of any field audit makes such modification necessary because of a material adverse change in the quality of the Collateral.
Inspection; Appraisals. Permit Agent and the Lenders’ duly authorized representatives or agents to (a) visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts with, and to be advised as to the same by, its officers and employees (provided that (i) an authorized representative of the Loan Parties shall be given an opportunity to be present, (ii) to the extent Agent and the Lender’s duly authorized representatives aren’t permitted by Applicable Law to visit any properties or any specific area thereof without credentials, approvals, background checks or similar authorizations, neither Borrower nor any Loan Party shall be in violation of this Agreement for refusing access to any such restricted area to Agent and the Lender’s duly authorized representatives, provided that Borrower and each Loan Party shall cooperate with Agent and the Lender’s duly authorized representatives to assist with the procurement of all credentials, approvals, background checks or similar authorizations necessary to enter such restricted area,