Common use of Inspection; Audit Fees Clause in Contracts

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The Lender, or any Person designated by the Lender in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default), to call and visit at any Borrower's place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such Borrower's books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties with any of the Duly Authorized Persons, and (b) to make such verification concerning the Collateral as the Lender may consider reasonable under the circumstances. The Borrowers agree to pay on demand all costs, expenses and reasonable fees incurred by Lender in connection with any inspections or audits of the Borrowers performed by the Lender under this Section. All such amounts incurred by the Lender hereunder shall bear interest hereunder and shall be additional Liabilities of the Borrowers to the Lender, secured by the Collateral, if not promptly paid upon the request of the Lender.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The LenderAgent for the benefit of Lenders, or any Person designated by the Lender Agent in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default)after the Closing Date, to call and visit at any the Borrower's ’s place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such the Borrower's ’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower with any of the Duly Authorized PersonsManager/Officer, and (b) to make such verification concerning the Collateral as the Lender Agent may consider reasonable under the circumstances. The Borrowers agree to pay on demand Absent an Event of Default, the Agent is responsible for all reasonable costs, expenses and reasonable fees incurred by Lender Agent in connection with any inspections or audits of the Borrowers Borrower performed by the Lender Agent under this Section; provided, however, that upon the occurrence of an Event of Default, Borrower agrees to pay on demand all reasonable costs, expenses and fees incurred by Agent in connection with any inspections or audits of the Borrower performed by the Agent under this Section. All such amounts incurred by the Lender Agent hereunder shall bear interest hereunder at the Default Rate and shall be additional Liabilities of the Borrowers Borrower to the LenderAgent and Lenders, secured by the Collateral, if not promptly paid upon the request of the LenderAgent.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The Lender, Administrative Agent or any Person designated by the Lender Administrative Agent in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default)hereafter, to call and visit at any Borrower's ’s place or places of business (or any other place where the any Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Default or Event of Default, upon reasonable advance notice (and after any Default or Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, examine, check and make copies of and extracts from such Borrower's ’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or business, operations, and property, and to any transactions between the parties hereto; provided, however, that Administrative Agent shall be permitted to conduct up to two (2) such inspections, audits, appraisals of the Inventory and Equipment, and examinations on an annual basis, at Borrower’s sole cost and expense, so long as no Default or Event of Default has occurred and is continuing, and as often (at Borrower’s sole cost and expense) as Administrative Agent deems advisable, if a Default or an Event of Default has occurred and is continuing, and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower with any of the Duly Authorized PersonsOfficers or other employees or accountants of Borrower, and (b) to make such verification concerning the Collateral (provided, that, unless a Default or an Event of Default exists, verifications of Accounts will be in writing) as the Lender Administrative Agent may consider reasonable under the circumstances. The Borrowers agree to pay on demand all costs, expenses and reasonable fees incurred by Lender in connection with any inspections or audits of the Borrowers performed by the Lender under this Section. All such amounts incurred by the Lender Administrative Agent hereunder shall bear interest hereunder (commencing to accrue after Borrower fails to promptly pay same) at the Default Rate and shall be additional Liabilities of the Borrowers Borrower to the LenderAdministrative Agent, secured by the Collateral, if not promptly paid upon the request of the LenderAdministrative Agent. Borrower acknowledges that Administrative Agent’s standard audit charge is Eight Hundred Fifty and No/100 Dollars ($850.00) per auditor per day, plus all out-of-pocket audit costs and expenses reasonably incurred by Administrative Agent.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The Lender, or any Person designated by the Lender in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default), to call and visit at any the Borrower's place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such the Borrower's books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties with any of the Duly Authorized Persons, and (b) to make such verification concerning the Collateral as the Lender may consider reasonable under the circumstances. The Borrowers agree Borrower agrees to pay on demand all costs, expenses and reasonable fees incurred by Lender in connection with any inspections or audits of the Borrowers Borrower performed by the Lender under this Section. All such amounts incurred by the Lender hereunder shall bear interest hereunder and shall be additional Liabilities of the Borrowers Borrower to the Lender, secured by the Collateral, if not promptly paid upon the request of the Lender.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The Lender, or any Person designated by the Lender in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default)hereafter, to call and visit at any the Borrower's ’s place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such the Borrower's ’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower with any of the Duly Authorized PersonsOfficers or other employees of the Borrower, and (b) to make such verification concerning the Collateral and conduct appraisals as the Lender may consider reasonable under the circumstances. The Borrowers agree Borrower agrees to pay on demand all reasonable costs, expenses and reasonable fees incurred by Lender in connection with any inspections or audits of the Borrowers Borrower performed by the Lender under this SectionSection 8.2. All such amounts incurred by the Lender hereunder shall bear interest hereunder at the Default Rate and shall be additional Liabilities of the Borrowers Borrower to the Lender, secured by the Collateral, if not promptly paid upon the request of the Lender. The Borrower acknowledges that the Lender’s standard audit charge is Seven Hundred Fifty Dollars ($750) per auditor per day, plus all out-of-pocket audit costs and expenses reasonably incurred by the Lender.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The LenderAgent, or any Person designated by the Lender Agent in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default), to call and visit at any Borrower's place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such Borrower's books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties with any of the Duly Authorized Persons, and (b) to make such verification concerning the Collateral as the Lender Agent may consider reasonable under the circumstances. The Borrowers agree to pay on demand all costs, expenses and reasonable fees incurred by Lender Agent in connection with any inspections or audits of the Borrowers performed by the Lender Agent under this Section. All such amounts incurred by the Lender Agent hereunder shall bear interest hereunder and shall be additional Liabilities of the Borrowers to the LenderAgent, secured by the Collateral, if not promptly paid upon the request of the LenderAgent.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The Lender, or any Person designated by the Lender in writing from time to time, shall have the right: (a) from right at any time to time hereafter (but no more than two (2) times per calendar year prior to after an Event of Default), Default has occurred: to call and visit at any the Borrower's ’s place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, examine, check and make copies of and extracts from such the Borrower's ’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or business, operations, and property, and to any transactions between the parties hereto, ; and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower with any of the Duly Authorized Persons, and (b) to make such verification concerning Officers or other employees of the Collateral as the Lender may consider reasonable under the circumstancesBorrower. The Borrowers agree Borrower agrees to pay on demand all reasonable costs, expenses and reasonable fees incurred by Lender in connection with any inspections inspections, examinations, or audits of the Borrowers Borrower performed by the Lender under this SectionSection 6.2. All such amounts incurred by the Lender hereunder shall bear interest hereunder at the Default Rate and shall be additional Liabilities of the Borrowers Borrower to the Lender, secured by the Collateral, Lender if not promptly paid upon the request of the Lender. The Borrower acknowledges that the Lender’s standard audit charge is Eight Hundred Fifty and No/100 Dollars ($850.00) per auditor per day (or such lesser amount as may agreed to in writing by the Borrower and the Lender), plus all out-of-pocket audit costs and expenses reasonably incurred and documented by the Lender.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The LenderAgent, or any Person designated by the Lender Agent in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default), to call and visit at any Borrower's ’s place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event of Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, check and make copies of and extracts from such Borrower's ’s and Property Owner’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or to any transactions between the parties hereto, and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower and Property Owners with any of the Duly Authorized Persons, and (b) to make such verification concerning the Collateral as the Lender Agent may consider reasonable under the circumstances. The Borrowers agree Borrower agrees to pay on demand all costs, expenses and reasonable fees incurred by Lender Agent in connection with any inspections or audits of the Borrowers Borrower performed by the Lender Agent under this Section. All such amounts incurred by the Lender Agent hereunder shall bear interest hereunder and shall be additional Liabilities of the Borrowers Borrower to the LenderAgent, secured by the Collateral, if not promptly paid upon the request of the LenderAgent.

Inspection; Audit Fees. Each Borrower will keep proper books of record and account in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business and activities. The LenderAgent, or any Person designated by the Lender Agent in writing from time to time, shall have the right: (a) from time to time hereafter (but no more than two (2) times per calendar year prior to an Event of Default)hereafter, to call and visit at any the Borrower's ’s place or places of business (or any other place where the Collateral or any information relating thereto is kept or located) during ordinary business hours and, prior to any Event of Default, upon reasonable advance notice (and after any Event and during the continuance of a Default, at any time during normal business hours without the requirement of any advance notice), (i) to inspect, audit, examine, check and make copies of and extracts from such the Borrower's ’s books, records, journals, orders, receipts and any correspondence and other data relating to its business or business, operations, and property, and to any transactions between the parties hereto, ; and (ii) to discuss the affairs, finances and business of the Credit Parties Borrower with any of the Duly Authorized PersonsOfficers or other employees of the Borrower, and (b) to make such verification concerning the Collateral (provided, that , unless a Default exists, verification of Accounts will be in writing) and conduct appraisals of the Inventory as the Lender Agent may consider reasonable under the circumstances. The Borrowers agree So long as a Default or Event of Default shall have occurred and is continuing, the Borrower agrees to pay on demand all reasonable costs, expenses and reasonable fees incurred by Lender Agent in connection with any inspections inspections, examinations, or audits of the Borrowers Borrower performed by the Lender Agent under this SectionSection 8.2. If no Default or Event of Default has occurred and is continuing, then the amount of costs, expenses and fees incurred by Agent in connection with any inspections, examinations, or audits of the Borrower performed by the Agent under this Section 8.2 to be paid by the Borrower shall be limited to $4,500 three times per calendar year. All such amounts incurred by the Lender Agent hereunder shall bear interest hereunder at the Default Rate and shall be additional Liabilities of the Borrowers Borrower to the LenderAgent, secured by the Collateral, if not promptly paid upon the request of the LenderAgent.