Common use of Inspection; Lender Meeting Clause in Contracts

Inspection; Lender Meeting. Upon three (3) days' prior written notice to the Credit Parties and the Lenders, each Credit Party shall permit any authorized representatives of Agent to visit, audit and inspect any of the properties of such Credit Party and its Subsidiaries, including its and their financial and accounting records (which audits and inspections of financial and accounting records shall in the absence of an Event of Default take place in Borrower's corporate office), and to make copies and take extracts therefrom, and to discuss its and their affairs, finances and business with its and their officers and certified public accountants, at such reasonable times during normal business hours and as often as may be reasonably requested (collectively a "FIELD REVIEW"); provided, that, upon the occurrence and continuance of an Event of Default, Agent shall not be required to provide any notice to the Credit Parties prior to the performance of a Field Review; provided further, that, so long as no Event of Default has occurred and is continuing, Agent shall be limited to two (2) Field Reviews during any calendar year. Representatives of each Lender will be permitted to accompany representatives of Agent during each Field Review at such Lender's expense. In addition to the foregoing, each Credit Party will participate and will cause key management personnel of each Credit Party and its Subsidiaries to participate in a meeting with Agent and Lenders at least once during each year, which meeting shall be held at such time and such place as may be reasonably requested by Agent.

Appears in 2 contracts

Samples: Credit Agreement (Primedex Health Systems Inc), Credit Agreement (Primedex Health Systems Inc)

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Inspection; Lender Meeting. Upon three (3) days' prior written notice by Agent to the Credit Parties and the Lenders, each Credit Party shall permit any authorized representatives of Agent to visit, audit and inspect any of the properties of such Credit Party and its Subsidiaries, including its and their financial and accounting records (which audits and inspections of financial and accounting records shall in the absence of an Event of Default take place in Borrower's corporate office)records, and to make copies and take extracts therefrom, and to discuss its and their affairs, finances and business with its and their officers and certified public accountants, at such reasonable times during normal business hours and as often as may be reasonably requested (collectively a "FIELD REVIEW"“Field Review”); provided, that, upon the occurrence and continuance of an Event of Default, Agent shall not be required to provide any notice to the Credit Parties prior to the performance of a Field Review; provided further, that, so long as no Event of Default has occurred and is continuing, Agent shall be limited to two one (21) Field Reviews Review during any calendar year. Representatives of each Lender will be permitted to accompany representatives of Agent during each Field Review at such Lender's ’s expense. In addition to the foregoing, each Credit Party will participate and will cause key management personnel of each Credit Party and its Subsidiaries to participate in a meeting with Agent and Lenders at least once during each year, which meeting shall be held at such time and such place as may be reasonably requested by Agent.

Appears in 2 contracts

Samples: Credit Agreement (Accuro Healthcare Solutions, Inc.), Credit Agreement (Accuro Healthcare Solutions, Inc.)

Inspection; Lender Meeting. Upon three (3) days' prior written notice to the Credit Parties and the Lenders, each Credit Party shall permit any authorized representatives of Agent to visit, audit and inspect any of the properties of such Credit Party and its 32 Subsidiaries, including its and their financial and accounting records (which audits and inspections of financial and accounting records shall in the absence of an Event of Default take place in Borrower's corporate office), and to make copies and take extracts therefrom, and to discuss its and their affairs, finances and business with its and their officers and certified public accountants, at such reasonable times during normal business hours and as often as may be reasonably requested (collectively a "FIELD REVIEW"); provided, that, upon the occurrence and continuance of an Event of Default, Agent shall not be required to provide any notice to the Credit Parties prior to the performance of a Field Review; provided further, that, so long as no Event of Default has occurred and is continuing, Agent shall be limited to two (2) Field Reviews during any calendar year. Representatives of each Lender will be permitted to accompany representatives of Agent during each Field Review at such Lender's expense. In addition to the foregoing, each Credit Party will participate and will cause key management personnel of each Credit Party and its Subsidiaries to participate in a meeting with Agent and Lenders at least once during each year, which meeting shall be held at such time and such place as may be reasonably requested by Agent.

Appears in 1 contract

Samples: Credit Agreement (RadNet, Inc.)

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Inspection; Lender Meeting. Upon three (3) days' prior written notice Subject to the Credit Parties and the Lendersnext sentence of this Section 2.5, each Credit Party upon reasonable notice, Borrower shall permit any authorized representatives of Agent Lender to visit, audit audit, appraise and inspect any of the properties of such Credit Party Collateral and Borrower’s and its Subsidiaries, including its and their financial and accounting records (which audits and inspections of financial and accounting records shall in the absence of an Event of Default take place in Borrower's corporate office)records, and to make copies and take extracts therefrom, and to discuss its and their affairs, finances and business with its and their officers and certified public accountants, at such reasonable times during normal business hours and as often as may be reasonably requested (collectively a "FIELD REVIEW")requested; provided that while any Event of Default has occurred and is continuing no notice to Borrower shall be required. Any such visits, audits, collateral audits, appraisals and inspections shall be at Borrower’s sole cost and expense; provided, that, upon the occurrence and continuance of an Event of Default, Agent shall not be required to provide any notice to the Credit Parties prior to the performance of a Field Review; provided further, thathowever, so long as no Default or Event of Default has occurred and is continuing, Agent the aggregate cost to Borrower of any such visits (exclusive of any collateral audits or appraisals) shall be limited to two not exceed Five Thousand Dollars (2$5,000.00) Field Reviews during any per calendar year, with such amount prorated for calendar year 2007. Representatives of each Lender will be permitted to accompany representatives of Agent during each Field Review at such Lender's expense. In addition to Without in any way limiting the foregoing, each Credit Party Borrower will participate and will cause its key management personnel and those of each Credit Party and its Subsidiaries to participate in a meeting with Agent and Lenders Lender at least once during each year, which meeting shall be held at such time and such place as may be reasonably requested by AgentLender.

Appears in 1 contract

Samples: Credit Agreement (Pet DRx CORP)

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