Inspection of Projects Sample Clauses
The 'Inspection of Projects' clause grants one party the right to examine and review the progress, quality, or compliance of ongoing work or deliverables within a project. Typically, this clause allows the client or project owner to access the project site, review documentation, or assess completed milestones at specified intervals or upon request. By enabling regular oversight, the clause helps ensure that the project meets agreed-upon standards and timelines, and it provides a mechanism for identifying and addressing issues early, thereby reducing the risk of defects or delays.
Inspection of Projects. Borrowers shall permit Agent, by its employees and independent contractors, to enter upon and inspect, at any time and from time to time, all Projects that are then in the Borrowing Base, such inspections shall be made at a pace such that approximately 25% of all Projects in the Borrowing Base are so inspected during each Fiscal Quarter. The costs of such inspections, as reasonably agreed upon by Master Borrower and Agent at the time a Project is admitted to the Borrowing Base, shall be Lender's Costs.