Common use of Inspection Rights/Lender Meetings Clause in Contracts

Inspection Rights/Lender Meetings. Each of the Borrowers and the other Loan Parties shall, and shall cause each of the Subsidiaries of Borrowers to permit representatives and independent contractors of Administrative Agent and Collateral Agent to visit and inspect any of their respective properties to examine their corporate, financial and operating records, and make copies thereof or abstracts therefrom, to examine and audit the Collateral and to discuss their respective affairs, finances and accounts with their respective directors, officers, members, managers and independent public accountants, at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to such Person; provided, that, unless an Event of Default exists, the cost of only 2 field examinations, in each case, per calendar year shall be borne by Loan Parties at the then applicable rate charged by Administrative Agent or Collateral Agent, as applicable, plus actual and reasonable out of pocket expenses. Loan Parties shall cause its senior management to hold meetings with Administrative Agent in person (if requested by Administrative Agent), on a semi-annual basis, to discuss Loan Parties’ financial performance and projections. Loan Parties shall reimburse Administrative Agent for all reasonable out-of-pocket expenses incurred in connection with Administrative Agent’s attendance at such meetings.

Inspection Rights/Lender Meetings. Each of the Borrowers and the other Loan Parties shall, and shall cause each of the Subsidiaries of Borrowers to permit representatives and independent contractors of Administrative Agent and Collateral Agent to visit and inspect any of their respective properties to examine their corporate, financial and operating records, and make copies thereof or abstracts therefrom, to examine and audit the Collateral and to discuss their respective affairs, finances and accounts with their respective directors, officers, members, managers and independent public accountants, at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to such Person; provided, that, unless an Event of Default exists, the cost of only 2 field examinations, in each case, per calendar year shall be borne by Loan Parties at the then applicable rate charged by Administrative Agent or Collateral Agent, as applicable, plus actual and reasonable out of pocket expenses. Loan Parties shall cause its senior management to hold meetings with Administrative Agent in person (if requested by Administrative Agent), on a semi-annual basis, to discuss Loan Parties’ ' financial performance and projections. Loan Parties shall reimburse Administrative Agent for all reasonable out-of-pocket expenses incurred in connection with Administrative Agent’s 's attendance at such meetings.