Common use of Inventory Appraisals Clause in Contracts

Inventory Appraisals. Once during any Fiscal Year, the Administrative Agent may require, at the cost of the Borrowers, an appraisal of the Borrower's inventory in scope and detail and prepared by an independent appraisal firm acceptable to Administrative Agent; provided, that after the occurrence and during the continuance of a Default, the Administrative Agent shall have the option to receive at the cost of the Borrowers such additional inventory appraisals as the Administrative Agent or the Required Lenders shall reasonably request. If an Event of Default exists, the Administrative Agent shall require an inventory appraisal if the most recently conducted inventory appraisal is more than one year old.

Inventory Appraisals. Once during any Fiscal Year, the Administrative Agent may require, at the cost of the Borrowers, an appraisal of the Borrower's Borrowers' inventory in scope and detail and prepared by an independent appraisal firm acceptable to the Administrative Agent; provided, that that, after the occurrence and during the continuance of a DefaultDefault or if Excess Availability shall fall below $80,000,000, the Administrative Agent shall have the option to receive at the cost of the Borrowers such additional inventory appraisals as the Administrative Agent or the Required Lenders shall reasonably request. If an Event of Default exists, the Administrative Agent shall require an inventory appraisal if the most recently conducted inventory appraisal is more than one year old.

Inventory Appraisals. Once during any Fiscal Year, the Administrative Agent may require, at the cost of the BorrowersBorrower, an appraisal of the Borrower's ’s inventory in scope and detail and prepared by an independent appraisal firm acceptable to the Administrative Agent; provided, that that, after the occurrence and during the continuance of a Default, the Administrative Agent shall have the option to receive at the cost of the Borrowers Borrower such additional inventory appraisals as the Administrative Agent or the Required Lenders shall reasonably request. If an Event of Default exists, the Administrative Agent shall require an inventory appraisal if the most recently conducted inventory appraisal is more than one year old.

Inventory Appraisals. Once during any Fiscal Year, the Administrative Agent may require, at the cost of the Borrowers, an appraisal of the Borrower's inventory in scope and detail and prepared by an independent appraisal firm acceptable to the Administrative Agent; provided, that that, after the occurrence and during the continuance of a DefaultDefault or if Excess Availability shall fall below $30,000,000, the Administrative Agent shall have the option to receive at the cost of the Borrowers such additional inventory appraisals as the Administrative Agent or the Required Lenders shall reasonably request. If an Event of Default exists, the Administrative Agent shall require an inventory appraisal if the most recently conducted inventory appraisal is more than one year old.