Common use of Inventory Updates Clause in Contracts

Inventory Updates. No later than 60 Business Days after the end of each calendar year, each Landholder shall deliver to the Lenders an updated Timberland inventory report in form and scope reasonably acceptable to the Administrative Agent. Such updated Timberland inventory report shall, among other things, reflect volumes removed, destroyed or miscalculated pursuant to the records and/or knowledge of such Landholder and/or each Timber Manager with a comparison against the Harvest Plan for such calendar year, plus the then applicable added growth of the Timber volumes since the latest of either (i) the date of the last inventory report or (ii) such Landholder’s last proprietary internal inventory system volume estimate, plus a year end summary of the inventory, plus the projected growth of the Timber volumes for the next calendar year.

Inventory Updates. No later than 60 Business Days after the end of each calendar year, each Landholder shall deliver to the Lenders an updated Timberland inventory report in form and scope that is reasonably acceptable to the Administrative Agent. Such updated Timberland inventory report shall, among other things, reflect volumes removed, destroyed or miscalculated pursuant to the records and/or knowledge of such Landholder and/or each the Timber Manager with a comparison against the Harvest Plan for such calendar year, plus the then applicable added growth of the Timber volumes since the latest of either (i) the date of the last inventory report or (ii) such Landholder’s last proprietary internal inventory system volume estimate, plus a year end summary of the inventory, plus the projected growth of the Timber volumes for the next calendar year.

Inventory Updates. No later than 60 Business Days after the end of each calendar year, each Landholder shall deliver to the Lenders an updated Timberland inventory report in form and scope that is reasonably acceptable to the Administrative Agent. Such updated Timberland inventory report shall, among other things, reflect volumes removed, destroyed or miscalculated pursuant to the records and/or knowledge of such Landholder and/or each Timber Manager with a comparison against the Harvest Plan for such calendar year, plus the then applicable added growth of the Timber volumes since the latest of either (i) the date of the last inventory report or (ii) such Landholder’s last proprietary internal inventory system volume estimate, plus a year end summary of the inventory, plus the projected growth of the Timber volumes for the next calendar year.