Common use of Maintenance of Financial Records; Inspections Clause in Contracts

Maintenance of Financial Records; Inspections. Borrowers agree to maintain books and records pertaining to their financial matters in such detail, form and scope, for so long as the CIT Financing Agreement remains in effect, as CIT reasonably may require, and thereafter, as Investment Manager reasonably may require. Each Borrower agrees that Investment Manager, accompanied by any Lender (at such Lender's expense), and/or any agent designated by Investment Manager, upon notice to Borrowers (provided that such notice shall not be required after any Default or Event of Default shall have occurred), may enter upon such Borrower's premises at any time during normal business hours, and from time to time, in order to (i) examine and inspect the books and records of such Borrower, and make copies thereof and take extracts therefrom, and (ii) verify, inspect and perform physical counts and other valuations of the Collateral and any and all records pertaining thereto. Each Borrower irrevocably authorizes all accountants and third parties to disclose and deliver directly to Investment Manager and Lender, at such Borrower's expense, all financial statements and information, books, records, work papers and management reports generated by them or in their possession regarding such Company or the Collateral. All costs, fees and expenses incurred by Investment Manager in connection with such examinations, inspections, physical counts and other valuations shall constitute Fees reimbursable by Borrowers pursuant to SECTION 1.6 for purposes of this Agreement.

Maintenance of Financial Records; Inspections. Borrowers agree Such Credit Party agrees to maintain books and records pertaining to their such Credit Party’s financial matters in such detail, form and scope, for so long as the CIT Financing Agreement remains in effect, as CIT reasonably may require, and thereafter, as Investment Manager reasonably may requireaccordance with past practices. Each Borrower Such Credit Party agrees that Investment Managerthe Agent, accompanied by any Lender (at such Lender's ’s expense), and/or any agent designated by Investment Manager, upon notice to Borrowers (provided that such notice shall not be required after any Default or Event of Default shall have occurred)the Agent, may enter upon such Borrower's Credit Party’s premises at any time during normal business hours, and from time to time, in order to (i) examine and inspect the books and records of such BorrowerCredit Party, and make copies thereof and take extracts therefrom, and (ii) verify, inspect and perform physical counts and other valuations of the Collateral and any and all records pertaining thereto. Each Borrower Such Credit Party irrevocably authorizes all accountants and third parties to disclose and deliver directly to Investment Manager the Agent and Lenderthe Lenders, at such Borrower's Credit Party’s expense, all financial statements and information, books, records, work papers and management reports generated by them or in their possession regarding such Company Credit Party or the CollateralCollateral other than communications or reports subject to attorney/client privilege. All costs, fees and expenses incurred by Investment Manager the Agent in connection with such examinations, inspections, physical counts and other valuations shall constitute Fees reimbursable by Borrowers pursuant to SECTION 1.6 Out-of-Pocket Expenses for purposes of this Financing Agreement; provided, however, that so long as no Default or Event of Default exists (and without limiting the Agent’s rights under Section 7.2(i) hereof), the Company shall not be required to pay or reimburse the Agent for costs, fees and expenses incurred by the Agent in connection with more than three (3) such examinations, inspections, physical counts and other valuations during any twelve (12) month period.

Maintenance of Financial Records; Inspections. The Borrowers agree to maintain books and records pertaining to their financial matters in such detail, form and scope, for so long as the CIT Financing Agreement remains in effect, as CIT reasonably may require, and thereafter, as Investment Manager reasonably may require. Each Borrower agrees that Investment Manager, accompanied by any Lender (at such Lender's expense)of the L/C Guarantors, and/or any agent designated by Investment Manager, upon notice to the Borrowers (provided that such notice shall not be required after any Default or Event of Default shall have occurred), may enter upon such Borrower's ’s premises at any time during normal business hours, and from time to time, in order to (i) examine and inspect the books and records of such Borrower, and make copies thereof and take extracts therefrom, and (ii) verify, inspect and perform physical counts and other valuations of the Collateral and any and all records pertaining thereto. Each Borrower irrevocably authorizes all accountants and third parties to disclose and deliver directly to Investment Manager and Lenderthe L/C Guarantor, at such Borrower's ’s expense, all financial statements and information, books, records, work papers and management reports generated by them or in their possession regarding such Company Borrower or the Collateral. All costs, fees and expenses incurred by Investment Manager in connection with such examinations, inspections, physical counts and other valuations shall constitute Fees reimbursable by the Borrowers pursuant to SECTION 1.6 Section 2.3 for purposes of this Agreement.