Common use of Monthly Reports and Borrowing Base Certificates Clause in Contracts

Monthly Reports and Borrowing Base Certificates. The Borrowers shall submit to each Lender, not later than thirty (30) days after the end of each Fiscal Month, a report ("Monthly Report"), accompanied by a certificate in the form attached as EXHIBIT 3.1, which shall be signed by the chief executive officer or the chief financial officer of the Borrower Representative. The Monthly Report shall be in form and substance satisfactory to the Agent and shall include, as of the last Business Day of such Fiscal Month (and with respect to the initial Monthly Report attached as EXHIBIT 3.1-1, as of a date not more than two (2) Business Days prior to the Closing Date): (i) copies of all consolidated and consolidating operating statements for such Fiscal Month prepared for each Borrower for its internal use and other similar data as the Agent may reasonably request, (ii) an aged trial balance of Accounts of each Borrower ("Accounts Trial Balance") indicating which Accounts are current, up to 30, 30 to 60, 60 to 90, 90 to 120 and 120 days or more past the original invoice date and listing the names and addresses of all applicable Account Debtors, and (iii) a summary of accounts payable of each Borrower showing which accounts payable are current, up to 30, 30 to 60, 60 to 90 and 90 days or more past due and listing the names and addresses of applicable creditors. In addition, each Borrower shall deliver a Borrowing Base Certificate to the Agent and each Lender not later than the 3rd Business Day of each week for the preceding week (or such shorter period as the Agent may require). Each Borrower shall furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the Agent, concerning Accounts included, described or referred to in its Borrowing Base Certificates and any other documents in connection therewith requested by the Agent including, without limitation, but only if specifically requested by the Required Lenders, copies of all invoices prepared in connection with such Accounts and all credit memoranda issued by such Borrower (each Borrower shall issue such credit memoranda in accordance with its current practice and without delay, but in any event within three (3) Business Days of receipt of notice of a dispute with respect to an Account).

Monthly Reports and Borrowing Base Certificates. The Borrowers Borrower shall submit to each Lenderthe Agent, not later than thirty the twentieth (3020th) days after the end day of each Fiscal Monthmonth, a monthly report ("Monthly Report")) in the form attached as Exhibit 3.1-1, accompanied by a certificate in the form attached as EXHIBIT Exhibit 3.1-2, which shall be signed by the chief executive officer or the chief financial officer of the Borrower RepresentativeBorrower. The Monthly Report shall be in form and substance satisfactory to the Agent and shall include, as of the last Business Day of such Fiscal Month the preceding month (and with respect to the initial Monthly Report attached as EXHIBIT 3.1-1Report, as of a date not more than two (2) Business Days prior to the Closing Date): (i) copies of all consolidated and consolidating operating statements for such Fiscal Month month prepared for each by the Borrower for its internal use and other similar data as the Agent Required Lenders may reasonably request, (ii) an aged trial balance of Accounts of each the Borrower ("Accounts Trial Balance") indicating which Accounts are current, up to 30, 30 to 60, 60 to 90, 90 to 120 and 120 days or more past the original invoice due date and listing the names and addresses of all applicable Account Debtors, and (iii) a summary of accounts payable of each the Borrower showing which accounts payable are current, up to 30, 30 to 60, 60 to 90 and 90 days or more past due and listing the names and addresses of applicable creditors; and (iv) an aged schedule of Inventory owned by the Borrower and in the Borrower's possession valued at the lower of cost or market on a FIFO basis. The Borrower shall provide in all Monthly Reports and, upon the occurrence and during the continuation of a Default or Event of Default, more frequently if requested by the Required Lenders, in form satisfactory to the Required Lenders, information on each of the following occurrences arising subsequent to the immediately preceding Monthly Report: all sales or other reductions of and all additions to Inventory, all returns of Inventory in excess of $200,000 in the aggregate during such period, and all material credits issued by the Borrower, all material monetary claims against the Borrower in connection with Inventory. In addition, each the Borrower shall deliver a Borrowing Base Certificate to provide the Agent and each Lender with a Borrowing Base Certificate. Each such Borrowing Base Certificate shall be delivered to the Agent not later than (i) at all times when there is no principal amount outstanding under the Revolving Loan and no outstanding Lender Guaranty Liabilities, not later than the 3rd twentieth (20th) day of each month for the preceding month or (ii) at all times when there is any principal amount outstanding under the Revolving Loan and/or outstanding Lender Guaranty Liabilities, not later than the third (3rd) Business Day of each week for the preceding week (week; provided that, in either case, upon the occurrence and during the continuation of a Default or such an Event of Default, the Lenders reserve the right to require delivery of the Borrowing Base Certificate in a shorter period as the Agent may require)period. Each The Borrower shall furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the AgentRequired Lenders, concerning Accounts included, described or referred to in its the Borrowing Base Certificates and any other documents in connection therewith requested by the Agent Required Lenders including, without limitation, but only if specifically requested by the Required Lenders, copies of all invoices prepared in connection with such Accounts and all credit memoranda issued by such the Borrower (each the Borrower shall issue such credit memoranda in accordance with its current practice and without delay, but in any event within three (3) Business Days of receipt of notice of a dispute with respect to an Account).

Monthly Reports and Borrowing Base Certificates. The Borrowers shall submit to each Lender, not later than thirty (30) days after the end of each Fiscal Month, a report ("Monthly Report"), accompanied by a certificate in the form attached as EXHIBIT Exhibit 3.1, which shall be signed by the chief executive officer or the chief financial officer of the Borrower Representative. The Monthly Report shall be in form and substance satisfactory to the Agent and shall include, as of the last Business Day of such Fiscal Month (and with respect to the initial Monthly Report attached as EXHIBIT Exhibit 3.1-1, as of a date not more than two (2) Business Days prior to the Closing Date): (i) copies of all consolidated and consolidating operating statements for such Fiscal Month prepared for each Borrower for its internal use and other similar data as the Agent may reasonably request, (ii) an aged trial balance of Accounts of each Borrower ("Accounts Trial Balance") indicating which Accounts are current, up to 30, 30 to 60, 60 to 90, 90 to 120 and 120 days or more past the original invoice date and listing the names and addresses of all applicable Account Debtors, and (iii) a summary of accounts payable of each Borrower showing which accounts payable are current, up to 30, 30 to 60, 60 to 90 and 90 days or more past due and listing the names and addresses of applicable creditors. In addition, each Borrower shall deliver a Borrowing Base Certificate to the Agent and each Lender not later than the 3rd Business Day of each week for the preceding week (or such shorter period as the Agent may require). Each Borrower shall furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the Agent, concerning Accounts included, described or referred to in its Borrowing Base Certificates and any other documents in connection therewith requested by the Agent including, without limitation, but only if specifically requested by the Required Lenders, copies of all invoices prepared in connection with such Accounts and all credit memoranda issued by such Borrower (each Borrower shall issue such credit memoranda in accordance with its current practice and without delay, but in any event within three (3) Business Days of receipt of notice of a dispute with respect to an Account).

Monthly Reports and Borrowing Base Certificates. The Borrowers Borrower shall submit to each Lender, not later than thirty the twentieth (3020th) days after the end day of each Fiscal Monthmonth, a monthly report ("Monthly Report"), accompanied by a certificate in the form attached as EXHIBIT Exhibit 3.1, which shall be signed by the chief executive officer or the chief financial officer executive of the Borrower RepresentativeBorrower. The Monthly Report shall be in form and substance satisfactory to the Agent Required Lenders and shall include, as of the last Business Day of such Fiscal Month (and with respect to the initial Monthly Report attached as EXHIBIT 3.1-1, as of a date not more than two (2) Business Days prior to the Closing Date): preceding month: (i) copies of all consolidated and consolidating operating statements for such Fiscal Month prepared for each Borrower for its internal use and other similar data as the Agent may reasonably request, (ii) an aged trial balance of Accounts of each Borrower ("Accounts Trial Balance") indicating which Accounts are current, up to 30, 30 to 60, 60 to 90, 90 to 120 as described in subsection 7.1(iv)(a) and 120 days a payables report as described in subsection 7.1(iv)(b); and (ii) an aged schedule of Inventory owned by the Borrower and in the Borrower's possession valued at the lower of cost or more past the original invoice date and listing the names and addresses of market on a FIFO basis. The Borrower shall provide in all applicable Account DebtorsMonthly Reports, and (iii) a summary more frequently if requested by the Agent, in form satisfactory to the Agent, information on each of accounts payable the following occurrences arising subsequent to the immediately preceding Monthly Report: all sales or other reductions of each and all additions to Inventory, all returns of Inventory, and all credits issued by the Borrower, all complaints and claims against the Borrower showing which accounts payable are current, up to 30, 30 to 60, 60 to 90 and 90 days or more past due and listing the names and addresses of applicable creditorsin connection with Inventory. In addition, each the Borrower shall deliver a Borrowing Base Certificate to provide the Agent and each Lender with a borrowing base certificate ("Borrowing Base Certificate") summarizing Eligible Accounts and Eligible Inventory, in form and substance satisfactory to the Agent, each such Borrowing Base Certificate to be delivered to the Agent not later than the 3rd second Business Day of each week for the preceding week (or such shorter period as the Agent Required Lenders may require); provided that so long as (i) no Event of Default has occurred and is continuing, and (ii) Borrowing Availability equals or exceeds $10,000,000 as reflected on the last Borrowing Base Certificate delivered hereunder, Borrower shall deliver such Borrowing Base Certificates on the fifth Business Day of each month as of the last day of the preceding month. Each The Borrower shall furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the Agent, concerning Accounts included, 49 58 described or referred to in its the Borrowing Base Certificates and any other documents in connection therewith requested by the Agent including, without limitation, but only if specifically requested by the Required LendersAgent, copies of all invoices prepared in connection with such Accounts and all credit memoranda issued by such the Borrower (each the Borrower shall issue such credit memoranda in accordance with its current practice and without delay, but in any event within three five (35) Business Days of receipt of notice of a dispute with respect to an Account).