Common use of Notice of Milestone Achievement and Audit Clause in Contracts

Notice of Milestone Achievement and Audit. If the Borrower wishes to draw the Second Borrowing, then the Borrower shall have delivered to the Lenders a notice certifying achievement of the Second Borrowing Milestone no later than 60 days after achieving such milestone, and the Lenders shall have been reasonably satisfied with the results of its audit of the Borrower’s Revenue by examining the Borrower’s books and records within 30 days following the delivery of such notice.

Notice of Milestone Achievement and Audit. If the Borrower wishes to draw the Second Borrowing, then the Borrower shall have delivered to the Lenders a notice certifying achievement of the Second Borrowing Milestone no later than 60 45 days after achieving such milestone, which notice shall demonstrate in reasonable detail such achievement and be accompanied by such financial information supporting such certification as may be reasonably requested by the Lenders shall have been reasonably satisfied with the results of its audit of the Borrower’s Revenue by examining the Borrower’s books and records within 30 days following the delivery of such noticeLenders.