Notices Concerning Inventory Collateral. The Borrowers shall provide to the Administrative Agent prompt notice of (a) any physical count of any Borrower’s Inventory, together with a copy of the results thereof certified by the Borrowers, (b) any determination by the Borrowers that the aggregate Inventory levels of the Borrowers are not adequate to meet the sales projections of the Borrowers, and (c) any failure of any Credit Party to pay rent at any leased location where Inventory is located, which failure continues for more than ten (10) days following the day on which such payment rent is due and payable. Immediately following the occurrence thereof, the Credit Parties shall deliver to the Administrative Agent, in form and substance acceptable to the Administrative Agent and with such supporting detail, documentation and information as the Administrative Agent shall reasonably request regarding any changes to standard cost of any Eligible On-Hand Finished Goods Inventory, Eligible In-Transit Finished Goods Inventory or Eligible Raw Materials Inventory, including without limitation, changes to better reflect the actual cost of such Inventory. For the avoidance of doubt, any changes to the calculations of such standard cost and/or methodology for valuing any such Eligible Inventory shall not take effect the “Cost” of such Eligible Inventory for the purposes of calculating the Borrowing Base unless such changes are acceptable to the Administrative Agent (subject to Section 10.18).
Notices Concerning Inventory Collateral. The Borrowers shall provide to the Administrative Agent prompt notice of (a) any physical count of the inventory of any Borrower or any Subsidiary of a Borrower, together with a copy of the results thereof certified by such Borrower or such Subsidiary, (b) any determination by a Borrower or any Subsidiary of a Borrower that the inventory levels of such Borrower or such Subsidiary are not adequate to meet the projections in respect of pre-tax income of such Borrower or such Subsidiary, (c) details of all credit card arrangements to which any Borrower or any Subsidiary of a Borrower is from time to time a party, including details relating to such Borrower’s or such Subsidiary’s compliance with the terms of payment to the Bank of America Concentration Account of the proceeds of all credit card charges for sales by such Borrower or such Subsidiary, and (d) any failure of a Borrower or any Subsidiary of a Borrower to pay rent at any location, which failure continues for more than fifteen days following the day on which such rent is due and payable by such Borrower or such Subsidiary. If so requested by the Administrative Agent or any Lender, the Borrowers shall provide to the Administrative Agent or such Lender copies of all advertising by the Borrowers or any of their Subsidiaries including copies of all print advertising and duplicate tapes of all video and radio advertising.
Notices Concerning Inventory Collateral. The Company shall provide to the Agent prompt notice of any physical count of the Company's or any of the Restricted Subsidiaries' Inventory, together with a copy of the results thereof certified by the Company or such Restricted Subsidiary.
Notices Concerning Inventory Collateral. The Borrowers shall provide to the Administrative Agent prompt notice of (a) any physical count of any Borrower’s or any of its Subsidiaries’ inventory, together with a copy of the summary results thereof (and such other supporting information relating thereto as the Administrative Agent may reasonably request) certified by such Borrower or such Subsidiary, (b) any determination by any Borrower or any of its Subsidiaries that the inventory levels of such Borrower or such Subsidiary are not adequate to meet the sales projections of such Borrower or such Subsidiary, (c) details of all credit card arrangements to which any Borrower or any of it Subsidiaries is from time to time a party, including details relating to such Borrower’s or such Subsidiary’s compliance with the terms of payment to the Concentration Account (as required pursuant to §8.15) of the proceeds of all credit card charges for sales by such Borrower or such Subsidiary, and (d) any failure of any Borrower or any of its Subsidiaries to pay rent at any location, which failure continues for more than three days following the day on which such rent is due and payable by such Borrower or such Subsidiary (other than any rental payment being contested in good faith and by appropriate proceedings or any rental payment which otherwise, by itself or in the aggregate with all other such rental payments, would not have a Material Adverse Effect).
Notices Concerning Inventory Collateral. The Parent and the Borrower shall provide to the Administrative Agent prompt notice of (a) any quarterly physical count of the Parent's or any of its Subsidiaries' inventory, together with a copy of the results thereof certified by the Parent or such Subsidiary, (b) any determination by the Parent or any of its Subsidiaries that the inventory levels of the Parent or such Subsidiary are not adequate to meet the sales projections of the Parent or such Subsidiary, and (c) any failure of the Parent or any of its Subsidiaries to pay rent at any leased location, which failure continues for more than ten (10) days following the day on which such rent is due and payable by the Parent or such Subsidiary.
Notices Concerning Inventory Collateral. The Borrower shall provide to the Agent prompt notice of (i) any physical count of the Borrower's or any of its Subsidiaries' inventory, together with a copy of the results thereof certified by the Borrower or such Subsidiary, (ii) any determination by the Borrower or any of its Subsidiaries that the inventory levels of the Borrower or such Subsidiary are not adequate to meet the sales projections of the Borrower or such Subsidiary, and (iii) any failure of the Borrower or any of its Subsidiaries to pay rent at any location, which failure continues for more than five days following the day on which such rent is due and payable by the Borrower or such Subsidiary. If so requested by the Agent or any Bank, the Borrower shall provide to the Agent or such Bank copies of all advertising by the Borrower or any of its Subsidiaries including copies of all print advertising and duplicate tapes of all video and radio advertising.
Notices Concerning Inventory Collateral. The Credit Parties shall provide to the Administrative Agent prompt notice of (a) any physical count of any Credit Partys inventory, together with a copy of the results thereof certified by the Borrower, (b) any determination by the Credit Parties that the aggregate inventory levels of the Credit Parties are not adequate to meet the sales projections of the Credit Parties, and (c) any failure of any Credit Party to pay rent at any leased location where inventory is located, which failure continues for more than ten (10) days following the day on which such payment rent is due and payable.
Notices Concerning Inventory Collateral. The Borrower shall provide to the Administrative Agent prompt notice of (i) any physical count of the Borrower's or any of its Subsidiaries' inventory, together with a copy of the results thereof certified by the Borrower or such Subsidiary, (ii) any determination by the Borrower or any of its Subsidiaries that the inventory levels of the Borrower or such Subsidiary are not adequate to meet the sales projections of the Borrower or such Subsidiary, and (iii) any failure of the Borrower or any of its Subsidiaries to pay rent at any location where inventory of the Borrower having a value in excess of $500,000 is located, which failure continues for more than five (5) days following the day on which such rent is due and payable by the Borrower or such Subsidiary.
Notices Concerning Inventory Collateral. 58 9.6.5. Notice of Litigation and Judgments. 58 9.7. Corporate Existence; Maintenance of Properties. 58 9.8. Insurance. 59 9.9. Taxes. 59 9.10. Access. 59 9.11. Compliance with Laws, Contracts, Licenses, and Permits. 60 9.12. Employee Benefit Plans. 60 9.13. Fiscal Year. 60 9.14. Additional Significant Subsidiaries and Restricted Subsidiaries. 60 9.15. Ratings. 61 9.16. Agency Account Agreements. 61 9.17. Further Assurances. 61 10. CERTAIN NEGATIVE COVENANTS OF THE COMPANY. 61 10.1. Restrictions on Indebtedness. 62 10.2. Restrictions on Liens. 62 10.3. Restrictions on Investments. 64 10.4. Restricted Payments. 67 10.5. Merger, Consolidation and Disposition of Assets. 67 10.5.1. Mergers and Acquisitions. 67 10.5.2. Disposition of Assets. 68 10.6. Sale and Leaseback. 69 10.7. Compliance with Environmental Laws. 69 10.8. Subordinated Debt. 69 10.9. Employee Benefit Plans. 70 10.10. Business Activities. 70 10.11. Transactions with Affiliates. 70 10.12. Restrictions on Negative Pledges. 71 10.13. Cash Management. 71 10.14. Hedging Agreements. 71 11. FINANCIAL COVENANTS. 71 11.1. Minimum EBITDA. 71 11.2. Total Funded Debt to EBITDA. 72 11.3. Minimum Interest Coverage Ratio. 72 11.4. Capital Expenditures. 73 12. CONDITIONS TO EFFECTIVENESS. 73 12.1. Loan Documents, etc. 73 12.2. Performance, etc. 74 12.3. Certified Copies of Charter Documents. 74 12.4. Proof of Corporate Action. 74 12.5. Incumbency Certificates. 74 12.6. Proceedings and Documents. 74 12.7. Validity of Liens. 74 12.8. Certificates of Insurance. 75 12.9. Agency Account Agreements. 75 12.10. Legal Opinions. 75 12.11. Payment of Fees. 75 12.12. Legality of Transactions. 75
Notices Concerning Inventory Collateral. 61 9.6.5. Notice of Litigation and Judgments. 61 9.7. Corporate Existence; Maintenance of Properties.61 9.8.
