Recordkeeping; Physicals Clause Samples
The "Recordkeeping; Physicals" clause requires parties to maintain accurate and up-to-date records related to certain activities, such as employment, health, or compliance matters, and may also mandate periodic physical examinations. In practice, this means employers or organizations must keep detailed documentation of relevant events or statuses and ensure that individuals undergo required physical assessments at specified intervals. The core function of this clause is to ensure compliance with legal, regulatory, or contractual standards, facilitate monitoring, and provide a clear record in case of disputes or audits.
Recordkeeping; Physicals. Each Company shall keep separate records of its Inventory, Trailer Inventory, ▇▇▇▇ and Hold Inventory and Apex Trailer Inventory, which records shall be complete and accurate and complete in all material respects. Borrowers shall furnish to Agent separate Inventory, Trailer Inventory and ▇▇▇▇ and Hold Inventory reports for each Company concurrently with the delivery of each Borrowing Base Certificate described in subsection 8.1.4 or more frequently as reasonably requested by Agent, which reports will be in such other format and detail as Agent shall reasonably request and shall include a current list separately sharing all locations of such Company's Inventory, Trailer Inventory and ▇▇▇▇ and Hold Inventory. Each Company shall conduct a physical inventory no less frequently than annually (or, if an Event of Default is in existence, quarterly if so requested by Agent), and, in each case, shall provide to Agent a report based on each such physical inventory promptly thereafter, together with such supporting information as Agent shall reasonably request.
Recordkeeping; Physicals. Each Company shall keep separate records of its Inventory, Trailer Inventory, ▇▇▇▇ and Hold Inventory and Apex Trailer Inventory, which records shall be complete and accurate and complete in all material respects. Borrowers shall furnish to Agent separate Inventory, Trailer Inventory and ▇▇▇▇ and Hold Inventory reports for each Company concurrently with the delivery of each Borrowing Base Certificate described in subsection 8.1.4, which reports will be in such other format and detail as Agent shall reasonably request. Each Company shall conduct a physical inventory no less frequently than annually (or, if an Event of Default is in existence, quarterly if so requested by Agent), and, in each case, shall provide to Agent a report based on each such physical inventory promptly thereafter, together with such supporting information as Agent shall reasonably request.
Recordkeeping; Physicals. Each Company shall keep separate records of its Inventory and Trailer Inventory, which records shall be complete and accurate and complete in all material respects. Borrowers shall furnish to Agent separate Inventory and Trailer Inventory reports for each Company concurrently with the delivery of each Borrowing Base Certificate described in subsection 8.1.4, which reports will be in such other format and detail as Agent shall reasonably request. Each Company shall conduct a physical inventory no less frequently than annually (or, if an Event of Default is in existence, quarterly if so requested by Agent), and, in each case, shall provide to Agent a report based on each such physical inventory promptly thereafter, together with such supporting information as Agent shall reasonably request.