Common use of REPORTING REGARDING INVENTORY Clause in Contracts

REPORTING REGARDING INVENTORY. Each Borrower will undertake a physical count of its Inventory at least once each fiscal year in accordance with procedures approved by Borrowers' independent certified public accountants and Agent. By no later than the 25th day after the end of each calendar month, each Borrower shall submit to Agent an inventory report reconciled to (i) the Borrowing Base Certificate for the end of such month, (ii) each Borrower's inventory records, and (iii) each Borrower's general ledger, broken down into such detail and with such categories as Agent shall reasonably require (including, but not limited to, a report indicating the type, location, and dollar value of each Borrower's Raw Materials, Work-in-Process, Pre- Owned Aircraft and Finished Goods Inventory, and all other information deemed necessary by Agent to determine levels of that which is and is not Eligible Inventory). Values shown on reports of Inventory shall be at the lower of cost or market value determined on the basis of average cost. Not less frequently than monthly, and more frequently if Agent shall require or a Borrower shall so elect, each Borrower shall deliver to Agent a Borrowing Base Certificate, and acceptable supporting documentation thereto, reporting the value of each Borrower's Inventory as of the end of the immediately preceding calendar month period for which any Borrower has provided an inventory report in accordance with this Section 8.4.

REPORTING REGARDING INVENTORY. Each Borrower will undertake a physical count of its Inventory at least once one time each fiscal calendar year in accordance with procedures approved by Borrowers' Borrower’s independent certified public accountants and Agent. By no later than the 25th 15th day after the end of each calendar month, each or sooner if available, Borrower shall submit to Agent an a perpetual inventory report (other than with respect to Raw Materials which will be reported by its standard roll-forward method) reconciled to (i) the Borrowing Base Certificate for the end of such month, (ii) each Borrower's ’s inventory records, and (iii) each Borrower's ’s general ledger, broken down into such detail and with such categories as Agent shall reasonably require (including, but not limited to, including a report indicating the type, location, and dollar value of each Borrower's ’s Raw Materials, Work-in-Process, Pre- Owned Aircraft WIP and Finished Goods Inventory, and all other information deemed necessary by Agent to determine levels of that which is and is not Eligible Inventory). Values shown on reports of Inventory shall be at the lower of cost or market value determined on the basis of average costin accordance with a “first in-first out” cost accounting system. Not less frequently than monthly, monthly (and more frequently if Borrower shall so elect or weekly if Agent shall require if the Revolving Credit Availability is, as of any time, less than $10,000,000 or a Borrower shall so electan Event of Default occurs and is continuing), each Borrower shall deliver to Agent a Borrowing Base Certificate, and acceptable supporting documentation thereto, by no later than the 15th day after the end of each calendar month, reporting the value of each Borrower's ’s Inventory as of the end of the immediately preceding calendar month period for which any Borrower has provided an inventory report (or, if more frequent reporting is in accordance with effect under this Section 8.48.4 as provided above, by the deadlines and based on the values then established by Agent).

REPORTING REGARDING INVENTORY. Each Borrower will undertake a physical count of its Inventory at least once one time each fiscal calendar year in accordance with procedures approved by Borrowers' Borrower’s independent certified public accountants and Agent. By no later than the 25th 15th day after the end of each calendar month, each or sooner if available, Borrower shall submit to Agent an a perpetual inventory report (other than with respect to Raw Materials which will be reported by its standard roll-forward method) reconciled to (i) the Borrowing Base Certificate for the end of such month, (ii) each Borrower's ’s inventory records, and (iii) each Borrower's ’s general ledger, broken down into such detail and with such categories as Agent shall reasonably require (including, but not limited to, including a report indicating the type, location, and dollar value of each Borrower's ’s Raw Materials, Work-in-Process, Pre- Owned Aircraft WIP and Finished Goods Inventory, and all other information deemed necessary by Agent to determine levels of that which is and is not Eligible Inventory). Values shown on reports of Inventory shall be at the lower of cost or market value determined on the basis of average costin accordance with a “first in-first out” cost accounting system. Not less frequently than monthly, monthly (and more frequently if Borrower shall so elect or weekly if Agent shall require if the Revolving Credit Availability is, as of any time, less than $5,000,000 or a Borrower shall so electan Event of Default occurs and is continuing), each Borrower shall deliver to Agent a Borrowing Base Certificate, and acceptable supporting documentation thereto, by no later than the 15th day after the end of each calendar month, reporting the value of each Borrower's ’s Inventory as of the end of the immediately preceding calendar month period for which any Borrower has provided an inventory report (or, if more frequent reporting is in accordance with effect under this Section 8.48.4 as provided above, by the deadlines and based on the values then established by Agent).

REPORTING REGARDING INVENTORY. Each Borrower will undertake a physical count of its Inventory at least once each fiscal calendar year in accordance with procedures approved by Borrowers' Borrower’s independent certified public accountants and Agent. By no later than the 25th 10th day after the end of each calendar month, each or sooner if available, Borrower shall submit to Agent an a perpetual inventory report reconciled to (ia) the Borrowing Base Certificate for the end of such month, (iib) each Borrower's ’s inventory records, and (iiic) each Borrower's ’s general ledger, broken down into such detail and with such categories as Agent shall reasonably require (including, but not limited to, including a report indicating the type, location, and dollar Dollar value of each Borrower's ’s Raw Materials, Work-in-Process, Pre- Owned Aircraft Materials and Finished Goods Inventory, and all other information deemed necessary by Agent to determine levels of that which is and is not Eligible Inventory). Values shown on reports of Inventory shall be at the lower of cost or market value determined on the basis of average costin accordance with a “first in-first out” cost accounting system. Not less frequently than monthly, and more frequently if Agent shall require or a Borrower shall so elect, each Borrower shall deliver to Agent Lender a Borrowing Base Certificate, and acceptable supporting documentation thereto, by no later than the 10th day of each month, reporting the value of each Borrower's ’s Inventory as of the end of the immediately preceding calendar month period for which any Borrower has provided an inventory report in accordance with this Section 8.4month.

REPORTING REGARDING INVENTORY. Each Borrower will undertake a an annual physical count of its Inventory at least once each fiscal year in accordance with procedures approved by Borrowers' independent certified public accountants and Agentaccountants. By no later than the 25th 15th day after the end of each calendar fiscal month, each Borrower shall submit to Agent Bank an inventory report reconciled to (i) the Borrowing Base Certificate for the end of such month, (ii) each Borrower's inventory records, and (iii) each Borrower's general ledger, broken down into such detail and with such categories as Agent Bank shall reasonably require (including, but not limited to, including a report indicating the type, location, and dollar value of each Borrower's Raw Materials, Work-in-Process, Pre- Owned Aircraft and Finished Goods and Raw Materials Inventory, and all other information deemed necessary by Agent Bank to determine levels of that which is and is not Eligible Inventory). Values shown on reports of Inventory shall be at the lower of cost or market value determined on the basis of average costin accordance with "first in first out" cost accounting system. Not less frequently than monthly, and more frequently if Agent Bank shall require or a Borrower shall so elect, each Borrower Borrowers shall deliver to Agent Bank a Borrowing Base Certificate, and acceptable supporting documentation thereto, reporting the value of each Borrower's Inventory as of the end of the immediately preceding calendar fiscal month period for which any the applicable Borrower has provided an inventory report in accordance with this Section 8.4.