Reports, Collateral Audits; Access Sample Clauses

Reports, Collateral Audits; Access. 3.7.1 If requested by Seattle Bank at any time, Customer will furnish to Seattle Bank an audit report prepared in accordance with generally accepted auditing standards by an external auditor acceptable to Seattle Bank, certifying the book value of the Eligible Collateral owned by Customer. If requested by Seattle Bank at any time, Customer will furnish to Seattle Bank a written report covering such matters regarding Eligible Collateral as Seattle Bank may require, including without limitation a listing of mortgages comprising Eligible Mortgage Collateral or loans comprising Eligible CFI Collateral, the unpaid principal balances thereof, the status of payments thereon and of taxes and insurance on the property encumbered thereby; securities and the publicly listed market value thereof, and any other information requested by Seattle Bank regarding the Eligible Collateral. Customer will give Seattle Bank access at all reasonable times to Collateral in Customer’s possession and to Customer’s books and records of account relating to such Collateral, for the purpose of Seattle Bank’s examining, verifying or reconciling the Collateral and Customer’s report to Seattle Bank thereon.
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Reports, Collateral Audits; Access. (a) The Member shall furnish to the Bank annually, and at such times as the Bank may request, an audit report with respect to the Member’s Collateral, Qualifying Collateral, and Collateral Maintenance Level prepared by the Member’s external auditor, in accordance with generally accepted auditing standards, and in form and substance acceptable to the Bank.
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Reports, Collateral Audits; Access. (A) The Member shall furnish to the Bank annually, and at such other times as the Bank may request, an audit report with respect to the Member’s Collateral and Qualifying Collateral, prepared by the Member’s internal or external auditor and in form and substance acceptable to the Bank, and such financial reports and other information relating to the Member’s financial condition as the Bank may reasonably request.
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Reports, Collateral Audits; Access. (A) If the Fair Market Value of Qualifying Collateral owned by the Member, free and clear of any liens or encumbrances, shall at any time fall below the Collateral Maintenance Level, the Member shall immediately notify the FHLBNY. The Member shall furnish to the FHLBNY annually, and at such other times as the FHLBNY may request, an audit report prepared by the Member’s external auditor in accordance with generally accepted auditing standards certifying that the Member owns, free and clear of any liens or encumbrances, Qualifying Collateral with a Fair Market Value at least equal to the Collateral Maintenance Level. If the Member is required to specify or deliver Collateral pursuant to Sections 3.04 or 3.05 hereof, such audit report shall refer only to Qualifying Collateral that is so specified or is held by the FHLBNY as of the date of such audit report. If requested by the FHLBNY, the Member shall furnish to the FHLBNY a written report covering such matters regarding the Collateral as the FHLBNY may require, including listing of mortgages, securities, and unpaid principal balances thereof; and certifications concerning the status of payments on mortgages, securities, and unpaid principal balances thereof; and certifications concerning the status of payments on mortgages and of taxes and insurance on property securing mortgages. If so requested by the FHLBNY, the Member shall promptly report to the FHLBNY any event which reduces the principal balance of any mortgage or security by five percent (5%) or more, whether by prepayment, foreclosure sale, insurance or guaranty payment or otherwise. The Member shall give the FHLBNY access at all reasonable times to Collateral in the Member’s possession and to the Member’s books and records of account relating to such Collateral, for the purpose of the FHLBNY’s examining, verifying or reconciling the Collateral and the Member’s report to the FHLBNY thereon.
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Related to Reports, Collateral Audits; Access

  • Collateral Audits Permit the Bank or its agents to perform audits of the Collateral. The Borrower shall compensate the Bank for such audits in accordance with the Bank's schedule of fees as amended from time to time.

  • Collateral Audit The Administrative Agent shall have completed an initial collateral audit on or prior to the Closing Date.

  • Agreements Regarding Collateral and Field Examination Reports (ll) Lien Releases;

  • Audit and Collateral Monitoring Fees The Borrowers acknowledge that pursuant to Section 7.01(f), representatives of the Agents may visit any or all of the Loan Parties and/or conduct certain audits, inspections, appraisals, valuations and/or field examinations for which the Borrowers will be obligated to reimburse expenses of the Agents and such representatives. The Borrowers agree to pay such expenses, which shall be calculated on the basis of (i) $1,000 per day per examiner plus the examiner’s reasonable out-of-pocket costs and expenses incurred in connection with all such visits, audits, inspections, appraisals, valuations and field examinations, (ii) a supervisory review fee of $1,300 per each such audit, inspection, valuation or field examination and (iii) the cost of all visits, audits, inspections, appraisals, valuations and field examinations conducted by a third party on behalf of the Agents. Notwithstanding the foregoing, so long as no Event of Default shall have occurred and be continuing, the Borrowers shall not be obligated to pay the fees, costs and expenses for more than three (3) such audits, inspections, valuations and/or field examinations described in clauses (i), (ii) and (iii), in each case conducted during each consecutive twelve (12) month period during the term of this Agreement, provided that Borrowers acknowledge that Administrative may elect to conduct such three (3) audits, inspections, valuations or field examinations with respect to Borrowers during any such consecutive twelve (12) month period at different times, and further provided that, nothing contained in this sentence or otherwise in this Agreement limiting Borrowers’ obligations to pay the fees, costs and expenses of such audits, inspections, valuations or field examinations shall limit the rights of Agents pursuant to the first sentence of this Section 2.06(f) and Section 7.01(f), in each case, if conducted at their own expense. In addition, (x) at any time after the first anniversary of this Agreement, Administrative Agent, acting in its Permitted Discretion, may elect to reduce the number of audits, inspections, valuations and/or field examinations per twelve (12) month period with respect to which Borrowers shall be liable for the fees, costs and expenses thereof (absent the existence of any Event of Default) from three (3) to two (2) if, to the extent and only continuing for so long as such reduction is consistent with Administrative Agent’s governmental regulatory requirements and generally applicable internal policies, and (y) absent the existence of any Event of Default, Agent, acting in its Permitted Discretion, shall use commercially reasonable efforts to endeavor to schedule its periodic audits, inspections, valuations and/or field examinations in a manner to minimize any adverse impact on the operations of Loan Parties to the extent consistent with Administrative Agent’s governmental regulatory requirements and generally applicable internal policies.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Maintaining Records; Access to Properties and Inspections; Maintenance of Ratings (a) Keep proper books of record and account in which full, true and correct entries in conformity with GAAP and all requirements of law are made of all dealings and transactions in relation to its business and activities. Each Loan Party will, and will cause each of its subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the financial records and the properties of such Person at reasonable times and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any representatives designated by the Administrative Agent or any Lender to discuss the affairs, finances and condition of such Person with the officers thereof and independent accountants therefor.

  • Field Examinations At the Administrative Agent’s sole option, the Administrative Agent shall have completed its field examinations of the Borrower’s books and records, assets, and operations which examinations will be satisfactory to the Administrative Agent in its sole and absolute discretion.

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

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