Common use of Requested Appraisals Clause in Contracts

Requested Appraisals. The US Borrower shall, and shall cause each of its Subsidiaries to, cooperate with the US Administrative Agent, or its designee, in order for an industry recognized third party appraiser engaged and directed by the US Administrative Agent to conduct, all upon reasonable notice and at reasonable times during normal business hours (unless an Event of Default is continuing), an appraisal solely for the benefit of the US Administrative Agent and the US Facility Lenders but at the Credit Parties’ sole cost and expense, which written appraisal may cover information as reasonably requested by the US Administrative Agent, including, but not limited to, a detailed net orderly liquidation value for machinery, parts, Equipment, other fixed assets and Inventory of the US Borrower and the other Credit Parties, together with a specified procedures letter from such appraiser satisfactory to the US Administrative Agent; provided that, unless an Event of Default has occurred and is continuing, and subject to clause (c) below, only one such appraisal may be performed per fiscal year.

Requested Appraisals. (i) The US Borrower shall, and shall cause each of its Domestic Subsidiaries to, cooperate with the US Administrative Agent, or its designee, in order for an industry recognized third party appraiser engaged and directed by the US Administrative Agent to conduct, all upon reasonable notice and at reasonable times during normal business hours (unless an Event of Default is continuing), an appraisal solely for the benefit of the US Administrative Agent and the US Facility Lenders but at the US Credit Parties’ sole cost and expense, which written appraisal may cover information as reasonably requested by the US Administrative Agent, including, but 105 not limited to, a detailed net orderly liquidation value for machinery, parts, Equipment, other fixed assets and Inventory of the US Borrower and the other US Credit Parties, together with a specified procedures letter from such appraiser satisfactory to the US Administrative Agent; provided that, (i) such request by the US Administrative Agent may be made only if an Event of Default has occurred and is continuing or the Leverage Ratio as of the end of any fiscal quarter is greater than 2.00 to 1.00, and (ii) unless an a Specified Event of Default has occurred and is continuing, and subject to clause (c) below, only one such appraisal may be performed per fiscal year.

Requested Appraisals. (i) The US Borrower shall, and shall cause each of its Domestic Subsidiaries to, cooperate with the US Administrative Agent, or its designee, in order for an industry recognized third party appraiser engaged and directed by the US Administrative Agent to conduct, all upon reasonable notice and at reasonable times during normal business hours (unless an Event of Default is continuing), an appraisal solely for the benefit of the US Administrative Agent and the US Facility Lenders but at the US Credit Parties’ sole cost and expense, which written appraisal may cover information as reasonably requested by the US Administrative Agent, including, but not limited to, a detailed net orderly liquidation value for machinery, parts, Equipment, other fixed assets and Inventory of the US Borrower and the other US Credit Parties, together with a specified procedures letter from such appraiser satisfactory to the US Administrative Agent; provided that, (i) such request by the US Administrative Agent may be made only if an Event of Default has occurred and is continuing or the Leverage Ratio as of the end of any fiscal quarter is greater than 2.00 to 1.00, and (ii) unless an a Specified Event of Default has occurred and is continuing, and subject to clause (c) below, only one such appraisal may be performed per fiscal year.