Common use of Visitation and Inspection Rights Clause in Contracts

Visitation and Inspection Rights. At any reasonable time and from time to time, upon reasonable notice and during normal business hours, permit any authorized representatives designated by the Retained Advisors, the Administrative Agent or the Majority Lenders to examine and make copies of and abstracts from the records and books of account of, and visit the properties, plants and facilities of, the Borrower and any of its Subsidiaries, and to discuss the affairs, finances and accounts of the Borrower and any of its Subsidiaries with any of their officers or directors and with their independent certified public accountants; provided that the Borrower may, if it so chooses, be present at or participate in any such discussion. Provide, and cause each of its Subsidiaries to provide, to the Retained Advisors, the Administrative Agent and the Majority Lenders reasonable access to information (including historical information and including information as to strategic planning, cash and liquidity management, operational and restructuring activities) and personnel, including, without limitation, regularly scheduled meetings with senior management and outside financial advisors to the Borrower and its Subsidiaries. After the Closing Date, if requested by the Administrative Agent, on Thursday (or the immediately succeeding Business Day if Thursday is not a Business Day) of each week (or, if agreed to by the Administrative Agent, every second week) , and on such other dates requested by the Administrative Agent on providing the Borrower with two (2) Business Days’ prior written notice, the Borrower shall provide the Administrative Agent and its advisors with an update (via a meeting or conference call with the Borrower’s senior management and/or its advisors) on the weekly financial information provided to the Board of Directors, the ongoing financial performance, operations and liquidity of the Borrower and its Subsidiaries and the progress toward a proposal for an amendment to or restructuring of the Obligations under the Prepetition Credit Agreement and the Senior Subordinated Notes.