Examples of Borrowing Base Obligor in a sentence
No Borrowing Base Obligor shall acquire or accept any Inventory on consignment or approval, and shall take all steps to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA.
Notwithstanding anything in this Agreement to the contrary, funds received from or held by (a) any Canadian Borrowing Base Obligor or any other Excluded Subsidiary shall be applied only to the payment of the Canadian Obligations or the German Obligations and (b) a German Borrower shall only be applied to the repayment of German Obligations of such German Borrower and, in each case, shall not be applied to the payment of the U.S. Obligations.
Each Borrowing Base Obligor shall conduct a physical inventory at least once per calendar year (and on a more frequent basis if requested by Agent when an Event of Default exists) and periodic cycle counts consistent with historical practices, and shall provide to Agent a report based on each such inventory and count promptly upon completion thereof, together with such supporting information as Agent may request.
Each Borrowing Base Obligor shall keep accurate and complete records of its Accounts, including all payments and collections thereon, and shall submit to Agent sales, collection, reconciliation and other reports in form satisfactory to Agent, on such periodic basis as Agent may request.
If an Account of any Borrowing Base Obligor includes a charge for any Taxes, Agent is authorized, in its discretion, to pay the amount thereof to the proper taxing authority for the account of such Borrowing Base Obligor and to charge Borrowing Base Obligors therefor; provided, however, that neither Agent nor Lenders shall be liable for any Taxes that may be due from Borrowing Base Obligors or with respect to any Collateral.
Discuss and consider the Election of four (4) members to the Texas Municipal League Intergovernmental Risk Pool Board of Trustees for Places 1 - 4.
Each Borrowing Base Obligor shall keep accurate and complete records of its Inventory, including costs and daily withdrawals and additions, and shall submit to Agent inventory and reconciliation reports in form satisfactory to Agent, on such periodic basis as Agent may request.
Whether or not a Default or Event of Default exists, Agent shall have the right at any time, in the name of Agent, any designee of Agent or any Borrowing Base Obligor, to verify the validity, amount or any other matter relating to any Accounts of Borrowing Base Obligors by mail, telephone or otherwise.
Neither Borrower nor any Borrowing Base Obligor is in default in the performance, observance or fulfillment of any of the obligations, covenants, or conditions contained in any agreement or instrument to which it is a party, which does or will in the foreseeable future materially and adversely affect its business or operations.
Notwithstanding anything to the contrary contained herein, proceeds of Collateral consisting of assets of, or payments by, (a) a Canadian Borrowing Base Obligor or any other Excluded Subsidiary shall only be applied to the repayment of Canadian Obligations or German Obligations and (b) a German Borrower shall only be applied to the repayment of German Obligations of such German Borrower.