Access and Examination. Until all of the Obligations have been indefeasibly paid in full and the Lender’s commitment to Borrower hereunder has terminated, the Lender shall have the right and the Borrower shall permit the Lender to, at all times upon two (2) Business Days’ notice (and at any time, without any notice, when a Default or Event of Default exists), during normal business hours, (i) to examine, audit, make extracts from or copies of and inspect any and all of the Borrower’s books, records, files concerning or mentioning the Collateral and/or the Collateral Proceeds, (ii) to discuss the Borrower’s affairs with the Borrower’s officers and management (iii) be given access, during normal business hours, to any and all of the Borrower’s computer hardware or software, whether maintained by the Borrower, or third Persons on the Borrower’s behalf, that pertains to or reflects, such records and (iv) permit the Lender to inspect the Collateral or any part thereof at such place as the Collateral may be held or located or at such other reasonable place. At such time or times as the Lender may request, the Borrower will, at its cost and expense, prepare a list or lists in such form as shall be satisfactory to the Lender, certified by a duly authorized officer/manager of the Borrower, describing in such reasonable detail as the Lender shall require, the Collateral, and specifying the location of the Collateral and the Borrower records pertaining thereto.
Appears in 2 contracts
Sources: Loan and Security Agreement (Genius Brands International, Inc.), Loan and Security Agreement (Genius Brands International, Inc.)
Access and Examination. Until all of the Obligations have been indefeasibly paid in full The Collateral Agent, accompanied by any Lender which so elects, may upon reasonable advance notice and the Lender’s commitment to Borrower hereunder has terminatedat reasonable times during regular business hours, the Lender shall have the right and the Borrower shall permit the Lender to, at all times upon two (2) Business Days’ notice (and at any time, without any notice, time when a Default or an Event of Default exists), during normal business hourshave access to, (i) to examine, audit, make extracts from or copies of of, and inspect any and or all of the Borrower’s books, Loan Parties’ records, files concerning or mentioning the Collateral and/or the Collateral Proceedsfiles, (ii) to discuss the Borrower’s affairs with the Borrower’s officers and management (iii) be given access, during normal business hours, to any books of account and all of the Borrower’s computer hardware or software, whether maintained by the Borrower, or third Persons on the Borrower’s behalf, that pertains to or reflects, such records and (iv) permit the Lender to inspect the Collateral or any part thereof at such place as the Collateral may be held or located or at such other reasonable place. At such time or times as the Lender may request, the Borrower will, at its cost and expense, prepare a list or lists in such form as shall be satisfactory to the Lender, certified by a duly authorized officer/manager of the Borrower, describing in such reasonable detail as the Lender shall require, the Collateral, and specifying discuss the location Loan Parties’ affairs with the Loan Parties’ officers and senior management; provided that such access, examinations, audits and inspections shall be limited to two instances in any calendar year. The Loan Parties will deliver to the Collateral Agent any instrument necessary for the Collateral Agent to obtain records from any service bureau maintaining records for the Loan Parties. The Collateral Agent may, and at the direction of the Majority Lenders shall, at any time when an Event of Default exists, and at the Loan Parties’ expense, make copies of all of the Loan Parties’ books and records, or require the Loan Parties to deliver such copies to the Collateral Agent. Upon reasonable request to senior management of Metals USA, the Collateral Agent may, without expense to the Collateral Agent, use such of the Loan Parties’ respective personnel, supplies, and premises as may be reasonably necessary for maintaining or enforcing the Collateral Agent’s Liens. The Collateral Agent shall have the right, at any time, in the Collateral Agent’s name or in the name of a nominee of the Collateral and Agent, to verify the Borrower records pertaining theretovalidity, amount, or any other matter relating to the Accounts, Inventory, or other Collateral, by mail, telephone, or otherwise; provided, however, in the absence of an Event of Default, the Collateral Agent agrees that it will not attempt to verify more than ten (10) Accounts each month.
Appears in 2 contracts
Sources: Loan and Security Agreement (FLAG INTERMEDIATE HOLDINGS Corp), Loan and Security Agreement (Metals Usa Holdings Corp.)
Access and Examination. Until (a) The Agent, accompanied by any Lender which so elects, may at all of the Obligations reasonable times have been indefeasibly paid in full and the Lender’s commitment to Borrower hereunder has terminated, the Lender shall have the right and the Borrower shall permit the Lender access to, at all times upon two (2) Business Days’ notice (and at any time, without any notice, when a Default or Event of Default exists), during normal business hours, (i) to examine, audit, make extracts from or copies of and inspect either Borrower's records, files, and books of account and the Collateral and may discuss such Borrower's affairs with such Borrower's officers and management. Such Borrower shall deliver to the Agent any instrument necessary for the Agent to obtain records from any service bureau maintaining records for such Borrower. The Agent may, at any time when an Event of Default exists and at either Borrower's expense, make copies of all of such Borrower's books and records, or require such Borrower to deliver such copies to the Agent. The Agent may, without expense to the Agent, use such of either Borrower's personnel, supplies, and Premises as may be reasonably necessary for maintaining or enforcing the Security Interest. The Agent shall have the right, at any time, in the Agent's name or in the name of a nominee of the Agent, to verify the validity, amount or any other matter relating to the Accounts, by mail, telephone, or otherwise.
(b) Each Borrower agrees that, subject to such Borrower's prior consent for uses other than in a traditional tombstone, which consent shall not be unreasonably withheld or delayed, the Agent and each Lender may use the Borrower’s books, records, files concerning 's name in advertising and promotional material and in conjunction therewith disclose the general terms of this Agreement. The Agent and each Lender agree to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as "confidential" or mentioning the Collateral and/or the Collateral Proceeds, (ii) to discuss the Borrower’s affairs with the Borrower’s officers and management (iii) be given access, during normal business hours, to any and all of the Borrower’s computer hardware or software, whether maintained "secret" by the Borrower, or third Persons on the Borrower’s behalf, that pertains to or reflects, such records Borrower and (iv) permit the Lender to inspect the Collateral or any part thereof at such place as the Collateral may be held or located or at such other reasonable place. At such time or times as the Lender may request, the Borrower will, at its cost and expense, prepare a list or lists in such form as shall be satisfactory provided to the Lender, certified Agent or such Lender by a duly authorized officer/manager or on behalf of the Borrower, describing in such reasonable detail as the Lender shall require, the Collateralunder this Agreement or any other Loan Document, and specifying neither the location Agent nor such Lender nor any of their respective Affiliates shall use any such information other than in connection with or in enforcement of this Agreement and the other Loan Documents, except to the extent that such information (i) was or becomes generally available to the public other than as a result of disclosure by the Agent or such Lender, or (ii) was or becomes available oil a nonconfidential basis from a source other than the Borrower, provided that such source is not bound by a confidentiality agreement with the Borrower known to the Agent or such Lender; PROVIDED, HOWEVER, that the Agent and any Lender may disclose such information (1) at the request or pursuant to any requirement of any Governmental Authority to which the Agent or such Lender is subject or in connection with an examination of the Collateral Agent or such Lender by any such Governmental Authority; (2) pursuant to subpoena or other court process; (3) when required to do so in accordance with the provisions of any applicable requirement of law; (4) to the extent reasonably required in connection with any litigation or proceeding (including any bankruptcy proceeding) to which the Agent, any Lender or their respective Affiliates may be a party; (5) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (6) to the Agent's or such Lender's independent auditors, accountants, attorneys and other professional advisors, provided that such auditors, accountants, attorneys and other advisors agree to keep such information confidential to the same extent required of the Agent and the Lenders hereunder; (7) to any Affiliate of the Agent or such Lender, or to any prospective Participating Lender or assignee under any Assignment and Acceptance, actual or potential, provided that such Affiliate, prospective Participating Lender or assignee agrees to keep such information confidential to the same extent required of the Agent and the Lenders hereunder; and (8) as expressly permitted under the terms of any other document or agreement regarding confidentiality to which the Borrower records pertaining theretois a party or is a deemed a party with the Agent or such Lender.
Appears in 1 contract
Access and Examination. Until all of the Obligations have been indefeasibly paid in full and the Lender’s commitment to Borrower hereunder has terminated, the Lender shall have the right and the Borrower shall permit the Lender to, The Agent may at all reasonable times upon two (2) Business Days’ notice on a quarterly basis and during regular business hours (and at any time, without any notice, time and frequency when a Default or Event of Default exists)exists and is continuing) have access to, during normal business hours, (i) to examine, audit, make extracts from or copies of and inspect any and or all of the Borrower’s books, Grantor's records, files concerning or mentioning the Collateral and/or the Collateral Proceedsfiles, (ii) to discuss the Borrower’s affairs with the Borrower’s officers and management (iii) be given access, during normal business hours, to any books of account and all of the Borrower’s computer hardware or software, whether maintained by the Borrower, or third Persons on the Borrower’s behalf, that pertains to or reflects, such records and (iv) permit the Lender to inspect the Collateral or any part thereof at such place as the Collateral may be held or located or at such other reasonable place. At such time or times as the Lender may request, the Borrower will, at its cost and expense, prepare a list or lists in such form as shall be satisfactory to the Lender, certified by a duly authorized officer/manager of the Borrower, describing in such reasonable detail as the Lender shall require, the Collateral, and specifying discuss the location Grantor's affairs with the Grantor's officers and management. The foregoing may be accomplished by Agent's own employees or its agents or independent contractors, accompanied by any Lender which so elects, and shall, to the extent expenses are reasonable, be at the sole expense of Grantor. The Grantor will deliver to the Agent any instrument necessary for the Agent to obtain records from any service bureau maintaining financial records for the Grantor. The Agent may, and at the direction of the Collateral Required Lenders shall, at any time when a Default or Event of Default exists, and at the Borrower records pertaining theretoGrantor's expense, make copies of all of the Grantor's books and records, or require the Grantor to deliver such copies to the Agent. The Agent may, during the continuance of an Event of Default, and at the sole expense of the Grantor, use such of the Grantor's respective personnel, supplies, and Real Estate as may be reasonably necessary for maintaining or enforcing the Agent's Liens. The Agent shall have the right to contact Account Debtors, warehousemen, bailees and similar third Persons, at any time, in the name of a nominee of the Agent (and when an Event of Default exists and is continuing, in Agent's name), to verify the validity, amount or any other matter relating to the Accounts, Inventory, or other Collateral, by mail, telephone, or otherwise.
Appears in 1 contract
Sources: Security Agreement (3com Corp)
Access and Examination. Until The Lenders' Agent, accompanied by any Lender which so elects, may at all reasonable times and from time to time (not to exceed four times each year, absent a continuing Event of the Obligations Default) have been indefeasibly paid in full and the Lender’s commitment to Borrower hereunder has terminated, the Lender shall have the right and the Borrower shall permit the Lender access to, at all times upon two (2) Business Days’ notice (and at any time, without any notice, when a Default or Event of Default exists), during normal business hours, (i) to examine, audit, make extracts from and inspect the records, files, and books of account of the Option Care Persons and the Collateral and may discuss the affairs of the Option Care Persons with the officers and management of the Option Care Persons, except to the extent prohibited by applicable statutes or regulations with respect to patients' records. Each Option Care Person shall deliver to the Lenders' Agent any instrument necessary for the Lenders' Agent to obtain records from any service bureau maintaining records for any Option Care Person. The Lenders' Agent may, and at the direction of the Majority Lenders shall, at the reasonable expense of the Option Care Persons, make copies of and inspect any and all of the Borrower’s booksbooks and records of the Option Care Persons, recordsor require the Option Care Persons to deliver such copies to the Lenders' Agent. The Lenders' Agent may, files concerning without expense to the Lenders' Agent or mentioning the Collateral and/or Lenders, use such of the Collateral Proceedspersonnel, (ii) to discuss supplies, and Premises of the Borrower’s affairs with Option Care Persons as may be reasonably necessary and appropriate for maintaining or enforcing the Borrower’s officers and management (iii) be given accessSecurity Interest. The Lenders' Agent shall have the right, during normal business hoursat any time, in name of the Lenders' Agent or in the name of a nominee of the Lenders' Agent, to verify the validity, amount or any and all of other matter relating to the Borrower’s computer hardware Accounts, Inventory or softwareother Collateral, whether maintained by the Borrowermail, telephone, or third Persons on the Borrower’s behalf, that pertains to or reflects, such records and (iv) permit the Lender to inspect the Collateral or any part thereof at such place as the Collateral may be held or located or at such other reasonable place. At such time or times as the Lender may request, the Borrower will, at its cost and expense, prepare a list or lists in such form as shall be satisfactory to the Lender, certified by a duly authorized officer/manager of the Borrower, describing in such reasonable detail as the Lender shall require, the Collateral, and specifying the location of the Collateral and the Borrower records pertaining theretootherwise.
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