Access to Certain Documentation and Information Regarding the Loans. The Borrower, the Servicer or the Collateral Custodian, as applicable, shall provide to the Deal Agent and each Lender Agent access to the Loan Documents and all other documentation regarding the Loans included as part of the Collateral and the Related Property in such cases where the Deal Agent and each Lender Agent is required in connection with the enforcement of the rights or interests of the Lenders, or by applicable statutes or regulations, to review such documentation, such access being afforded without charge but only (i) upon two Business Days’ prior written request, (ii) during normal business hours and (iii) subject to the Servicer’s and the Collateral Custodian’s normal security and confidentiality procedures. From and after the Closing Date and periodically thereafter at the discretion of the Deal Agent and each Lender Agent, the Deal Agent and each Lender Agent or their respective agents may review the Borrower’s and the Servicer’s collection and administration of the Transferred Loans in order to assess compliance by the Servicer with the Servicer’s written policies and procedures, as well as with this Agreement and may conduct an audit of the Loans, Loan Documents and Records in conjunction with such a review. Such review shall be reasonable in scope and shall be completed in a reasonable period of time. The Borrower shall bear the cost of such audits; provided, however, that prior to the date on which a Termination Event shall have occurred and be continuing, the Borrower shall not be required to bear the cost of more than two audits in any 12-month period; and provided, further, that each Lender Agent agrees to cooperate with the Deal Agent in coordinating the timing and scope of such audits.
Appears in 4 contracts
Sources: Loan Funding and Servicing Agreement (American Capital Strategies LTD), Loan Funding and Servicing Agreement (American Capital Strategies LTD), Loan Funding and Servicing Agreement (American Capital, LTD)
Access to Certain Documentation and Information Regarding the Loans. The Borrower, the Servicer or the Collateral CustodianTrustee, as applicable, shall provide to the Deal Agent and each Lender Agent access to the Loan Documents and all other documentation regarding the Loans included as part of the Collateral and the Related Property in such cases where the Deal Agent and each or such Lender Agent is required in connection with the enforcement of the rights or interests of the Lenders, or by applicable statutes or regulations, to review such documentation, such access being afforded without charge (in respect of the Borrower or the initial Servicer) but only (i) upon two Business Days’ prior written request, (ii) during normal business hours and (iii) subject to the Servicer’s and the Collateral CustodianTrustee’s normal security and confidentiality procedures. From and after the Closing Date and periodically thereafter at the discretion of the Deal Agent and each Lender Lender, the Agent, the Deal Agent and each Lender Agent or their respective agents may review the Borrower’s and the Servicer’s collection and administration of the Transferred Loans in order to assess compliance by the Servicer with the Servicer’s written policies and procedures, as well as with this Agreement and may conduct an audit of the Loans, Loan Documents and Records in conjunction with such a review. Such review shall be reasonable in scope and shall be completed in a reasonable period of time. The Borrower shall bear the cost of such audits; provided, however, provided that prior to the date on which a Termination Event shall have occurred and be continuing, the Borrower shall not be required to bear the cost of more than two audits one audit in any 12-month period; and provided, further, that each Lender Agent agrees to cooperate with the Deal Agent in coordinating the timing and scope of such audits.
Appears in 2 contracts
Sources: Loan Funding and Servicing Agreement (Kohlberg Capital CORP), Loan Funding and Servicing Agreement (Kohlberg Capital CORP)
Access to Certain Documentation and Information Regarding the Loans. The Borrower, the Servicer or the Collateral CustodianTrustee, as applicable, shall provide to the Deal Agent and each Lender Agent access to the Loan Documents and all other documentation regarding the Loans included as part of the Collateral and the Related Property in such cases where the Deal Agent and each or such Lender Agent is required in connection with the enforcement of the rights or interests of such Lender or of the Agent on behalf of the Lenders, or by applicable statutes or regulations, to review such documentation, such access being afforded without charge but only (i) upon two Business Days’ prior written request, (ii) during normal business hours and (iii) subject to the Servicer’s and the Collateral CustodianTrustee’s normal security and confidentiality procedures. From and after the Closing Date and periodically thereafter at the discretion of the Deal Agent and each Lender Agentor if the Agent is so directed by any Lender, the Deal Agent and each Lender Agent or their its respective agents may review the Borrower’s and the Servicer’s collection and administration of the Transferred Loans in order to assess compliance by the Servicer with the Servicer’s written policies and procedures, as well as with this Agreement and may conduct an audit of the Loans, Loan Documents and Records in conjunction with such a review. Such review shall be reasonable in scope and shall be completed in a reasonable period of time. The Borrower shall bear the cost of such audits; provided, however, however that prior to the date on which a Termination Event shall have occurred and be continuing, the Borrower shall not be required to bear the cost of more than two audits one audit in any 12-month period; and provided, further, that each Lender Agent agrees to cooperate with the Deal Agent in coordinating the timing and scope of such audits.
Appears in 1 contract
Sources: Loan Funding and Servicing Agreement (Patriot Capital Funding, Inc.)
Access to Certain Documentation and Information Regarding the Loans. The Borrower, the Servicer Borrower or the Collateral CustodianServicer, as applicable, shall provide to the Deal Administrative Agent and each Lender Managing Agent access to the Loan Documents and all other documentation regarding the Loans included as part of the Collateral and the Related Property in such cases where the Deal Agent and each Lender Agent is required in connection with the enforcement of the rights or interests of the Lenders, or by applicable statutes or regulations, to review such documentationProperty, such access being afforded without charge but (but, unless an Event of Default has occurred and is continuing, only one time each fiscal year) and only (i) upon two Business Days’ reasonable prior written requestnotice, (ii) during normal business hours and (iii) subject to the Servicer’s and the Collateral Custodian’s normal security and confidentiality procedures, including Section 12.12. From and after the Closing Effective Date and periodically thereafter (but no more often than annually unless an Event of Default has occurred and continuing) at the discretion of the Deal Agent and each Lender Administrative Agent, the Deal Agent Administrative Agent, on behalf of and with the input of each Lender Agent Managing Agent, and their representatives, examiners, auditors or their respective agents consultants may review the Borrower’s and the Servicer’s collection and administration of the Transferred Loans in order to assess compliance by the Servicer with the Servicer’s written policies and procedures, as well as with this Agreement and may conduct (or commission) an audit of the Transferred Loans, Loan Documents and Records in conjunction with such a review. Such review , which audit shall be reasonable in scope and shall be completed in a reasonable period of timetime and shall be at the expense of the Servicer and, unless an Event of Default has occurred and is continuing, only one time each fiscal year; provided that any third-party auditor conducting such review shall be acceptable to the Administrative Agent and the Borrower (it being agreed upon that Protiviti, Inc. is an acceptable third-party auditor). The Administrative Agent may also conduct an audit of the Transferred Loans, Loan Documents and Records in conjunction with such a review. The Borrower shall bear the cost of such reviews and audits; , provided, howeverthat, that prior to the date on which a Termination as long as no Event shall have of Default has occurred and be continuing, the Borrower shall not be required subject to bear the cost of more than two audits in one such review per annum. From time to time, the Borrower shall provide to the Administrative Agent electronic copies of any 12-month period; and provided, further, that each Lender Loan Documents requested by the Administrative Agent agrees to cooperate with the Deal Agent in coordinating the timing and scope within three Business Days of such auditsrequest.
Appears in 1 contract