Common use of Access to Pledged Collateral, Books and Records; Other Information Clause in Contracts

Access to Pledged Collateral, Books and Records; Other Information. Subject to Section 5.07 of the Credit Agreement, each Pledgor shall permit representatives of the Collateral Agent and the Administrative Agent upon two Business Day’s advance notice to visit and inspect any of its properties during normal business hours (and with respect solely to inspection of Vessels, without interrupting the normal commercial operations of such Vessel) and not more than twice during any fiscal year of the Administrative Borrower (unless an Event of Default has occurred and is continuing), including to conduct any environmental assessments, sampling, testing or monitoring of any Mortgaged Property or Collateral Vessel, or assets and examine and make abstracts from any of its books and records (including insurance policies), in each case, at any reasonable time and upon reasonable notice. Nothing in this Section 4.12, however, shall limit the rights of the Administrative Agent and the Collateral Agent, or the obligations of the Loan Parties, under Sections 5.07 and 5.13 of the Credit Agreement.

Access to Pledged Collateral, Books and Records; Other Information. Subject to Section 5.07 of the Credit Agreement, each Pledgor shall permit representatives of the Collateral Agent and the Administrative Agent upon two Business Day’s advance notice to visit and inspect any of its properties during normal business hours (and with respect solely to inspection of Vessels, without interrupting the normal commercial operations of such Vessel) and not more than twice during any fiscal year of the Administrative Borrower (unless an Event of Default has occurred and is continuing), including to conduct any environmental assessments, sampling, testing or monitoring of any Mortgaged Property or Collateral Vessel, or assets and examine and make abstracts from any of its books and records (including insurance policies), in each case, at any reasonable time and upon reasonable notice. Nothing in this Section 4.12, however, shall limit the rights of the Administrative Agent and the Collateral Agent, or the obligations of the Loan Parties, under Sections 5.07 and 5.13 of the Credit Agreement.