Common use of Administration of Inventory Clause in Contracts

Administration of Inventory. Borrower shall keep records of its Inventory which records shall be complete and accurate and complete in all material respects. Borrower shall furnish to Agent Inventory reports monthly (on or before the 15th day of the following month), or more frequently as requested by Agent, which reports will be in such other format and detail as Agent shall request and shall include a current list of all locations of Borrower's Inventory; provided, that at all times hereafter that Availability is less than $20,000,000, Borrower shall furnish Inventory reports concurrently with the delivery of each Borrowing Base Certificate described in subsection 8.1.4, or more frequently as requested by Agent. Borrower shall conduct a physical inventory no less frequently than annually and shall provide to Agent a report based on each such physical inventory promptly thereafter, together with such supporting information as Agent shall reasonably request.