Audit of Collateral. In the case of any Advances under the Revolving Facility, at Bank’s election, the Bank shall have received and conducted an audit of the Collateral (including, as applicable, without limitation, the Accounts of each of Borrower, IL, NBIL, ORC and Chesapeake), the results of which shall be satisfactory to the Bank.
Appears in 2 contracts
Sources: Loan and Security Agreement (Widepoint Corp), Loan and Security Agreement (Widepoint Corp)
Audit of Collateral. In the case of any Advances under the Revolving Facility, at Bank’s election, the Bank shall have received and conducted an audit of the Collateral (including, as applicable, without limitation, the Accounts of each of Borrower, IL, NBIL, ORC and Chesapeake’s Accounts), the results of which shall be satisfactory to the Bank.
Appears in 2 contracts
Sources: Loan and Security Agreement (Unilens Vision Inc), Loan and Security Agreement (Adam Inc)
Audit of Collateral. In At the case of any Advances under the Revolving Facility, at Bank’s election, the Bank shall have received and conducted an audit of the Collateral collateral securing the Loans (including, as applicable, without limitation, the Accounts of each of Borrower, IL, NBIL, ORC ’s Inventory and ChesapeakeAccounts), the results of which shall be satisfactory to the Bank.
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Audit of Collateral. In the case of any Advances under the Revolving Facility, at Bank’s election, the Bank shall have received and conducted an audit of the Collateral (including, as applicable, without limitation, the Accounts of each of Borrower, IL, NBIL, ORC and Chesapeake’s Accounts), the results of which shall be satisfactory to the Bank; provided, that prior to the occurrence of an Event of Default, the Bank’s right to conduct an audit shall be limited to once per fiscal year.
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