Collateral Audit and Appraisal Fees Clause Samples

The 'Collateral Audit and Appraisal Fees' clause defines the responsibility for paying costs associated with auditing or appraising collateral used to secure a loan or obligation. Typically, this clause specifies whether the borrower or another party must cover expenses incurred for professional evaluations of the collateral's value or condition, which may occur at origination or periodically during the agreement. Its core practical function is to ensure transparency and allocate financial responsibility for these necessary assessments, thereby protecting the lender's interests and clarifying cost expectations for all parties.
Collateral Audit and Appraisal Fees. Borrower shall reimburse Agent for all out-of-pocket expenses relating to (i) collateral field audits, (ii) fixed asset appraisals, and (iii) any other collateral assessment expenses, that may be conducted by or on behalf of Agent.
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Collateral Audit and Appraisal Fees. Core Molding shall reimburse Agent, for its sole benefit, for all out-of-pocket expenses relating to (i) collateral field audits, (ii) fixed asset appraisals, and (iii) any other collateral assessment expenses, that may be conducted by or on behalf of Agent. Core Molding shall promptly reimburse Agent for all reasonable and documented costs and expenses incurred in connection with (A) collateral field audits (which, other than during the continuance of an Event of Default, shall be conducted no more frequently than four times per year), (B) inventory appraisals (which, other than during the continuance of an Event of Default, shall be conducted no more frequently than two times per year), and (C) any other collateral assessment that may be conducted from time to time by or on behalf of Agent, the scope and frequency of which shall be in Agent’s sole discretion.
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Collateral Audit and Appraisal Fees. Borrowers shall reimburse Agent, for its sole benefit, for all expenses relating to any collateral assessment, that may be conducted from time to time by or on behalf of Agent, the scope and frequency of which shall be in Agent’s sole discretion (but is generally expected to be conducted no less frequently than two collateral field audits per year and one Inventory appraisal per year); provided that, absent an Event of Default, Borrowers need not reimburse Agent (i) for more than three collateral field audits during a calendar year, or (ii) one Inventory appraisal during a calendar year. The costs and expenses for field audits and appraisals performed by Agent during the absence of an Event of Default shall be as set forth in the Agent Fee Letter.
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Collateral Audit and Appraisal Fees. The Borrower shall reimburse the Agent, for its sole benefit, for all costs and expenses relating to any collateral assessment, that may be conducted from time to time by or on behalf of the Agent, the scope and frequency of which shall be in the Agent’s sole discretion; provided that, (i) (A) if no Event of Default is continuing and (B) Average Excess Availability is not less than fifteen percent (15%) of the aggregate Revolving Credit Commitments, the Borrower need not reimburse the Agent for more than two collateral field audits and one Inventory appraisal during each calendar year and (ii) if the Average Excess Availability is less than fifteen percent (15%) of the aggregate Revolving Credit Commitments for five (5) consecutive days, the date of the most recent collateral field audit may not be more than one hundred twenty (120) days old and the date of the most recent Inventory appraisal shall not be more than one hundred eighty (180) days old and the Borrower shall reimburse Agent for appraisals and collateral field audits needed to be completed to comply with the above requirements. During the existence of a Default or an Event of Default, there shall be no limit on the number of appraisals or field audits for which the Borrower shall reimburse Agent.
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Collateral Audit and Appraisal Fees. Borrower shall promptly reimburse Lender, for all costs and expenses relating to any collateral assessment and Inventory appraisal that may be conducted from time to time by or on behalf of Lender, the scope and frequency of which shall be in the sole discretion of Lender; provided that, absent an Event of Default, during each calendar year Borrower need not reimburse Lender for more than (i) three collateral field audits and (ii) one Inventory appraisal.
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Collateral Audit and Appraisal Fees. Borrower shall promptly reimburse Administrative Agent, for its sole benefit, for all costs expenses relating to collateral field audits, appraisals (including appraisals for equipment and machinery, real property and Inventory) or other collateral assessments that may be conducted from time to time by or on behalf of Administrative Agent, the scope and frequency of which shall be in the sole discretion of Administrative Agent.
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Collateral Audit and Appraisal Fees. Borrower shall reimburse Agent, for its sole benefit, for all costs and expenses relating to any collateral assessment, that may be conducted from time to time by or on behalf of Agent, the scope and frequency of which shall be in Agent's sole discretion; provided that, absent an Event of Default, Borrower need not reimburse Agent for (i) more than three collateral field audits during a calendar year, or (ii) one Inventory appraisal during a calendar year.
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Collateral Audit and Appraisal Fees. Borrowers shall reimburse Lender for all reasonable out-of-pocket expenses relating to any collateral assessment, that may be conducted from time to time by or on behalf of Lender, the scope and frequency of which shall be in Lender’s sole discretion, provided that, absent an Event of Default, Borrowers need not reimburse Lender (i) for more than four (4) collateral field audits during a calendar year, or (ii) one Inventory Appraisal during a calendar year.
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Related to Collateral Audit and Appraisal Fees

  • Financial Audit The School shall submit audited financial statements from an independent auditor to the Authorizer no later than November 1 of each year.

  • Financial Audits During the Audit Period, Service Provider shall provide to DIR Auditors access at reasonable hours to Service Provider Personnel and to Contract Records and other pertinent information to conduct financial audits necessary to verify the Charges or validate other Service Provider obligations under this Agreement (but not including Service Provider's internal costs or actual salary amounts of individual Service Provider Personnel unless such costs form the basis of a Pass Through Expense), including the audit work papers of Service Provider's auditor to the extent applicable to the Services and obtainable by Service Provider, all to the extent relevant to the performance of Service Provider's obligations under this Agreement). Such access shall be provided for the purpose of performing audits and inspections to (i) verify the accuracy and completeness of Contract Records, (ii) verify the accuracy and completeness of Charges and any Pass-Through Expenses and Out-of-Pocket Expenses, (iii) examine the financial controls, processes and procedures utilized by Service Provider in connection with the Services, (iv) examine Service Provider's performance of its other financial and accounting obligations to DIR under this Agreement, and (v) enable DIR and DIR Customers to meet applicable legal, regulatory and contractual requirements, in each case to the extent applicable to the Services and/or the Charges for such Services. Service Provider shall (1) provide any assistance reasonably requested by DIR Auditors in conducting any such audit, (2) make requested Service Provider Personnel, records and information available to DIR Auditors, and (3) in all cases, provide such assistance, personnel, records and information in an expeditious manner to facilitate the timely completion of such audit. If any such audit reveals an overcharge by Service Provider, and Service Provider does not successfully dispute the amount questioned by such audit in accordance with Article 19, Service Provider shall promptly pay to DIR the amount of such overcharge, together with interest at the rate specified by the Texas Comptroller of Public Accounts in accordance with Section 2251.025(b), Texas Government Code, from the date of receipt by Service Provider of the overcharged amount until the date of payment to DIR. In addition, if any such audit reveals an overcharge of more than five percent (5%) of the audited Charges in any Charges category, Service Provider shall, upon DIR's request, promptly reimburse DIR for reasonable auditors' fees provided that such reimbursement shall not exceed the amount of the overcharge uncovered during the audit.

  • Collateral Examination Agent shall have completed Collateral examinations and received appraisals, the results of which shall be satisfactory in form and substance to Lenders, of the Receivables, Inventory, General Intangibles, and Equipment of each Borrower and all books and records in connection therewith;

  • Waiver of Inventory, Accounting and Appraisal Requirement The Trustee shall be relieved of, and each Certificateholder hereby waives, any requirement of any jurisdiction in which the Trust, or any part thereof, may be located that the Trustee file any inventory, accounting or appraisal of the Trust with any court, agency or body at any time or in any manner whatsoever.

  • The Appraisal The Mortgage Loan Documents contain an appraisal of the related Mortgaged Property by an appraiser who is licensed in the state where the Mortgaged Property is located, and who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;