Common use of Collateral Documentation Clause in Contracts

Collateral Documentation. Borrower shall deliver to Lender prior to any advance of principal under a Note, satisfactory documentation regarding the Collateral to be financed, including, but not limited to, invoices, canceled checks evidencing payments therefore, or other documentation as may be reasonably requested by Lender. Immediately prior to any advance, Borrower shall satisfy Lender that Borrower's business and financial information is as represented and there has been no material change in Borrower's business, financial condition or operations since the date of the most recent audited financial statement delivered under this Agreement.