Collateral Examinations Sample Clauses
The Collateral Examinations clause establishes the lender's right to inspect and assess the borrower's pledged collateral. In practice, this means the lender may periodically review inventory, accounts receivable, or other assets used as security for a loan to verify their existence, value, and condition. This clause helps ensure that the collateral remains sufficient and in good standing, thereby protecting the lender's interests and reducing the risk of loss due to inadequate or deteriorating collateral.
Collateral Examinations. Pre-funding collateral exam completed within 60 days of Lender’s submission of this Agreement for Ex-Im Bank approval? Yes No
(i) Is the Collateral sufficient? Yes No
(ii) All outstanding issues resolved? Yes No
(iii) If no, please provide a brief description of the issues and the anticipated resolutions.
Collateral Examinations. The Borrower shall, and shall cause each of its Subsidiaries to, permit the Administrative and any Lender, and their respective employees, accountants, attorneys or agents, to examine and inspect any of the Properties and the Collateral of the Borrower and its Subsidiaries at any time during ordinary business hours upon reasonable notice from the Administrative Agent or such Lender, as applicable. Each of the Administrative Agent and the Lenders may also, from time to time, obtain one or more appraisals of all or any portion of the Properties and the Collateral of the Borrower and its Subsidiaries by an appraiser acceptable to the Administrative Agent or such Lender, as applicable, in its sole discretion. All such examinations and appraisals shall be performed at the Borrower’s sole cost and expense.
Collateral Examinations. The Administrative Agent shall be entitled, from time to time, to have inspections, appraisals and/or audits performed on the Collateral and the records relating thereto (including, without limitation, certificates of title for titled equipment). The fees and expenses of all such inspections, appraisals and audits shall be paid by the Borrower.
Collateral Examinations. Tripwire hereby acknowledges and agrees that the Administrative Agent, upon reasonable prior notice to Tripwire and at reasonable times, may conduct such examinations of the Collateral as the Administrative Agent deems necessary or desirable in its reasonable discretion. Tripwire further acknowledges and agrees that Tripwire shall pay the reasonable charges for any such examinations in accordance with Section 15.10 of this Agreement; provided, that in the absence of a continuing Event of Default, Tripwire shall not be required to pay for more than one such examination in any 12-month period. The parties to this Agreement contemplate that the collateral examinations conducted by the Administrative Agent hereunder will occur at least annually (although the Administrative Agent, in its discretion, may conduct more frequent examinations).
Collateral Examinations. Borrower shall pay to Bank immediately upon demand the full amount of all payments, advances, charges, costs and expenses expended or incurred by Bank in connection with the collateral examinations and inspections of Borrower, Bio-logic and Olympic Medical described in Section 5.2 hereof.
Collateral Examinations. The Credit Agreement is hereby further amended by adding the following new Section 11.25 thereto in the correct numerical location:
Collateral Examinations. The Debtor shall submit to collateral examinations (upon not less than two (2) Business Days notice) at any time as may be reasonably requested by the Secured Party, to be performed by Secured Party or its agent, for its benefit. The results of such examinations shall be satisfactory to the Secured Party in its reasonable discretion. If no Event of Default has occurred and is continuing, the Debtor shall pay the cost of up to two (2) examinations per year, not to exceed $5,000.00 per examination. If an Event of Default has occurred and is continuing, the Debtor shall pay all costs of such examinations.