Common use of Collateral Reports Clause in Contracts

Collateral Reports. Concurrent with the execution of this Agreement by Borrower and concurrent with each request for a loan pursuant to Section 2(a), but no less frequently than as required by Item 26 of the Schedule, Borrower shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. Borrower shall deliver to Lender within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s Accounts, (ii) a current detailed aging, by total and by vendor, of Borrower’s accounts payable, and (iii) a detailed report of Borrower’s Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. At Lender’s request, Borrower shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower or Borrower’s business or financial condition as Lender may reasonably request.

Collateral Reports. Concurrent with the execution of this Agreement by Borrower Borrowers and concurrent with each request for a loan pursuant to Section 2(a), but and no less frequently than as required by Item 26 of the Schedule, Borrower Borrowers’ Agent shall deliver to Lender Agent a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Officer, Chief Financial Officer Officer, Treasurer or Controller of Borrower Borrowers’ Agent as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower Borrowers’ Agent shall provide a to Agent (x) a copy of the Specified Customer Scorecard, and (y) a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by LenderAgent (including a spreadsheet in form and substance satisfactory to Agent setting forth shipment tracking information with respect to all outstanding shipments of Eligible In-Transit Inventory and all outstanding shipments of Inventory sold to the Specified Customer). Borrower Borrowers shall ensure that Agent has all information necessary to electronically access shipping information provided by any carrier or provider of Specified Customer Inventory, including providing Agent with updates to such information as may from time to time be necessary. Borrowers’ Agent shall deliver to Lender Agent within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Officer, Chief Financial Officer Officer, Treasurer or Controller of Borrower Borrowers’ Agent as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s Borrowers’ Accounts, (ii) a current detailed aging, by total and by vendor, of Borrower’s Borrowers’ accounts payable, and (iii) a detailed report of Borrower’s Borrowers’ Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to LenderAgent. Borrower Borrowers will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s Borrowers’ records to reflect the results of the count and deliver to Lender Agent monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender Agent may require. At LenderAgent’s request, Borrower Borrowers shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower Borrowers or Borrower’s Borrowers’ business or financial condition as Lender Agent may reasonably request.

Collateral Reports. Concurrent with the execution of this Agreement by Borrower and concurrent with each request for a loan pursuant to Section 2(a), but no less frequently than as required by Item 26 of the Schedule, Borrower shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. Borrower shall deliver to Lender within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s 's Accounts, (ii) a current detailed aging, by total and by vendor, of Borrower’s 's accounts payable, and (iii) a detailed report of Borrower’s 's Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s 's records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. At Lender’s 's request, Borrower shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower or Borrower’s 's business or financial condition as Lender may reasonably request.

Collateral Reports. (i) Concurrent with the execution of this Agreement by Borrower the Obligors and concurrent with each request for a loan pursuant to Section 2(a), but no less frequently than as required by Item 26 25 of the Schedule, Borrower shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. . (ii) Borrower shall deliver to Lender within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct, containing (iA) a copy of Borrower's internal audit report for such month, (B) a current detailed aging, by total and by Customerstore, of Borrower’s 's Accounts, together with an aging of all Accounts by Customer for Borrower's three largest stores (iibased on gross revenue for the twelve-month period most recently ended)) (and, upon Lender's request, Borrower shall provide a detailed aging for all Customers), (C) a current detailed aging, by total and by vendor, of Borrower’s 's accounts payable, and (iiiD) a detailed report of Borrower’s 's Inventory, setting forth the quantity, type and cost thereof, and an aging thereof, (E) a bank reconciliation, (F) a vehicle repossession recovery analysis, and (G) a copy of all cancelled checks relating to payments of taxes deferred in connection with Parent's bankruptcy reorganization plan, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. . (iii) Borrower will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s 's records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. . (iv) At Lender’s 's request, Borrower shall conduct such physical inventory counts counts, and the Obligors deliver such the information contemplated by this Section 9, more or less often than described above herein and such other information with respect to the Collateral, Borrower any Obligor or Borrower’s any Obligor's business or financial condition as Lender may reasonably request.

Collateral Reports. Concurrent with Borrower shall deliver to Foothill, as soon as they are available, but in no event later than Tuesday of each week during the execution term of this Agreement Agreement, a detailed aging, by total, of the Accounts of the Borrower and its Subsidiaries and a reconciliation statement, each updated through the preceding Friday, and, as soon as they are available, but in no event later than Tuesday of each week during the term of this Agreement, a summary aging, by vendor, of all accounts payable, (such summary aging to include a specific itemization of the amount of accounts payable due and owing to Lien Creditors with respect to which Borrower or any of its Subsidiaries has obtained letters of credit to secure the repayment of sums due an owing to such Lien Creditors from time to time), and any book overdraft, each updated through the preceding Friday. Original sales invoices evidencing daily sales shall be mailed by Borrower to each Account Debtor with, at Foothill’s request, a copy to Foothill, and, at Foothill’s direction from and concurrent with each after and during the continuation of an Event of Default, the invoices shall indicate on their face that the Account has been assigned to Foothill and that all payments are to be made directly to Foothill. Borrower shall deliver to Foothill, as Foothill reasonably may from time to time require, collection reports, sales journals, invoices, original delivery receipts, customer’s purchase orders, shipping instructions, bills of lading, and other documentation respecting shipment arrangements. Absent such a request by Foothill, copies of all such documentation shall be held by Borrower as custodian for a loan pursuant Foothill. In addition, from time to Section 2(a), but no less frequently than as required by Item 26 of the Scheduletime, Borrower shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer Foothill such other and additional information or Chief Financial Officer of Borrower documentation as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. Borrower shall deliver to Lender within ten Foothill reasonably may request.” (10m) days after the end of each month a report, reflecting the status as Section 6.4 of the end of each month Loan Agreement is hereby amended by amending and certified by restating the Chief Executive Officer or Chief Financial Officer of Borrower first paragraph thereof in its entirety as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s Accounts, (ii) a current detailed aging, by total and by vendor, of Borrower’s accounts payable, and (iii) a detailed report of Borrower’s Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. At Lender’s request, Borrower shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower or Borrower’s business or financial condition as Lender may reasonably request.follows:

Collateral Reports. Concurrent with the execution of this Agreement by Borrower and concurrent with each request for a loan pursuant to Section 2(a), but no less frequently than as required by Item 26 of the Schedule, Borrower shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. Borrower shall deliver to Lender on the first day of each week a detailed report of Borrower’s Inventory, setting forth the quantity, type, cost and location thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower shall deliver to Lender within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Chief Financial Officer of Borrower as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s Accounts, and (ii) a current detailed aging, by total and by vendor, of Borrower’s accounts payable, and (iii) a detailed report of Borrower’s Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. At Lender’s request, Borrower shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower or Borrower’s business or financial condition as Lender may reasonably request.

Collateral Reports. Concurrent with the execution of this Agreement by Borrower Borrowers and concurrent with each request for a loan pursuant to Section 2(a), but no less frequently than as required by Item 26 of the Schedule, Borrower Borrowers shall deliver to Lender a fully completed Borrowing Base Certificate certified by the Chief Executive Officer or Chief Financial Officer of Borrower Datrek as being true and correct. Concurrent with the delivery of each such Borrowing Base Certificate, Borrower Borrowers shall provide a written report to Lender of all materially significant returns, disputes and claims, together with sales and other reports relating to the Accounts and Inventory as required by Lender. Borrower Borrowers shall deliver to Lender within ten (10) days after the end of each month a report, reflecting the status as of the end of each month and certified by the Chief Executive Officer or Chief Financial Officer of Borrower Datrek as being true and correct, containing (i) a current detailed aging, by total and by Customer, of Borrower’s Borrowers’ Accounts, (ii) a current detailed aging, by total and by vendor, of Borrower’s Borrowers’ accounts payable, and (iii) a detailed report of Borrower’s Borrowers’ Inventory, setting forth the quantity, type and cost thereof, all of which shall be set forth in a form and shall contain such information as is acceptable to Lender. Borrower Borrowers will also conduct a physical inventory count no less frequently than annually, adjust Borrower’s Borrowers’ records to reflect the results of the count and deliver to Lender monthly a list of locations of Inventory and the types and values of Inventory at each such location, in such form as Lender may require. At Lender’s request, Borrower Borrowers shall conduct such physical inventory counts and deliver such information more or less often than described above and such other information with respect to the Collateral, Borrower Borrowers or Borrower’s Borrowers’ business or financial condition as Lender may reasonably request.