Loan Monitoring Clause Samples
The Loan Monitoring clause establishes the lender's right to oversee and review the borrower's financial status and compliance with loan terms throughout the life of the loan. Typically, this involves the borrower providing regular financial statements, progress reports, or access to relevant records, enabling the lender to assess ongoing risk and ensure the loan is being used appropriately. By implementing this clause, lenders can detect potential issues early, safeguard their investment, and take timely action if the borrower's financial health deteriorates or if loan covenants are breached.
POPULAR SAMPLE Copied 13 times
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right to visit personally with Borrower up to two times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Lender Expenses incurred for reasonable travel, lodging and similar expenses for up to three PFG staff for such visits shall be at Borrower’s expense and reimbursed in the same manner as other PFG expenses under this Agreement.
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right to visit personally with Borrower up to two times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence.
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right to visit personally with Borrower up to two times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Reasonable out-of-pocket costs, including travel and lodging for up to two PFG staff for one of the two visits shall be at Borrower’s expense and reimbursed in the same manner as other PFG expenses under this Agreement. For the avoidance of doubt, such visits are separate and distinct from audits and inspections contemplated in Section 4.5 hereof.
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, NBE shall have the right to visit personally with Borrower up to two (2) times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with ▇▇▇▇▇▇▇▇’s management in order to remain as up-to-date with ▇▇▇▇▇▇▇▇’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Lender Expenses incurred for reasonable travel, lodging and similar expenses for up to three (3) NBE staff members for such visits shall be at Borrower’s expense and reimbursed in the same manner as other NBE expenses under this Agreement.
Loan Monitoring. (a) Secured Obligors shall provide Administrative Agent, at all times during the term of this Agreement, with sufficient real-time access to view the activity in (i) all commercial transaction accounts of Secured Obligors, including all Securities Accounts and Deposit Accounts and (ii) such other accounts and sales and inventory software and data as we deem necessary and appropriate, for the purpose of monitoring the business activities and finances of Secured Obligors.
(b) Secured Obligors shall grant to Administrative Agent, at all times during the term of this Agreement, view access with respect to its Sales Tracking Software.
(c) Within 30 days of receipt of a written request from Administrative Agent, Secured Obligors shall provide daily transaction log files from each Secured Obligor’s ACH payment processor vendors and card processors, in each case.
Loan Monitoring. (a) Obligors agree to provide Administrative Agent, upon the occurrence and during the continuation of an Event of Default, with sufficient real-time access to view the activity in (i) all commercial transaction accounts of Obligors, including all deposit and securities accounts and (ii) such other accounts and sales and inventory software and data as we deem necessary and appropriate, for the purpose of monitoring the business activities and finances of Obligors.
(b) Upon receipt of a written request from Administrative Agent following an Event of Default, Obligors shall grant to Administrative Agent view access with respect to its Sales Tracking Software.
(c) Upon receipt of a written request from Administrative Agent following an Event of Default, Obligors shall grant to Administrative Agent real-time view access with respect to each of their respective Securities Accounts, Deposit Accounts and Investment Property and will also provide daily transaction log files from each Obligor’s ACH payment processor vendors and card processors, in each case, which shall continue to be provided until the Maturity Date. 41
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right to visit personally with Borrower up to four times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Reasonable costs, including travel and lodging for up to two PFG staff for two of the four visits (which shall be inclusive of the costs of any inspection or audit under Section 5.4) shall be at Borrower’s expense and reimbursed in the same manner as other PFG expenses under this Agreement.
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right to visit personally with Borrower up to two (2) times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Reasonable out-of-pocket costs, including travel and lodging for up to two PFG staff for one of such two visits shall be at Borrower’s expense and reimbursed in the same manner as other PFG expenses under this Agreement, provided, however, that so long as no Default has occurred and is continuing, the annual aggregate of such costs together with any audit costs under Section 4.5 shall not exceed the $8,000 cap specified in Section 4.5.
Loan Monitoring. The Borrowers shall provide Agent, at all times during this Agreement, with sufficient real-time access to view the activity in (i) all commercial transaction accounts of the Borrowers and, to the extent available to any Borrower, the Operators, including all deposit and securities accounts and (ii) such other accounts and sales and inventory software and data as Agent deems necessary and appropriate, for the purpose of monitoring the business activities and finances of the Borrowers and the Operators. Upon receipt of a written request from Agent, Borrowers shall grant to Agent view access with respect to Sales Tracking Software of the Operators to the extent of their legal authority to do so. Within fifteen (15) days of receipt of a written request from Agent, Borrowers shall grant to Agent real-time view access with respect to each of their respective Securities Accounts, Deposit Accounts and Investment Property, in each case, which shall continue to be provided until the Maturity Date.
Loan Monitoring. At reasonable times and upon reasonable advance notice to Borrower, PFG shall have the right, during any period in which the Loans (or any portion thereof) have been drawn by Borrower and are outstanding or during which PFG has any obligation to lend to Borrower, to visit personally with Borrower up to four times per calendar year at its principal place of business or such other location as the parties may mutually agree, for the purpose of meeting with Borrower’s management in order to remain as up-to-date with Borrower’s business as is practicable and to maintain best practices in terms of lender loan monitoring and diligence. Reasonable out-of-pocket costs, including travel and lodging for up to two PFG staff for two of the four visits shall be at Borrower’s expense and reimbursed in the same manner as other PFG expenses under this Agreement.