Maintenance of Records Generally. Such Grantor will keep and maintain at its own cost and expense complete and accurate records of the Collateral, including, without limitation, a record of all payments received and all credits granted with respect to the Collateral and all other dealings with the Collateral. All chattel paper given to such Grantor with respect to any Accounts will be marked with the following legend: "This writing and the obligations evidenced or secured hereby are subject to the security interest of First Union National Bank of North Carolina, as Administrative Agent". For the Administrative Agent's and the Lenders' further security, such Grantor agrees that upon the occurrence and during the continuation of any Event of Default, such Grantor shall deliver and turn over any such books and records directly to the Administrative Agent or its designee. Such Grantor shall permit any representative of the Administrative Agent to inspect such books and records in accordance with Section 8.11 of the Amended and Restated Credit Agreement and will provide photocopies thereof to the Administrative Agent upon its reasonable request.
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Sources: Security Agreement (Acc Corp)
Maintenance of Records Generally. Such Grantor will keep and maintain -------------------------------- at its own cost and expense complete and accurate records of the Collateral, including, without limitation, a record of all payments received and all credits granted with respect to the Collateral and all other dealings with the Collateral. All chattel paper given to such Grantor with respect to any Accounts will be marked with the following legend: "This writing and the obligations evidenced or secured hereby are subject to the security interest of First Union National Bank of North Carolina, as Administrative Agent". For the Administrative Agent's and the Lenders' further security, such Grantor agrees that upon the occurrence and during the continuation of any Event of Default, such Grantor shall deliver and turn over any such books and records directly to the Administrative Agent or its designee. Such Grantor shall permit any representative of the Administrative Agent to inspect such books and records in accordance with Section 8.11 7.11 of the Amended and Restated Credit Agreement and will provide photocopies thereof to the Administrative Agent upon its reasonable request.
Appears in 1 contract
Sources: Security Agreement (Acc Corp)
Maintenance of Records Generally. Such Each Grantor will keep and maintain at its own cost and expense complete and accurate records of the Collateral, including, without limitation, a record of all payments received and all credits granted with respect to the Collateral and all other dealings with the Collateral. All chattel paper Chattel Paper given to such Grantor with respect to any Accounts will be marked with the following legend: "This writing and the obligations evidenced or secured hereby are subject to the security interest of First Union Wachovia Bank, National Bank of North CarolinaAssociation, as Administrative Agent". For the Administrative Agent's and the Lenders' further security, such each Grantor agrees that upon the occurrence and during the continuation of any Default or Event of Default, such Grantor shall deliver and turn over any such books and records directly to the Administrative Agent or its designee. Such Each Grantor shall permit any representative of the Administrative Agent to inspect such books and records in accordance with Section 8.11 9.11 of the Amended and Restated Credit Agreement and will provide photocopies thereof to the Administrative Agent upon its reasonable request.
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