Monthly Reports and Borrowing Base Certificates Clause Samples

The "Monthly Reports and Borrowing Base Certificates" clause requires the borrower to regularly provide the lender with detailed financial reports and certificates that calculate the current borrowing base. Typically, this involves submitting monthly financial statements and a certificate that outlines the value of eligible collateral, such as accounts receivable or inventory, which supports the amount the borrower can draw under a credit facility. This clause ensures the lender receives up-to-date information to monitor the borrower's financial health and confirm that the outstanding loan remains adequately secured, thereby managing credit risk and maintaining transparency.
Monthly Reports and Borrowing Base Certificates. The Borrowers shall submit to each Lender, not later than thirty (30) days after the end of each Fiscal Month, a report ("Monthly Report"), accompanied by a certificate in the form attached as EXHIBIT 3.1, which shall be signed by the chief executive officer or the chief financial officer of the Borrower Representative. The Monthly Report shall be in form and substance satisfactory to the Agent and shall include, as of the last Business Day of such Fiscal Month (and with respect to the initial Monthly Report attached as EXHIBIT 3.1-1, as of a date not more than two (2) Business Days prior to the Closing Date): (i) copies of all consolidated and consolidating operating statements for such Fiscal Month prepared for each Borrower for its internal use and other similar data as the Agent may reasonably request, (ii) an aged trial balance of Accounts of each Borrower ("Accounts Trial Balance") indicating which Accounts are current, up to 30, 30 to 60, 60 to 90, 90 to 120 and 120 days or more past the original invoice date and listing the names and addresses of all applicable Account Debtors, and (iii) a summary of accounts payable of each Borrower showing which accounts payable are current, up to 30, 30 to 60, 60 to 90 and 90 days or more past due and listing the names and addresses of applicable creditors. In addition, each Borrower shall deliver a Borrowing Base Certificate to the Agent and each Lender not later than the 3rd Business Day of each week for the preceding week (or such shorter period as the Agent may require). Each Borrower shall furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the Agent, concerning Accounts included, described or referred to in its Borrowing Base Certificates and any other documents in connection therewith requested by the Agent including, without limitation, but only if specifically requested by the Required Lenders, copies of all invoices prepared in connection with such Accounts and all credit memoranda issued by such Borrower (each Borrower shall issue such credit memoranda in accordance with its current practice and without delay, but in any event within three (3) Business Days of receipt of notice of a dispute with respect to an Account).
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Monthly Reports and Borrowing Base Certificates. (i) On or before each Monthly Reporting Date, Collection Agent shall prepare and deliver to the Co-Agents for distribution to the Lenders a Monthly Report, as of the most recent Calculation Date, signed by an Authorized Officer of Collection Agent; and (ii) On or before Wednesday of each week (or if any such day is not a Business Day, the next succeeding Business Day), Collection Agent shall prepare and deliver to the Co-Agents for distribution to the Lenders, a Borrowing Base Certificate as of the last Business Day of the prior week, signed by an Authorized Officer of Collection Agent.
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Monthly Reports and Borrowing Base Certificates. (i) On or before the second Business Day preceding each Distribution Date, Servicer shall prepare and deliver to the Co-Agents for distribution to the Lenders a Monthly Report, as of the last day of the most recent Calculation Period, signed by an authorized Senior Executive of Servicer; and (ii) At any time while Bowater's unsecured senior debt is Split-Rated, on or before the 5th Business Day following the 15th day of each month hereafter, Servicer shall prepare and deliver to the Co-Agents for distribution to the Lenders, a Borrowing Base Certificate as of the most recent Calculation Date, signed by an authorized Senior Executive of Servicer. (iii) At any time while Bowater's unsecured senior debt is rated both "BB+" or less by S&P and "Ba1" or less by ▇▇▇▇▇'▇, on or before Wednesday of each week thereafter (or if any such day is not a Business Day, the next succeeding Business Day), Servicer shall prepare and deliver to the Co-Agents for distribution to the Lenders, a Borrowing Base Certificate as of the most recent Calculation Date, signed by an authorized Senior Executive of Servicer.
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Monthly Reports and Borrowing Base Certificates. (a) The Company, on behalf of the Borrowers, shall submit to Agent, not later than the thirtieth (30th) day of each month, a monthly report ("MONTHLY REPORT"), accompanied by a certificate in the form attached hereto as EXHIBIT 3.1(C), which shall be signed by the chief executive officer or chief financial officer of the Company. The Monthly Report shall include such information as may be reasonably requested by the Agent. (b) In addition, the Company, on behalf of the Borrowers, shall provide the Agent with a borrowing base certificate in the form attached hereto as EXHIBIT 3.1(B) (the "BORROWING BASE CERTIFICATE") not later than the twentieth (20th) day of each month reflecting the activity of the Borrowers on a consolidating basis, and, with respect to WQMC, for each operating division, calculated as of the last day of the preceding month. The Company shall also furnish copies of any other reports or information, in a form and with such specificity as is satisfactory to the Agent, concerning Accounts and Inventory included, described or referred to in the Borrowing Base Certificates and any other documents in connection therewith requested by the Agent, including, without limitation, but only if specifically requested by the Agent, copies of all invoices prepared in connection with such Accounts. The Borrowing Base Certificates shall contain such additional information as the Agent may require.
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Monthly Reports and Borrowing Base Certificates. (i) On or before each Monthly Reporting Date, the Servicer shall prepare and deliver to the Administrator for distribution to the Lender a Monthly Report, as of the most recent Calculation Date, signed by an Authorized Officer of the Servicer; and (ii) On or before each Borrowing Base Reporting Date, commencing with the first full month succeeding the Closing Date, the Servicer shall prepare and deliver to the Administrator for distribution to the Lender, a Borrowing Base Certificate as of the 15th day of each month covering the period commencing on the first day of such month and ending on the 15th day of such month, signed by an Authorized Officer of the Servicer.
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Related to Monthly Reports and Borrowing Base Certificates

  • Borrowing Base Certificates (i) On or before the last day of each month from and after the date hereof, the Borrowers shall deliver to Collateral Agent, in form acceptable to Collateral Agent, a Borrowing Base Certificate as of the last day of the immediately preceding month, with such supporting materials as Collateral Agent shall reasonably request. If Collateral Agent shall request at any time (i) an Event of Default has occurred and is continuing or (ii) following an Excess Availability Triggering Event and continuing until the Cure Date or following the occurrence of a Default or Event of Default and so long as it is continuing, the Borrowers shall execute and deliver to Collateral Agent Borrowing Base Certificates on or before the third (3rd) Business Day of each week, provided that any referenced amounts with respect to unbilled Accounts will continue to be updated monthly. (ii) Together with each delivery of a Borrowing Base Certificate, the Borrower Representative shall deliver to Collateral Agent, in the form reasonably acceptable to Collateral Agent, a detailed accounts receivable and accounts payable aging of the Borrowers’ accounts aged by invoice date, account roll- forward with supporting details supplied from sales journals, collection journals, credit registers and any other records, unbilled accrued receivables report, unapplied deposits report, unbilled accrued payables reports, deferred revenue report, detailed list of Eligible Accounts and Eligible Unbilled Accounts, access to review new major contracts (MSAs and scope of work arrangements), sales tax accruals and a reconciliation to B▇▇▇▇▇▇▇’s general ledger and the Borrowing Base Certificate delivered by the Borrower as of such date and to such Borrower’s most recent financial statements and all with supporting information and materials as Collateral Agent shall reasonably request.

  • Borrowing Base Certificate The Administrative Agent shall have received a completed Borrowing Base Certificate duly executed by a financial officer of the Borrower, setting forth the calculation of the initial Borrowing Base as of the last day of the month preceding the date of the initial Advance under the Revolving Facility or the initial Letter of Credit.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Compliance Certificates The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series were outstanding, an officer’s certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such certificate has knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status.