Common use of Right to Inspect and Verify Clause in Contracts

Right to Inspect and Verify. Agent and each Lender (through any of their respective officers, employees, or agents) shall have the right, from time to time hereafter (i) to inspect the Books and make copies or abstracts thereof, (ii) from time to time, to communicate directly with any and all Borrower’s Account Debtors to verify the existence and terms of Leases and Notes Receivable, and (iii) to check, test, and appraise the Collateral, or any portion thereof, in order to verify Borrower’s and its Subsidiaries’ financial condition or the amount, quality, value, condition of, or any other matter relating to, the Collateral.

Appears in 1 contract

Sources: Loan and Security Agreement (LEAF Equipment Finance Fund 4, L.P.)

Right to Inspect and Verify. Agent and each Lender (through any of their respective its officers, employees, or agents) shall have the right, from time to time hereafter (i) to inspect the Books and make copies or abstracts thereof, upon prior notice and during normal business hours, (ii) from time to time, to communicate directly with any and all Borrower’s Account Debtors to verify the existence and terms of Leases and Notes Receivablethe obligations of such Account Debtors, and (iii) to check, test, and appraise the Collateral, or any portion thereof, in order to verify Borrower’s 's and its Subsidiaries' financial condition or the amount, quality, value, condition of, or any other matter relating to, the Collateral.

Appears in 1 contract

Sources: Loan and Security Agreement (Velocity Asset Management Inc)