Common use of SCHEDULES AND REPORTS Clause in Contracts

SCHEDULES AND REPORTS. (a) Deliver to the Lender, within twenty (20) days after the end of each Fiscal Month, commencing with the Fiscal Month ending May 31, 2018, a perpetual inventory report. (b) Deliver to Lender a statement of sales within twenty (20) days after the end of each Fiscal Month, commencing with the Fiscal Month ending May 31, 2018, and if and the extent that any Borrower seeks to include the Receivables resulting from such sales in the Borrowing Base and collections for the previous Business Day, showing outstanding Receivables as of the close of business on the previous Business Day; and (c) Deliver to Lender at such intervals as Lender may reasonably require, in its Permitted Discretion, in writing: (i) confirmatory assignment schedules, (ii) copies of Customer’s invoices, (iii) evidence of shipment or delivery, (iv) copies of UCC-1 or mechanics lien filings evidencing Borrowers’ contractual right to obtain a lien on equipment sales in the Ordinary Course of Business and (v) such further schedules, documents and/or information regarding the Collateral as Lender, in its Permitted Discretion, may require including, without limitation, trial balances and test verifications. Lender shall also have the right to confirm and verify all Receivables by any manner and through any medium it considers commercially advisable and do whatever it may deem commercially necessary to protect its interests hereunder. The items to be provided under this Section shall be in fonu satisfactory to Lender and executed by Borrowing Representative and delivered to Lender from time to time solely for Lender’s convenience in maintaining records of the Collateral, and any failure to deliver any of such items to Lender shall not affect, terminate, modify or otherwise limit Lender’s Lien with respect to the Collateral.