Appraisals. Agent may in its Permitted Discretion (and shall at the written direction of Required Lenders but only to the extent Borrowers are obligated to reimburse Agent pursuant to the terms of this Section 4.7), at any time after the Closing Date and from time to time, engage the services of an Approved Appraiser, for the purpose of appraising Credit Parties' assets; provided, that so long as no Event of Default shall have occurred during a calendar year, Agent shall not conduct more than one (1) appraisal of the Equipment (including Fleet Assets) in such calendar year (increasing to two (2) appraisals of Equipment (including Fleet Assets) in a calendar year if at any time during such calendar year Undrawn Availability is less than fifteen percent (15.0%) of the Maximum Loan Amount for five (5) consecutive Business Days, except for appraisals conducted in connection with a proposed Permitted Acquisition (whether or not consummated). Absent the occurrence and continuance of an Event of Default at such time, Agent shall consult with Borrowing Agent as to the identity of any such Approved Appraiser. Borrowers shall reimburse Agent for the costs, expenses and charges incurred by Agent in respect of any appraisal; provided, that so long as no Event of Default shall have occurred during a calendar year, Borrowers shall not be obligated to reimburse Agent for more than one (1) appraisal of the Equipment (including Fleet Assets) in such calendar year (increasing to two (2) appraisals of Equipment (including Fleet Assets) in a calendar year if at any time during such calendar year Undrawn Availability is less than fifteen percent (15.0%) of the Maximum Loan Amount for five (5) consecutive Business Days, except for appraisals conducted in connection with a proposed Permitted Acquisition (whether or not consummated).

Appraisals. The Borrower shall have the right to request that the Administrative Agent or professionals (including consultants and appraisers) retained by the Administrative Agent promptly obtain or provide, as applicable, an updated Approved Appraisal for the Property commonly referred to as “1633 Broadway” and/or for the Property commonly referred to as “1301 Avenue of the Americas”, in each case at the sole expense of the Borrower; provided that not more than one updated Approved Appraisal for either such Property may be so requested by the Borrower during the term of the Facilities.

Appraisals. Agent may, in its sole discretion, exercised in a commercially reasonable manner, at any time after the Closing Date, engage the services of an independent appraisal firm or firms of reputable standing, satisfactory to Agent, for the purpose of appraising the then current values of Borrowers’ Inventory; provided that, other than during the continuance of any Event of Default, such appraisal shall be conducted no more frequently than four times per fiscal year. Absent the occurrence and continuance of an Event of Default at such time, Agent shall consult with Borrowers as to the identity of any such firm. In the event the value of Borrowers’ Inventory, as so determined pursuant to such appraisal, is less than anticipated by Agent or Lenders, such that the Revolving Advances against Eligible Inventory are in fact in excess of such Advances permitted hereunder, then, promptly upon Agent’s demand for same, Borrowers shall make mandatory prepayments of the then outstanding Revolving Advances made against such Eligible Inventory so as to eliminate the excess Advances.

Appraisals. The Administrative Agent shall have received appraisals of the Borrowers’ Inventory from one or more firms satisfactory to the Administrative Agent, which appraisals shall be satisfactory to the Administrative Agent.

Appraisals. Lender shall have the right to obtain a new or updated Appraisal of the Project from time to time. Borrower shall cooperate with Lender in this regard. If the Appraisal is obtained to comply with this Agreement or any applicable law or regulatory requirement, or bank policy promulgated to comply therewith, or if an Event of Default exists, Borrower shall pay for any such Appraisal upon Lender’s request, not to exceed once per calendar year.

Appraisals. In addition to the foregoing, Company shall, at the request of Collateral Agent, deliver to Collateral Agent, not more than once every two (2) years (or more frequently if required by applicable law or regulation) such appraisals as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Mortgage.

Without limiting any right of Administrative Agent to obtain an Appraisal at Borrowers’ sole cost and expense pursuant to the express terms of this Agreement or any other Loan Document, Administrative Agent may obtain additional Appraisals of any Individual Property # at any time that an Event of Default exists at the sole cost and expense of Borrowers and # at any other time in the discretion of Administrative Agent and at the sole cost and expense of Administrative Agent. Borrowers shall reasonably cooperate with Administrative Agent and the appraiser preparing such Appraisal and provide reasonable access to the applicable Individual Property, in each case, in respect of any such Appraisal obtained by Administrative Agent pursuant to this Section 11.15.2. Borrowers shall reimburse Administrative Agent for the cost of any Appraisal obtained during the existence of an Event of Default pursuant to this Section 11.15.2 within ten (10) days following written demand for such reimbursement by Administrative Agent.

Appraisals. The Administrative Agent shall have received appraisals of the Borrowers’ Inventory from one or more firms satisfactory to the Administrative Agent, which appraisals shall be satisfactory to the Administrative Agent.

Permit Agent no more than two (2) times per Fiscal Year, subject to reasonable notice (except when an Event of Default exists) and during normal business hours, to visit and inspect the Properties of Borrowers or their Subsidiaries, inspect, audit and make extracts from Borrowers' or their Subsidiaries' books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Borrower's or Subsidiary's business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to Borrowers to make any inspection, or to share any results of any inspection, appraisal or report with Borrowers; provided, Borrowers shall provide Agent with copies of the results of any inspection, appraisal or report obtained by Bank of America, N.A. in connection with the Revolver Debt Documents. Borrowers acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Borrowers shall not be entitled to rely upon them.

Permit (and, with respect to any Eligible Developer Equipment, cause Developer to permit) Agent (and any technical advisor to Agent reasonably acceptable to Borrower) from time to time, subject (unless an Event of Default has occurred and is continuing) to reasonable notice and normal business hours but limited to no more than once per Fiscal Quarter (subject to the proviso set forth in clause (b) below), to visit and inspect its Properties or any other location where Collateral is located, inspect, audit and make extracts from its books and records, and discuss # with its Responsible Officers its business, financial condition, assets and results of operations and # with its independent accountants, financial statements and other accounting-related topics. Lenders may participate in any such visit or inspection, at their own expense. Secured Parties shall have no duty to any Obligor or Developer to make any inspection, nor to share any results of any inspection, appraisal or report with any Obligor or Developer. Obligors acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Obligors and Developer shall not be entitled to rely upon them.