Business indicated above,and, (c), as applicable, qualify and remain qualified as a foreign corporation,General partnership, limited partnership, limited liability partnership or limited liability company in each jurisdiction in which such qualification is required.
3.2 Maintain records. Keep adequate records and books of account, in which complete entries will be made in accordance with GAAP consistently applied, reflecting all financial transactions of the Borrower.
3.3 Maintain Properties. Maintain,keep, and preserve all of its properties (tangible and intangible) including the collateral necessary or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted.
3.4 Conduct of Business. Continue to engage in an efficient, prudent, and economical manner in a business of the same General type as now conducted.
3.5 Maintain Insurance. Maintain Insurance with financially sound and reputable insurance companies or association in such amounts and covering such risks as are usually carried by companies engaged in the same or a similar business, and business interruption insurance
if required by Bank, which insurance May provide for reasonable deductible(s). The Bank shall be named as loss payee (Long Form) on all policies which apply to the Bank's collateral, and the Borrower shall deliver certificates of insurance at closing widening same.
3.6 Comply With Laws. Comply in all respects with all applicable laws, rules, regulations,and orders including, without limitation, paying before the delinquency of all taxes, assessments,and governmental charges imposed upon it or upon its property, and all Environmental Laws.
3.7 Right of Inspection. Permit the officers and authorized agents of the Bank, at any reasonable time or times in the Bank's sole discretion, to examine and make copies of the records and books of account of, to visit the properties of the Borrower, and to discuss such matters with any officers, directors, managers, members or partners, limited or general if the Borrower, and the Borrower's independent accountant as the Bank deems necessary and proper.
3.8 Reporting Requirements. Furnish to the Bank :
Quarterly Consolidated Financial Statements : As soon as available and not later than two (2) weeks after complying with required Securities and Exchange Commission reporting requirements, consolidated quarterly balance sheets, statements of income, cash flow, and retained earnings for the period ended,all in reasonable detail, and all prepared in accordance with GAAP consistently applied and certified as true and correct by an officer of the Borrower ( " Quarterly Reporting Requirements" ).
Annual Consolidated Financial Statements : As soon as available and not later than two (2) weeks after complying with required Securities and Exchange Commission reporting requirements, consolidated annual balance sheets, statements of income, cash flow and retained earnings for the period ended, all in reasonable detail, and all prepared in accordance with GAAP consistently applied. The financial statements must be of the following quality or better : Audited (" Annual Reporting Requirements").
Notice of Litigation : Promptly after the receipt by the Borrower, or by any Guarantor of which Borrower has knowledge, of notice or complaint of any action, suit, and proceeding before any court or administrative agency of any type which, if determined adversely, could have a material adverse effect on the financial condition, properties, or operations of the Borrower or Guarantor, as appropriate.
Notice of Default: Promptly upon discovery or knowledge thereof, notice of the existence of any event of Default under this Agreement or any other Loan Documents.
USA Patriot Act Verification Information : Information or documentation, including but not limited to the legal name, address, tax identification number, driven's license, and date of birth ( if the Borrower is an individual ) of the Borrower sufficient for the Bank to verify the identity of the Borrower in accordance with the USA Patriot Act. Borrower shall notify Bank promptly of any change in such information.
Financial Statement Certification : Along with Quarterly and Annual Consolidated Financial Statements, a certification executed by the Chief Financial Officer of the Borrower stating :
Based on my knowledge, the financial statements do not contain any untrue statement of a material fact or commit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respects to the period covered.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented..Other Information : Such other information as the Bank may From time to time reasonably request..3.9 Deposit Accounts. Maintain substantially all of its demand deposit/operating accounts ( with the exception of the accounts of C and C Power Line,Inc.) With the Bank.
3.10 Affirmative Covenants form other Loan Documents. All affirmative covenants contained in any Deed of Trust, Security Agreement, Assignment of Leases and Rents, or other security document executed by the Borrower Which are described in Section I hereof are hereby incorporated by reference herein.
IV. GUARANTORS' COVENANTS
Each Guarantor covenants and agrees that from the date hereof and until payment in full of all indebtedness and performance of all obligations owed under the Loan Documents, Guarantor shall :
4.1 Maintain Existence and Current Legal Form of Business. If Guarantor is a corporation, partnership, limited partnership, limited liability partnership or limited liability company, (a) maintain its existence and good standing in the state of its incorporation or organization, (b) maintain its current legal form of Business as shown on the guaranty agreement provided by Guarantor to Bank in
โหลดข้อความเก่ากว่า.โหลดข้อความใหม่กว่า.
โหลดผลลัพธ์เพิ่มเติม.คุณไม่สามารถตอบกลับการสนทนานี้ได้
เลือกข้อความที่จะลบเลือกข้อความที่ต้องการทำเครื่องหมายเป็นสแปมยกเลิกลบทำเครื่องหมายว่าเป็นสแปม.