Agenda - 06-24-1986 - Laserfiche WebLink

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ARTICLE VII SPECIAL COVENANTS Section 7 . 1 . Access to the Property and Inspection. The Authority Representative and the Holder shall have the right, at all reasonable times upon the furnishing of reasonable notice to the Company under the circumstances, to enter upon and examine and inspect the Project. The Company hereby covenants to execute, acknowledge and deliver all such further documents , including any deed of easement, and to do all such other acts and things as may be necessary to grant to the Authority Represen- tative and to the Holder such right of entry. The Authority Representative and the Holder shall also be permitted, at all reasonable times, to examine the books and records of the Company with respect to the Acquisition of the Project and the obliga- tions of the Company hereunder, but neither shall be entitled to access to trade secrets or to other proprietary information of the Company. Section 7.2. Company to Maintain its Corporate Existence. The Company agrees that it will maintain its corporate existence, will not dissolve or otherwise dispose of all or substantially all of its assets and will not consolidate with or merge into another corporation or permit one or more other corporations to consolidate with or merge into it, unless the Holder and the Authority shall otherwise consent in writing; provided, that the Company may, without violating its agreement contained in this Section, permit one or more corporations to consolidate with or merge into it, provided the resulting corporation is the Company and that such consolidation or merger will not violate any provision of the Bond Documents. Section 7. 3 . Financial Statements. (a) Until Payment of the Bond shall have occurred, the Company shall deliver to the Holder and the Authority ( i) within 45 days of the close of each of the first three quarters of each fiscal year of the Company, a financial statement relating to the quarter so closed (which financial statement may be unaudited) , and (ii) within 120 days of the close of each fiscal year of the Company, a financial statement relating to the fiscal year so closed, together with a balance sheet and profit-and-loss statement, with an audited and unqualified opinion of an independent certified public accounting firm of independent certified public accountants satisfactory to the Holder. All financial statements furnished pursuant hereto shall be prepared in accordance with generally accepted accounting principles, consistently applied. 19 .