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Agenda - 03-21-2000-5a
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Agenda - 03-21-2000-5a
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Last modified
8/29/2008 6:01:18 PM
Creation date
8/29/2008 11:16:25 AM
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BOCC
Date
3/21/2000
Document Type
Agenda
Agenda Item
5a
Document Relationships
2000 S EDC - Approval of Resolution Concerning Revised Documents Governing Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2000
Minutes - 03-21-2000
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2000
RES-2000-021 Resolution Regarding Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2000
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x9 <br />recovered funds, and (b) then to each Bank pro rata on the basis of each Bank's <br />Percentage Share. <br />SEC'ITUN 5 <br />S.omnan~'s Covenants <br />5.1. Affirmative Covenants. So long as any portion of the Loan remains <br />unsatisfied, the Company will: <br />(a) Maintain in force a plan designed to safeguazd the Net Cash Proceeds and <br />other assets and to assure the reliability of its personnel and the accuracy of its financial <br />data, and also mauntain accurate and current financial records, including books of <br />account. <br />(b) Preserve, for the periods hereinafter specified and in a manner that permits <br />the immediate location thereof <br />(i) for a period of ten years after the Loaa has been paid or otherwise <br />satisfied, all general and subsidiary ledgers reflecting asset, liability, income and <br />expense accounts; all general and special journals (or other records forming the <br />basis for entries in such ledgers); and <br />(ii) for a period of at least six years following final disposition of any <br />Program Loan, all applications for such loan, all lending agreements, security <br />agreements and other financing instruments pertaining to such loan, and all other <br />documents and supporting materials relating to such loan, including <br />correspondence. <br />(c) Permit the representatives of the Banks access during all business hours <br />to, and permit such representatives to examine, copy or make excerpts from, any and all <br />books, records. and documents in the Company's possession relating to the Program <br />Loans. . <br />(d) Comply with all applicable laws, rules, regulations and orders of any <br />governmental authority. <br />(e) Promptly notify the Banks of any litigation or proceeding or threatened <br />litigation or proceeding :involving any of the Program Loans, this Agreement, the Support <br />Agreement or any other aspect of the Loan Program. <br />(~ Mazk each document or instrument comprising any part of the Program <br /> <br />
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