WITH
RESPECT THERETO HAVE BEEN PROVIDED ON THE BOOKS OF THE LOAN PARTIES AND (B) ALL
OBLIGATIONS ARISING PREPETITION REQUIRED TO BE PAID POSTPETITION BUT PRIOR TO
CONFIRMATION OF THE REORGANIZATION PLAN BY ORDER OF THE BANKRUPTCY COURT THAT
HAS BEEN ENTERED WITH THE CONSENT OF (OR NON-OBJECTION BY) THE ADMINISTRATIVE
AGENT.
7.4.
CONDUCT OF BUSINESS AND MAINTENANCE OF EXISTENCE.
CONTINUE TO
ENGAGE IN BUSINESS OF THE SAME GENERAL TYPE AS CONDUCTED BY THE BORROWER, ITS
SUBSIDIARIES AND THE OTHER LOAN PARTIES, AS APPLICABLE, ON THE CLOSING DATE,
TAKEN AS A WHOLE, AND PRESERVE, RENEW AND KEEP IN FULL FORCE AND EFFECT ITS
CORPORATE EXISTENCE AND TAKE ALL REASONABLE ACTION TO MAINTAIN ALL RIGHTS,
PRIVILEGES AND FRANCHISES NECESSARY OR DESIRABLE IN THE NORMAL CONDUCT OF THE
BUSINESS OF THE BORROWER, ITS SUBSIDIARIES AND THE OTHER LOAN PARTIES, TAKEN AS
A WHOLE, EXCEPT AS OTHERWISE EXPRESSLY PERMITTED PURSUANT TO SUBSECTION 8.5,
PROVIDED THAT THE BORROWER, ITS SUBSIDIARIES AND
63
THE OTHER LOAN PARTIES SHALL NOT BE REQUIRED TO MAINTAIN ANY SUCH RIGHTS,
PRIVILEGES OR FRANCHISES, IF THE FAILURE TO DO SO WOULD NOT REASONABLY BE
EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT; AND, SUBJECT TO THE EFFECT OF THE
CASES, COMPLY WITH ALL CONTRACTUAL OBLIGATIONS AND REQUIREMENTS OF LAW EXCEPT TO
THE EXTENT THAT FAILURE TO COMPLY THEREWITH, IN THE AGGREGATE, WOULD NOT
REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
7.5.
MAINTENANCE OF PROPERTY; INSURANCE.
KEEP ALL PROPERTY USEFUL AND
NECESSARY IN THE BUSINESS OF THE BORROWER, ITS SUBSIDIARIES AND THE OTHER LOAN
PARTIES, TAKEN AS A WHOLE, IN GOOD WORKING ORDER AND CONDITION; MAINTAIN WITH
FINANCIALLY SOUND AND REPUTABLE INSURANCE COMPANIES INSURANCE ON ALL PROPERTY
MATERIAL TO THE BUSINESS OF THE BORROWER, ITS SUBSIDIARIES AND THE OTHER LOAN
PARTIES, TAKEN AS A WHOLE, IN AT LEAST SUCH AMOUNTS AND AGAINST AT LEAST SUCH
RISKS (BUT INCLUDING IN ANY EVENT PUBLIC LIABILITY, PRODUCT LIABILITY AND
BUSINESS INTERRUPTION) AS ARE USUALLY INSURED AGAINST IN THE SAME GENERAL AREA
BY COMPANIES ENGAGED IN THE SAME OR A SIMILAR BUSINESS; AND FURNISH TO THE
ADMINISTRATIVE AGENT, UPON WRITTEN REQUEST, INFORMATION IN REASONABLE DETAIL AS
TO THE INSURANCE CARRIED, TOGETHER WITH CERTIFICATES OF INSURANCE AND OTHER
EVIDENCE OF SUCH INSURANCE, IF ANY, NAMING THE ADMINISTRATIVE AGENT AS AN
ADDITIONAL INSURED AND/OR LOSS PAYEE.
7.6.
INSPECTION OF PROPERTY; BOOKS AND RECORDS; DISCUSSIONS.
(A)
KEEP
PROPER BOOKS OF RECORDS AND ACCOUNT IN WHICH FULL, COMPLETE AND CORRECT ENTRIES
IN CONFORMITY WITH GAAP AND ALL MATERIAL REQUIREMENTS OF LAW SHALL BE MADE OF
ALL DEALINGS AND TRANSACTIONS IN RELATION TO ITS BUSINESS AND ACTIVITIES; AND
PERMIT REPRESENTATIVES OF ANY LENDER TO VISIT AND INSPECT ANY OF ITS PROPERTIES
AND EXAMINE AND, TO THE EXTENT REASONABLE, MAKE ABSTRACTS FROM ANY OF ITS BOOKS
AND RECORDS AND TO DISCUSS THE BUSINESS, OPERATIONS, PROPERTIES AND FINANCIAL
AND OTHER CONDITION OF THE BORROWER, ITS SUBSIDIARIES AND THE OTHER LOAN PARTIES
WITH OFFICERS AND EMPLOYEES OF THE BORROWER, ITS SUBSIDIARIES AND THE OTHER LOAN
PARTIES AND WITH ITS INDEPENDENT CERTIFIED