(3) FISCAL
YEARS PRESENTED ON A MONTHLY BASIS FOR THE NEXT FISCAL YEAR AND ANNUALLY FOR THE
TWO (2) SUBSEQUENT FISCAL YEARS, ALL OF WHICH SHALL BE IN A FORMAT REASONABLY
CONSISTENT WITH PROJECTIONS, BUDGETS AND FORECASTS THERETOFORE PROVIDED TO
LENDERS, AND PROMPTLY FOLLOWING THE PREPARATION THEREOF, MATERIAL UPDATES TO ANY
OF THE FOREGOING FROM TIME TO TIME PREPARED BY MANAGEMENT OF BORROWER.
50
(N)
[RESERVED.]
(O)
APPRAISALS.
FROM TIME TO TIME, IF ADMINISTRATIVE AGENT OR ANY
LENDER DETERMINES THAT OBTAINING APPRAISALS IS NECESSARY IN ORDER FOR
ADMINISTRATIVE AGENT OR SUCH LENDER TO COMPLY WITH APPLICABLE LAWS, APPRAISAL
REPORTS IN FORM AND SUBSTANCE AND FROM APPRAISERS SATISFACTORY TO ADMINISTRATIVE
AGENT WHICH REPORTS SHALL (I) STATE THE THEN CURRENT FAIR MARKET VALUES OF ALL
OR ANY PORTION OF THE REAL ESTATE OWNED BY BORROWER OR ANY SUBSIDIARIES AND
(II) BE ADDRESSED TO, OR OTHERWISE PROVIDE FOR EXPRESS RELIANCE BY,
ADMINISTRATIVE AGENT AND LENDERS.
IN ADDITION TO THE FOREGOING, AT ANY TIME OR
FROM TIME TO TIME DURING THE EXISTENCE OF AN EVENT OF DEFAULT, ADMINISTRATIVE
AGENT MAY REQUIRE BORROWER TO OBTAIN AND DELIVER TO ADMINISTRATIVE AGENT
APPRAISAL REPORTS IN FORM AND SUBSTANCE AND FROM APPRAISERS REASONABLY
SATISFACTORY TO ADMINISTRATIVE AGENT STATING THE THEN CURRENT MARKET VALUES OF
ALL OR ANY PORTION OF THE REAL ESTATE AND PERSONAL PROPERTY OWNED BY BORROWER OR
ANY SUBSIDIARIES.
(P)
CREDIT PARTY INFORMATION.
WITH REASONABLE PROMPTNESS, SUCH OTHER
INFORMATION AND DATA WITH RESPECT TO ANY CREDIT PARTY AS FROM TIME TO TIME MAY
BE REASONABLY REQUESTED BY ADMINISTRATIVE AGENT OR ANY LENDER.
SECTION 4.2
PAYMENT AND PERFORMANCE OF OBLIGATIONS.
Borrower (i) will pay and discharge, and cause each Subsidiary to pay and
discharge, at or before maturity, all of their respective obligations and
liabilities, including tax liabilities, except for such obligations and/or
liabilities (A) that may be the subject of a Permitted Contest and (B) the
nonpayment or nondischarge of which could not reasonably be expected to have a
Material Adverse Effect, (ii) will maintain, and cause each Subsidiary to
maintain, in accordance with GAAP, appropriate reserves for the accrual of all
of their respective obligations and liabilities and (iii) will not breach or
permit any Subsidiary to breach, or permit to exist any default under, the terms
of any lease, commitment, contract, instrument or obligation to which it is a
party, or by which its properties or assets are bound, except for such breaches
or defaults which could not reasonably be expected to have a Material Adverse
Effect.
SECTION 4.3
MAINTENANCE OF EXISTENCE.
Borrower will preserve, renew and keep in full force and effect, and will cause
each Subsidiary to preserve, renew and keep in full force and effect, their
respective existence and their respective rights, privileges and franchises
necessary or desirable in the normal conduct of business.
SECTION 4.4
MAINTENANCE OF PROPERTY; INSURANCE.
(A)
MAINTENANCE OF PROPERTY.
BORROWER WILL KEEP, AND WILL CAUSE EACH
SUBSIDIARY TO KEEP, ALL MATERIAL PROPERTY USEFUL AND NECESSARY IN ITS BUSINESS
IN GOOD WORKING ORDER AND CONDITION, ORDINARY