BY BORROWER OF A PETITION FOR
APPOINTMENT AS DEBTOR-IN-POSSESSION UNDER TITLE 11 OF THE U.S. CODE);
(2) BORROWER FAILS TO OBTAIN THE DISMISSAL OR STAY ON APPEAL WITHIN FORTY-FIVE
(45) CALENDAR DAYS OF THE COMMENCEMENT OF ANY PROCEEDING ARRANGEMENT REFERRED TO
IN (1) ABOVE; (3) BORROWER BEGINS ANY OTHER PROCEDURE FOR THE RELIEF OF
FINANCIALLY DISTRESSED OR INSOLVENT DEBTORS, OR SUCH PROCEDURE HAS BEEN
COMMENCED AGAINST IT, WHETHER VOLUNTARILY OR INVOLUNTARILY, AND SUCH PROCEDURE
HAS NOT BEEN EFFECTIVELY TERMINATED, DISMISSED OR STAYED WITHIN FORTY-FIVE (45)
CALENDAR DAYS AFTER THE COMMENCEMENT THEREOF; OR (4) BORROWER BEGINS ANY
PROCEDURE FOR ITS DISSOLUTION, OR A PROCEDURE THEREFOR HAS BEEN COMMENCED
AGAINST IT.
6.4
REPORTING REQUIREMENTS.
(A)
INVENTORY REPORTS.
BORROWER SHALL DELIVER
TO BANK, AS SOON AS AVAILABLE, BUT NO LATER THAN THIRTY (30) DAYS FOLLOWING THE
LAST DAY OF EACH MONTH, A LISTING OF BORROWER'S ELIGIBLE EXPORT-RELATED
INVENTOR, OR SUCH OTHER INVENTORY REPORTS AS ARE REQUESTED BY BANK.
(B)
COMPLIANCE CERTIFICATES.
BORROWER SHALL
DELIVER TO BANK, WITH EACH INVOICE TRANSMITTAL AND TOGETHER WITH THE COMPLIANCE
CERTIFICATE AS AND WHEN REQUIRED PURSUANT TO THE DOMESTIC AGREEMENT, A
COMPLIANCE CERTIFICATE IN THE FORM OF EXHIBIT B HERETO.
8
(c)
Other Reporting Requirements.
Borrower shall
deliver all reports, certificates and other documents to Bank as provided in the
Borrower Agreement and as Bank and Exim Bank may reasonably request.
In
addition, Borrower shall comply with the reporting requirements set forth in the
Domestic Loan Documents.
6.5
EXIM INSURANCE.
IF REQUIRED BY BANK, BORROWER
WILL OBTAIN, AND PAY WHEN DUE ALL PREMIUMS WITH RESPECT TO, AND MAINTAIN
UNINTERRUPTED FOREIGN CREDIT INSURANCE.
IN ADDITION, BORROWER WILL EXECUTE IN
FAVOR OF BANK AN ASSIGNMENT OF PROCEEDS OF ANY INSURANCE POLICY OBTAINED BY
BORROWER AND ISSUED BY EXIM BANK INSURING AGAINST COMPREHENSIVE COMMERCIAL AND
POLITICAL RISK (THE "EXIM BANK POLICY").
THE INSURANCE PROCEEDS FROM THE EXIM
BANK POLICY ASSIGNED OR PAID TO BANK WILL BE APPLIED TO THE BALANCE OUTSTANDING
UNDER THIS EXIM AGREEMENT. BORROWER WILL IMMEDIATELY NOTIFY BANK AND EXIM BANK
IN WRITING UPON SUBMISSION OF ANY CLAIM UNDER THE EXIM BANK POLICY.
6.6
FURTHER ASSURANCES.
BORROWER SHALL EXECUTE
ANY FURTHER INSTRUMENTS AND TAKE FURTHER ACTION AS BANK REASONABLY REQUESTS TO
PERFECT OR CONTINUE BANK'S SECURITY INTEREST IN THE COLLATERAL OR TO EFFECT THE
PURPOSES OF THIS EXIM AGREEMENT.
7
NEGATIVE COVENANTS
Borrower shall not do any of the following without Bank's prior written consent.
7.1
DOMESTIC LOAN DOCUMENTS.
VIOLATE OR OTHERWISE
FAIL TO COMPLY WITH ANY PROVISIONS OF THE DOMESTIC LOAN DOCUMENTS, WHICH
PROVISIONS ARE INCORPORATED INTO THIS EXIM AGREEMENT.
7.2
BORROWER AGREEMENT.
VIOLATE OR OTHERWISE FAIL
TO COMPLY WITH ANY PROVISION OF THE BORROWER AGREEMENT, INCLUDING, WITHOUT
LIMITATION, THE NEGATIVE COVENANTS SET FORTH IN SECTION 2.22.
7.3
EXIM GUARANTEE.
TAKE ANY ACTION, OR PERMIT
ANY ACTION TO BE TAKEN, THAT CAUSES OR, WITH THE PASSAGE OF TIME, COULD
REASONABLY BE EXPECTED TO CAUSE, THE EXIM GUARANTEE TO CEASE TO BE IN FULL FORCE
AND EFFECT.
8
EVENTS OF DEFAULT
Any one of the following shall constitute