DAYS AFTER THE OCCURRENCE OF EACH SUCH EVENT, PROVIDE WRITTEN NOTICE IN
REASONABLE DETAIL OF EACH OF THE FOLLOWING:
(A)
OCCURRENCE OF A DEFAULT. THE OCCURRENCE OF
ANY EVENT OF DEFAULT OR ANY EVENT WHICH WITH THE GIVING OF NOTICE OR THE PASSAGE
OF TIME OR BOTH WOULD CONSTITUTE AN EVENT OF DEFAULT;
(B)
BORROWER'S TRADE NAMES; PLACE OF BUSINESS.
ANY CHANGE OF BORROWER'S (OR ANY SUBSIDIARY'S) NAME, TRADE NAME OR PLACE OF
BUSINESS, OR CHIEF EXECUTIVE OFFICER;
4
(C)
LITIGATION. ANY ACTION, CLAIM, PROCEEDING,
LITIGATION OR INVESTIGATION THREATENED OR INSTITUTED BY OR AGAINST OR AFFECTING
BORROWER (OR ANY SUBSIDIARY) IN ANY COURT OR BEFORE ANY GOVERNMENT AUTHORITY,
ADMINISTRATOR OR AGENCY WHICH MAY MATERIALLY AND ADVERSELY AFFECT BORROWER'S (OR
ANY SUBSIDIARY'S) FINANCIAL CONDITION OR BUSINESS OR BORROWER'S ABILITY TO CARRY
ON ITS BUSINESS IN SUBSTANTIALLY THE SAME MANNER AS IT IS NOW BEING CONDUCTED;
(D)
UNINSURED OR PARTIALLY UNINSURED LOSS. ANY
UNINSURED OR PARTIALLY UNINSURED LOSS THROUGH LIABILITY OR PROPERTY DAMAGE OR
THROUGH FIRE, THEFT OR ANY OTHER CAUSE AFFECTING BORROWER'S (OR ANY
SUBSIDIARY'S) PROPERTY IN EXCESS OF THE AGGREGATE AMOUNT REQUIRED HEREUNDER;
(E)
REPORTS MADE TO INSURANCE COMPANIES. COPIES
OF ALL MATERIAL REPORTS MADE TO INSURANCE COMPANIES; AND
(F)
ERISA. THE OCCURRENCE AND NATURE OF ANY
REPORTABLE EVENT OR PROHIBITED TRANSACTION, EACH AS DEFINED IN ERISA, OR ANY
FUNDING DEFICIENCY WITH RESPECT TO ANY PLAN.
4.3
BOOKS AND RECORDS. MAINTAIN AT BORROWER'S ADDRESS BOOKS AND
RECORDS IN ACCORDANCE WITH GAAP, AND PERMIT ANY REPRESENTATIVE OF TRADE BANK, AT
ANY REASONABLE TIME, TO INSPECT, AUDIT AND EXAMINE SUCH BOOKS AND RECORDS, TO
MAKE COPIES OF THEM, AND TO INSPECT THE PROPERTIES OF BORROWER UPON PRIOR NOTICE
DURING NORMAL BUSINESS HOURS.
4.4
TAX RETURNS AND PAYMENTS. TIMELY FILE ALL TAX RETURNS AND REPORTS
REQUIRED BY FOREIGN, FEDERAL, STATE AND LOCAL LAW, AND TIMELY PAY ALL FOREIGN,
FEDERAL, STATE AND LOCAL TAXES, ASSESSMENTS, DEPOSITS AND CONTRIBUTIONS OWED BY
BORROWER. BORROWER MAY, HOWEVER, DEFER PAYMENT OF ANY CONTESTED TAXES, PROVIDED
THAT BORROWER (I) IN GOOD FAITH CONTESTS BORROWER'S OBLIGATION TO PAY THE TAXES
BY APPROPRIATE PROCEEDINGS PROMPTLY INSTITUTED AND DILIGENTLY CONDUCTED,
(II) NOTIFIES TRADE BANK IN WRITING OF THE COMMENCEMENT OF, AND ANY MATERIAL
DEVELOPMENT IN, THE PROCEEDINGS, (III) POSTS BONDS OR TAKES ANY OTHER STEPS
REQUIRED TO KEEP THE CONTESTED TAXES FROM BECOMING A LIEN UPON ANY OF THE
COLLATERAL, AND (IV) MAKES PROVISION, TO TRADE BANK'S SATISFACTION, FOR EVENTUAL
PAYMENT OF SUCH TAXES IN THE EVENT BORROWER IS OBLIGATED TO MAKE SUCH PAYMENT.
4.5
COMPLIANCE WITH LAWS. COMPLY IN ALL MATERIAL RESPECTS WITH THE
PROVISIONS OF ALL FOREIGN, FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS
RELATING TO BORROWER, INCLUDING, BUT NOT LIMITED TO, THOSE RELATING TO
BORROWER'S OWNERSHIP OF REAL OR PERSONAL PROPERTY, THE CONDUCT AND LICENSING OF
BORROWER'S BUSINESS, AND HEALTH AND ENVIRONMENTAL MATTERS.
4.6
TAXES AND OTHER LIABILITIES. PAY AND DISCHARGE WHEN DUE ANY AND
ALL INDEBTEDNESS, OBLIGATIONS, ASSESSMENTS AND TAXES, BOTH REAL AND PERSONAL,
INCLUDING WITHOUT LIMITATION FEDERAL AND STATE INCOME TAXES AND STATE AND LOCAL
PROPERTY