CASHFLOW STATEMENT FOR THE MONTH;
(C)
A BALANCE SHEET AS AT THE END OF THE RELEVANT
MONTH;
(D)
BUSINESS PERFORMANCE KPIS AND OTHER FINANCIAL
PERFORMANCE RELATED INFORMATION REQUESTED BY THE LENDER;
(E)
DETAILS ON CAPITAL EXPENDITURE PROGRESS
UNDERTAKEN DURING THE MONTH AND PLANNED FOR THE FOLLOWING THREE MONTHS; AND
(F)
A REPORT IN THE FORM OF SCHEDULE 6 LISTING
THE AMOUNT OF THE BORROWING BASE, ELIGIBLE INVENTORY AND ELIGIBLE RECEIVABLES
FOR THE MONTH AND CONTAINING REASONABLY DETAILED CALCULATIONS ACCEPTABLE TO THE
LENDER.
(3)
BY NO LATER THAN 15 BUSINESS DAYS BEFORE
THE START OF EACH FINANCIAL YEAR, AN UPDATE OF THE APPROVED PROJECTIONS AND
BUSINESS PLAN.
(D)
(COMPLIANCE CERTIFICATES)
(1)
EACH OF THE ANNUAL ACCOUNTS AND MONTHLY
ACCOUNTS (IN RESPECT OF THE END OF AN ACCOUNTING QUARTER) MUST BE ACCOMPANIED BY
A CERTIFICATE SUBSTANTIALLY IN THE FORM OF SCHEDULE 7 SIGNED BY TWO DIRECTORS OF
THE BORROWER, WHICH WILL:
(A)
CERTIFY WHETHER OR NOT, AS AT THE DATE OF THE
RELEVANT ACCOUNTS, EACH OBLIGOR WAS IN COMPLIANCE WITH THE FINANCIAL COVENANTS
CONTAINED IN CLAUSE 9.13 (FINANCIAL COVENANTS) (IN RESPECT OF THE FINANCIAL
COVENANT IN CLAUSE 9.13(C) AND CONTAIN REASONABLY DETAILED CALCULATIONS
ACCEPTABLE TO THE LENDER; AND
(B)
CONFIRM THAT, AS AT THE DATE OF THAT
CERTIFICATE, NO DEFAULT IS OUTSTANDING OR, IF THAT IS NOT THE CASE, SET OUT
DETAILS OF ANY DEFAULT WHICH IS OUTSTANDING AND THE ACTION TAKEN OR PROPOSED TO
BE TAKEN TO REMEDY IT.
23
(2)
THE ANNUAL ACCOUNTS MUST BE ACCOMPANIED BY
A CERTIFICATE FROM THE AUDITORS WHICH WILL:
(A)
BE IN A FORM ACCEPTABLE TO THE LENDER; AND
(B)
DEMONSTRATE WHETHER OR NOT, AS AT THE DATE OF
THE RELEVANT ANNUAL ACCOUNTS, THE BORROWER WAS IN COMPLIANCE WITH THE FINANCIAL
COVENANTS CONTAINED IN CLAUSE 9.13 (FINANCIAL COVENANTS).
(E)
(GENERALLY ACCEPTED ACCOUNTING PRINCIPLES)
ALL ACCOUNTS OF ANY GROUP MEMBER DELIVERED TO THE LENDER UNDER THIS AGREEMENT
WILL BE PREPARED IN ACCORDANCE WITH THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
AND, IN THE CASE OF ANNUAL ACCOUNTS, IN COMPLIANCE WITH THE CORPORATIONS ACT (OR
SIMILAR LEGISLATION IN OTHER RELEVANT JURISDICTIONS).
(F)
(ACCOUNTING REFERENCE DATE) THE BORROWER
WILL, AND WILL PROCURE THAT EACH OF ITS SUBSIDIARIES WILL, HAVE A FINANCIAL YEAR
END WHICH IS THE SAME AS THE FINANCIAL YEAR END.
(G)
(INVESTIGATIONS)
(1)
IF THE LENDER HAS REASONABLE GROUNDS (AFTER
NOTIFYING THE BORROWER AND ALLOWING THE BORROWER 2 WEEKS TO RESPOND TO, OR
RECTIFY, THE GROUNDS RAISED IN THAT NOTICE) FOR BELIEVING THAT EITHER:
(A)
ANY ACCOUNTS OR CALCULATIONS PROVIDED UNDER
THIS AGREEMENT ARE INACCURATE OR INCOMPLETE IN ANY MATERIAL RESPECT; OR
(B)
ANY OBLIGOR IS, OR MAY IN FUTURE BE, IN
BREACH OF ANY OF ITS OBLIGATIONS UNDER CLAUSE 9.13 (FINANCIAL COVENANTS),
then the Borrower will at its own expense, if so required by the Lender,
instruct the Auditors (or other firm of accountants selected by the Lender) to
discuss the financial position of the Group with the Lender and to disclose to
the Lender (and provide copies of) such information as the Lender may reasonably