REPORT FILED WITH THE
SEC, TOGETHER WITH ANY MANAGEMENT LETTERS, MANAGEMENT REPORTS OR OTHER
SUPPLEMENTARY COMMENTS OR REPORTS TO GRANITE CITY OR ITS BOARD OF DIRECTORS
FURNISHED BY SUCH ACCOUNTANTS AND REQUESTED BY THE ADMINISTRATIVE AGENT.
(B)
AS SOON AS AVAILABLE, AND IN ANY EVENT NOT LATER THAN THE EARLIER
OF: (I) FIVE DAYS OF FILING WITH THE SEC, OR (II) 45 DAYS AFTER THE END OF EACH
FISCAL QUARTER, GRANITE CITY'S FORM 10-Q REPORT FILED WITH THE SEC, INCLUDING A
CONSOLIDATED UNAUDITED BALANCE SHEETS OF GRANITE CITY AND ITS SUBSIDIARIES AS OF
THE END OF EACH SUCH FISCAL QUARTER AND RELATED CONSOLIDATED STATEMENT OF
INCOME, CASH FLOW AND CHANGES IN FINANCIAL POSITION OF GRANITE CITY AND ITS
SUBSIDIARIES FOR EACH SUCH MONTH AND FOR THE YEAR TO DATE, IN REASONABLE DETAIL
AND STATING IN COMPARATIVE FORM THE FIGURES FOR THE CORRESPONDING DATE AND
PERIOD IN THE PREVIOUS YEAR, ALL PREPARED IN ACCORDANCE WITH GAAP APPLIED ON A
BASIS CONSISTENT WITH THE ACCOUNTING PRACTICES REFLECTED IN THE ANNUAL FINANCIAL
STATEMENTS REFERRED TO IN SECTION 4.6; AND TOGETHER WITH SUCH 10-Q REPORT, A
CERTIFICATION EVIDENCING GRANITE CITY'S COMPLIANCE WITH SECTION 5.2 (A) AND
(B) HEREOF.
(c)
Together with the financial statements furnished under (a) and
(b), a certificate of Granite City's chief financial officer, substantially in
the form of Exhibit D hereto, stating (i) that such financial statements have
been prepared in accordance with generally accepted accounting principles,
consistently applied, and fairly represent Granite City's combined, consolidated
and consolidating financial position and the results of its operations for such
period, (ii) whether or not such officer has knowledge of the occurrence of any
Default or Event of Default not theretofore reported and remedied and, if so,
stating in reasonable detail the facts with respect thereto, and (iii) all
relevant facts and reasonable detail to evidence, and the computations as to,
whether or not the Borrowers are in compliance with all financial covenants set
forth in this Agreement.
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(D)
AS SOON AS AVAILABLE AND IN ANY EVENT NOT LATER THAN 15 DAYS AFTER
EACH FISCAL MONTH-END, AN UNAUDITED INCOME STATEMENT FOR THE RESTAURANT AS OF
THE PRECEDING MONTH END AND FOR THE FISCAL YEAR-TO-DATE, TOGETHER WITH A
CERTIFICATE OF GRANITE CITY'S CHIEF FINANCIAL OFFICER CERTIFYING: (I) THAT THE
RESTAURANT INCOME STATEMENT HAS BEEN PREPARED IN ACCORDANCE WITH GAAP,
CONSISTENTLY APPLIED AND FAIRLY REPRESENTS THE RESULTS OF THE RESTAURANT'S
OPERATIONS FOR SUCH PERIOD, (II) A CALCULATION OF THE IROP (AS HEREINAFTER
DEFINED) OF THE RESTAURANT OPERATIONS FOR THE PURPOSES OF DETERMINING COMPLIANCE
WITH SECTION 5.2(A) HEREOF, AND (III) WHETHER OR NOT SUCH OFFICER HAS KNOWLEDGE
OF THE OCCURRENCE OF ANY DEFAULT OR EVENT OF DEFAULT NOT PREVIOUSLY REPORTED AND
REMEDIED AND, IF SO, STATING IN REASONABLE DETAIL THE FACTS WITH RESPECT
THERETO.
(E)
ON OR ABOUT DECEMBER 15, 2009, BUT IN ANY EVENT WITHIN 10 DAYS
AFTER THE BEGINNING OF EACH FISCAL YEAR OF THE BORROWER, THE BORROWERS WILL
DELIVER TO THE ADMINISTRATIVE AGENT THE PROJECTED FINANCIAL STATEMENTS OF THE
BORROWERS