OR SITE, ARRANGES OR HAS ARRANGED FOR DISPOSAL OR TREATMENT OF
HAZARDOUS SUBSTANCES, SOLID WASTE OR OTHER WASTES, ACCEPTS OR HAS ACCEPTED FOR
TRANSPORT ANY HAZARDOUS SUBSTANCES, SOLID WASTE OR OTHER WASTES OR HOLDS OR HAS
HELD ANY INTEREST IN REAL PROPERTY OR OTHERWISE.
NEITHER THE BORROWER NOR ANY
SUBSIDIARY HAS RECEIVED ANY NOTICE TO THE EFFECT THAT ITS OPERATIONS ARE NOT IN
MATERIAL COMPLIANCE WITH ANY OF THE REQUIREMENTS OF APPLICABLE ENVIRONMENTAL
LAWS OR ARE THE SUBJECT OF ANY FEDERAL OR STATE INVESTIGATION EVALUATING WHETHER
ANY REMEDIAL ACTION IS NEEDED TO RESPOND TO A RELEASE OF ANY TOXIC OR HAZARDOUS
WASTE OR SUBSTANCE INTO THE ENVIRONMENT, WHICH NON-COMPLIANCE OR REMEDIAL ACTION
COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT.
5.17.
INVESTMENT COMPANY ACT.
NEITHER THE BORROWER NOR
ANY SUBSIDIARY IS AN "INVESTMENT COMPANY" OR A COMPANY "CONTROLLED" BY AN
"INVESTMENT COMPANY", WITHIN THE MEANING OF THE INVESTMENT COMPANY ACT OF 1940,
AS AMENDED.
5.18.
INTENTIONALLY OMITTED.
5.19.
INSURANCE.
THE BORROWER MAINTAINS, AND HAS CAUSED
EACH SUBSIDIARY TO MAINTAIN, WITH FINANCIALLY SOUND AND REPUTABLE INSURANCE
COMPANIES INSURANCE ON ALL THEIR PROPERTY IN SUCH AMOUNTS, SUBJECT TO SUCH
DEDUCTIBLES AND SELF-INSURANCE RETENTIONS AND COVERING SUCH PROPERTIES AND RISKS
AS IS CONSISTENT WITH SOUND BUSINESS PRACTICE.
5.20.
NO DEFAULT OR UNMATURED DEFAULT.
NO DEFAULT OR
UNMATURED DEFAULT HAS OCCURRED AND IS CONTINUING.
5.21.
SDN LIST DESIGNATION.
NEITHER THE BORROWER NOR ANY
OF ITS SUBSIDIARIES OR AFFILIATES IS A COUNTRY, INDIVIDUAL OR ENTITY NAMED ON
THE SPECIFICALLY DESIGNATED NATIONAL AND BLOCKED PERSONS (SDN)
47
LIST ISSUED BY THE OFFICE OF FOREIGN ASSET CONTROL OF THE DEPARTMENT OF THE
TREASURY OF THE UNITED STATES OF AMERICA.
5.22.
AMOUNT OF SECURED OBLIGATIONS.
SO LONG AS ANY NOTE
DOCUMENTS ARE IN EFFECT, ANY NOTES ARE OUTSTANDING AND THE INDEBTEDNESS
THEREUNDER IS OUTSTANDING, THE AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF SECURED
OBLIGATIONS DOES NOT, AND AFTER GIVING EFFECT TO EACH CREDIT EXTENSION WILL NOT,
EXCEED THE MAXIMUM SECURED OBLIGATIONS AMOUNT.
ARTICLE VI
COVENANTS
During the term of this Agreement, unless the Required Lenders shall otherwise
consent in writing:
6.1.
FINANCIAL REPORTING.
THE BORROWER WILL
MAINTAIN, FOR ITSELF AND EACH SUBSIDIARY, A SYSTEM OF ACCOUNTING ESTABLISHED AND
ADMINISTERED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AND
FURNISH TO THE LENDERS:
6.1.1
WITHIN 90 DAYS AFTER THE CLOSE OF EACH OF ITS FISCAL YEARS, FINANCIAL
STATEMENTS PREPARED IN ACCORDANCE WITH AGREEMENT ACCOUNTING PRINCIPLES ON A
CONSOLIDATED BASIS FOR ITSELF AND ITS SUBSIDIARIES, INCLUDING BALANCE SHEETS AS
OF THE END OF SUCH PERIOD, STATEMENTS OF INCOME AND STATEMENTS OF CASH FLOWS,
ACCOMPANIED BY (A) AN AUDIT REPORT, UNQUALIFIED AS TO SCOPE, OF A NATIONALLY
RECOGNIZED FIRM OF INDEPENDENT PUBLIC ACCOUNTANTS OR OTHER INDEPENDENT PUBLIC
ACCOUNTANTS REASONABLY ACCEPTABLE TO THE REQUIRED LENDERS; (B) ANY MANAGEMENT
LETTER PREPARED BY SAID ACCOUNTANTS AND (C) A CERTIFICATE OF SAID ACCOUNTANTS
THAT, IN THE COURSE OF THEIR EXAMINATION NECESSARY FOR THEIR CERTIFICATION OF
THE FOREGOING, NO DEFAULT OR UNMATURED DEFAULT HAS COME TO THEIR ATTENTION, OR
IF, IN THE OPINION OF SUCH ACCOUNTANTS,