AFTER FILING THE FINAL QUARTERLY REPORT ON FORM 10-Q WITH
THE SEC FOR SUCH FISCAL QUARTER.
6.1.3
AS SOON AS AVAILABLE, AND IN ANY EVENT WITHIN FORTY (40) DAYS AFTER
THE CLOSE OF EACH MONTH, UNAUDITED MANAGEMENT-PREPARED MONTHLY AND YEAR-TO-DATE
CONSOLIDATED FINANCIAL STATEMENTS OF GUARANTOR (WHICH SHALL INCLUDE A
CONSOLIDATED BALANCE SHEET AND A CONSOLIDATED STATEMENT OF OPERATIONS) AS OF THE
END OF EACH MONTH, ALL IN REASONABLE DETAIL AND PREPARED IN CONFORMITY WITH THE
GUARANTOR'S PRIOR INTERNAL MONTHLY REPORTING PRACTICES, ALL OF WHICH SHALL BE
PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND NOT FOR DETERMINING COMPLIANCE WITH
ANY COVENANTS IN THIS AGREEMENT.
6.1.4
ON EACH TUESDAY AFTER THE CLOSING DATE, A REPORT REFLECTING THE
BALANCES OF CASH AND CASH EQUIVALENTS IN ALL ACCOUNTS OF THE BORROWERS AND
GUARANTOR FOR EACH DAY OF THE PREVIOUS WEEK.
6.1.5
WITHIN SIXTY (60) DAYS AFTER THE END OF EACH FISCAL YEAR, A
MANAGEMENT-PREPARED BUSINESS PLAN AND BUDGET OF GUARANTOR, BORROWERS, AND
GUARANTOR'S OTHER SUBSIDIARIES FOR THE THEN-CURRENT FISCAL YEAR.
50
6.1.6
WITHIN SIXTY (60) DAYS AFTER THE END OF EACH FISCAL YEAR, A
COMPARISON OF THE BORROWERS' AND GUARANTOR'S ACTUAL RESULTS DURING THE PRECEDING
FISCAL YEAR WITH THE BUDGETED RESULTS FOR SUCH PERIOD.
6.1.7
WITHIN TEN (10) DAYS OF THE END OF EACH MONTH, A DETAILED SALES
ACTIVITY REPORT PREPARED BY BORROWERS FOR EACH PROJECT.
6.1.8
WITHIN TWENTY (20) DAYS OF THE LAST DAY OF EACH MONTH, A 13-WEEK
CASH FLOW STATEMENT (REFLECTING THE 13-WEEK CASH FLOW FROM THE DATE OF DELIVERY
OF SUCH STATEMENT) AND RECONCILIATION OF VARIANCES FROM THE PREVIOUS MONTH'S
13-WEEK CASH FLOW STATEMENT.
6.1.9
WITHIN FIFTEEN (15) DAYS AFTER THE END OF EACH FISCAL QUARTER, AN
AGING REPORT OF ALL LOTS OWNED BY ANY BORROWER.
6.1.10
PROMPT NOTIFICATION OF (I) THE INSTITUTION OF ANY MATERIAL
LITIGATION OR THE COMMENCEMENT OF ANY MATERIAL ADMINISTRATIVE PROCEEDINGS
AGAINST A BORROWER OR GUARANTOR, (II) THE ENTRY OF ANY JUDGMENT AGAINST ANY
BORROWER OR GUARANTOR IN AN AMOUNT IN EXCESS OF $250,000, (III) THE OCCURRENCE
OF ANY DEFAULT WITH RESPECT TO ANY OHI FINANCING SUBORDINATED DEBT OR
SUBORDINATED DEBT OR (IV) THE HAPPENING OF ANY OTHER EVENT WHICH WOULD HAVE A
MATERIAL ADVERSE EFFECT UPON BORROWERS OR GUARANTOR.
6.1.11
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, A WRITTEN NOTICE SETTING
FORTH THE DETAILS OF SUCH EVENT OF DEFAULT AND THE ACTION WHICH IS PROPOSED TO
BE TAKEN BY BORROWERS WITH RESPECT THERETO.
6.1.12
AS SOON AS POSSIBLE AND IN ANY EVENT WITHIN FIVE (5) DAYS AFTER ANY
BORROWER OR GUARANTOR KNOWS OR HAS REASON TO KNOW THAT ANY REPORTABLE EVENT OR
PROHIBITED TRANSACTION HAS OCCURRED WITH RESPECT TO ANY PLAN OR THAT THE PBGC,
ANY BORROWER OR GUARANTOR HAS INSTITUTED OR WILL INSTITUTE PROCEEDINGS UNDER
TITLE IV OF ERISA TO TERMINATE ANY PLAN, BORROWERS WILL DELIVER TO AGENT A
CERTIFICATE OF THE CHIEF FINANCIAL OFFICER OF GUARANTOR SETTING FORTH DETAILS AS
TO SUCH REPORTABLE EVENT OR PROHIBITED TRANSACTION OR PLAN TERMINATION AND THE
ACTION SUCH BORROWER OR GUARANTOR PROPOSES TO TAKE WITH RESPECT