Common use of Additional Promises Clause in Contracts

Additional Promises. Dealership and, only where expressly applicable, Vroom promise and covenant to comply with the following: 1. The Dealership will provide each of the Ally Parties with accurate and complete information, data, books, records, documentation, and the like, concerning: (a) All material financial and business matters of Dealership, upon request by either or both of the Ally Parties; and (b) All material changes concerning the Dealership’s name, address, tax status, entity, structure, capitalization, indebtedness, solvency, and ownership, promptly following any change. 2. The Dealership and Vroom will provide each of the Ally Parties with: (a) Copies of Vroom’s monthly financial statements as soon as reasonably practicable after their preparation, but, in any event, within forty (40) days of the end of each calendar month; (b) Copies of Vroom’s quarterly financial statements within fifteen (15) days of completion of such statements, but not later than forty-five (45) days of the quarter end; (c) Copies of Vroom’s annual audited financial statements within fifteen (15) days of completion of such statements, but not later than May 1 of each year; (d) Copies of the Dealership’s bank account statements, with accompanying reconciliations, to be provided quarterly within the month immediately following the end of each calendar quarter (e.g., March 2020 bank statements and reconciliations must be received by the Ally Parties on or before April 30, 2020); and (e) A monthly certification of compliance with the Financial Covenants described below, at the same time each monthly financial statement is to be provided to the Ally Parties. 3. The Dealership and Vroom will comply with the following financial covenants, tested monthly (as of month-end) based on the Dealership’s monthly financial statements:

Additional Promises. Dealership and, only where expressly applicable, Vroom promise and covenant to comply with the following: 1. The Dealership will provide each of the Ally Parties with accurate and complete information, data, books, records, documentation, and the like, concerning: (a) i. All material financial and business matters of Dealership, upon request by either or both of the Ally Parties; and (b) ii. All material changes concerning the Dealership’s name, address, tax status, entity, structure, capitalization, indebtedness, solvency, and ownership, promptly following any change. 2. The Dealership and Vroom will provide each of the Ally Parties with: (a) i. Copies of Vroom’s monthly financial statements as soon as reasonably practicable after their preparation, but, in any event, within forty (40) days of the end of each calendar month; (b) ii. Copies of Vroom’s quarterly financial statements within fifteen (15) days of completion of such statements, but not later than forty-five (45) days of the quarter end; (c) iii. Copies of Vroom’s annual audited financial statements within fifteen (15) days of completion of such statements, but not later than May 1 of each year; (d) iv. Copies of the Dealership’s bank account statements, with accompanying reconciliations, to be provided quarterly within the month immediately following the end of each calendar quarter (e.g., March 2020 bank statements and reconciliations must be received by the Ally Parties on or before April 30, 2020); and (e) A monthly certification of compliance with the Financial Covenants described below, at the same time each monthly financial statement is to be provided to the Ally Parties. 3. The Dealership and Vroom will comply with the following financial covenants, tested monthly (as of month-end) based on the Dealership’s monthly financial statements:quarter;