Common use of Employee Reporting Requirement Clause in Contracts

Employee Reporting Requirement. (a) At or prior to closing of the Loan, the Borrower shall submit to the Department a list of the names of the Employees as of the First Employee Date. The list shall contain the social security number, the average hours worked, or expected to be worked, for the year, the hourly or annual pay rate, and a general description of available benefits for each of the listed Employees. An officer of the Borrower shall certify to the Department that: the list is true and accurate as of the date of this Agreement; the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences Center. (b) On January 10 of each year beginning with January 10, 2000 and ending on January 10, 2005, for the Second Period, Third Period, Fourth Period, Fifth Period, Sixth Period and Seventh Period, the Borrower shall submit to the Department a list of the names of the Employees The list shall contain the social security number, the average hours worked for the prior year, the hourly or annual pay rate, and a general description of available benefits for each of the listed Employees. The report shall list all of the required information as of June 30 and December 31 of the applicable year. An officer of the Borrower shall certify to the Department that: the list is true and accurate as of the applicable dates; the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences Center. (c) On or before July 10, 2005, for the Eighth Period, the Borrower shall submit to the Department a list of the names of the Employees. The list shall contain the social security number, the average hours worked for the Eighth Period, the hourly or annual pay rate, and a general description of available benefits for each of the listed Employees. The report shall list all of the required information as of March 31, 2005 and June 30, 2005. An officer of the Borrower shall certify to the Department that: the list is true and accurate as of the applicable dates: the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences Center. (d) Upon the request of the Department, the Borrower covenants to provide the Department with any information and reports that the Department determines, in its reasonable discretion, are needed to confirm or verify the employment information submitted by the Borrower for the Employees. The Borrower and BioReliance Testing shall permit the Department to inspect the employee records of the Borrower and the Borrower's Subsidiaries to confirm the employee information submitted by Borrower for the Employees. (e) The Department shall have 30 days from the date the Borrower submits the documentation required in subsection (a) through (e) to determine the interest rate charged for the remaining term of the Loan.

Employee Reporting Requirement. (a) 1. At or prior to closing of the Loan, the Borrower shall submit to the Department Lender (i) a list of the names of all of the Employees employed at the Facility as of the First Employee Date. The list shall contain month prior to closing, and (ii) the social security number, the average hours worked, or expected to be worked, for the year, the hourly or annual pay rate, and a general description of available benefits for each of the listed EmployeesEmployee. An officer of the Borrower shall certify to the Department that: Lender that (1) the list is true and accurate as accurate, (2) the employees listed meet the definition of Employees, and (3) each of the date of this Agreement; Employees listed is employed at the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences CenterFacility. (b) On 2. By January 10 of each year beginning with January 1031, 2000 and ending on January 10, 2005, for the Second Period, Third Period, Fourth Period, Fifth Period, Sixth Period and Seventh Period2003, the Borrower shall submit to the Department Lender (i) a list of the names of all of the Employees The list shall contain employed at the Facility as of December 31, 2002, and (ii) the social security number, the average hours worked worked, or expected to be worked, for the prior year, the hourly or annual pay rate, and a general description of available benefits for each of the listed Employees. The report shall list all of the required information as of June 30 and December 31 of the applicable yearEmployee. An officer of the Borrower shall certify to the Department that: Lender that (1) the list is true and accurate as accurate, (2) the employees listed meet the definition of Employees, and (3) each of the applicable dates; Employees listed is employed at the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences CenterFacility. (c) On or before July 103. By January 31st of each year, 2005, for the Eighth Periodbeginning 2004 and continuing through 2007, the Borrower shall submit to the Department Lender for the Second Period, Third Period, Fourth Period and Fifth Period, a list of report that contains (i) the names of all of the Employees. The list shall contain , and (ii) the social security number, the average hours worked worked, or expected to be worked, for the Eighth Periodyear, the hourly or annual pay rate, and a general description of available benefits for each of the listed EmployeesEmployee. The Each report shall list all of contain the required information as of March 31, 2005 June 30 and June 30, 2005December 31st of the applicable one-year period. An officer of the Borrower shall certify to the Department that: Lender that (1) the list is true and accurate as accurate, (2) the employees listed meet the definition of Employees, and (3) each of the applicable dates: Employees listed is employed at the Employees are employed by the Borrower or one of the Borrower's Subsidiaries; and the Employees work in the Life Sciences CenterFacility. (d) 4. Upon the request of the DepartmentLender, the Borrower covenants to provide the Department Lender with any information and reports that the Department Lender determines, in its reasonable discretion, are needed to confirm or verify the employment information submitted by the Borrower for the EmployeesBorrower. The Borrower and BioReliance Testing shall permit the Department Lender to inspect the employee records of the Borrower and the Borrower's Subsidiaries to confirm the employee information submitted by Borrower for to the EmployeesLender. (e) The Department shall have 30 days from the date the Borrower submits the documentation required in subsection (a) through (e) to determine the interest rate charged for the remaining term of the Loan.