Common use of Monthly Reporting Requirements Clause in Contracts

Monthly Reporting Requirements. If a European Subsidiary becomes an Additional Borrower the relevant Obligor shall use all reasonable endeavours to furnish to the Agent at the end of each fiscal month a report that details the levels of creditors owed by Salton Hong Kong Limited for goods supplied to the relevant European Subsidiary. PART 1 FORMS OF REQUEST PART I - FORM OF PURCHASE REQUEST [On letterhead of relevant Borrower] Date: __________ To: Burdale Financial Limited (as Agent) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, We refer to the Facility Agreement, terms defined in which have the same meaning when used in this Purchase Request. 1. [We hereby offer to sell to the Agent all our present and future Receivables (during the continuance of the Facility Agreement) subject to the terms of the Facility Agreement (including in relation to the calculation of the Purchase Price). This offer shall be regarded as a single composite offer which may be accepted or rejected in its entirety but not in part only. Your acceptance of this offer shall be demonstrated in the manner set out in Clause 7.1 (Sale of Receivables) of the Facility Agreement]. [NB - PARAGRAPH TO BE INSERTED IN FIRST PURCHASE REQUEST ONLY]. 2. We wish to confirm our sale to the Lender, pursuant to the terms of our first Purchase Request, of the Receivables numbered _____ amounting to L_____ details of which are set out in the attached Schedule, initialled on each page for the purposes of identification. 3. We hold the invoices strictly to your order and agree to supply it, or a copy (certified by an officer of the relevant Borrower or otherwise as the Agent may from time to time approve) together with certified copies of relevant shipping documents in respect of such Receivables, and a copy of our irrevocable instructions to the account debtor to pay the full invoice amount of the relevant Receivable (without deduction, withholding or set off) on the Maturity Date to a Blocked Account, forthwith upon your request. 4. We further confirm that the relevant Receivables referred to in this letter are readily identifiable from our books. We confirm that no Default has occurred and is continuing or would result from the Lender purchasing the Receivables offered, no Availability Limit will be breached as a result of the Lender purchasing the Receivables offered and all the representations and warranties in Clause 19 (Representations and Warranties) of the Facility Agreement which are to be made or repeated as at the date of this Purchase Request are true and correct. Yours faithfully ------------------------------------- for and on behalf of [Borrower] SCHEDULE INVOICE NO ACCOUNT DEBTOR INVOICE DATE ---------- -------------- ------------ PART II - FORM OF CASH REQUEST [On letterhead of relevant Borrower] Date: ___________ To: Burdale Financial Limited (as Agent) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning when used in this Cash Request. Pursuant to the terms of the Facility Agreement, we wish you to pay to us the sum of L_______ ([WRITE AMOUNT IN WORDS ALSO]) as follows: (a) Utilisation Date: __________ (b) Payment Instructions: Please credit the following account:

Monthly Reporting Requirements. If a European Subsidiary becomes an Additional Borrower the relevant Obligor shall use all reasonable endeavours to furnish to the Agent at the end of each fiscal month a report that details the levels of creditors owed by Salton Hong Kong Limited for goods supplied to the relevant European Subsidiary. PART 1 FORMS OF REQUEST PART I - FORM OF PURCHASE REQUEST [On letterhead of relevant Borrower] Date: __________ To: Burdale Financial Limited (as Agent) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, We refer to the Facility Agreement, terms defined in which have the same meaning when used in this Purchase Request.▇▇ LONDON W1G 9HP Attention: Finance Director Dear Sirs, 1. [We hereby offer to sell to the Agent all our present and future Receivables (during the continuance of the Facility Agreement) subject to the terms of the Facility Agreement (including in relation to the calculation of the Purchase Price). This offer shall be regarded as a single composite offer which may be accepted or rejected in its entirety but not in part only. Your acceptance of this offer shall be demonstrated in the manner set out in Clause 7.1 (Sale of Receivables) of the Facility Agreement]. [NB - PARAGRAPH TO BE INSERTED IN FIRST PURCHASE REQUEST ONLY]. 2. We wish to confirm our sale to the Lender, pursuant to the terms of our first Purchase Request, of the Receivables numbered __________ amounting to L__________ details of which are set out in the attached Schedule, initialled on each page for the purposes of identification. 3. We hold the invoices strictly to your order and agree to supply it, or a copy (certified by an officer of the relevant Borrower or otherwise as the Agent may from time to time approve) together with certified copies of relevant shipping documents in respect of such Receivables, and a copy of our irrevocable instructions to the account debtor to pay the full invoice amount of the relevant Receivable (without deduction, withholding or set off) on the Maturity Date to a Blocked Account, forthwith upon your request. 4. We further confirm that the relevant Receivables referred to in this letter are readily identifiable from our books. We confirm that no Default has occurred and is continuing or would result from the Lender purchasing the Receivables offered, no Availability Limit will be breached as a result of the Lender purchasing the Receivables offered and all the representations and warranties in Clause 19 (Representations and Warranties) of the Facility Agreement which are to be made or repeated as at the date of this Purchase Request are true and correct. Yours faithfully ------------------------------------- for and on behalf of [Borrower] SCHEDULE INVOICE NO ACCOUNT DEBTOR INVOICE DATE ---------- -------------- ------------DATE PART II - FORM OF CASH REQUEST [On letterhead of relevant Borrower] Date: ___________ To: Burdale Financial Limited (as Agent) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ LONDON W1G 9HP Attention: Finance Director Dear Sirs, We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning when used in this Cash Request. Pursuant to the terms of the Facility Agreement, we wish you to pay to us the sum of L__________ ([WRITE AMOUNT IN WORDS ALSO]) as follows: (a) Utilisation Date: __________ (b) Payment Instructions: Please credit the following account:

Monthly Reporting Requirements. If a European Subsidiary becomes an Additional Borrower the relevant Each Obligor shall use all reasonable endeavours to will furnish to the Agent at Lender (in a format acceptable to the Lender): (a) on a monthly basis, a stock report in the form from time to time required by the Lender; (b) within 15 days of the end of each fiscal month or at such other times and with respect to such other periods as the Lender may require, full details (in such form as the Lender may from time to time require) of: (i) a summary of ageings of payables and a detailed ageing of Receivables with dated invoices; (ii) the sales book for the month, listing invoices delivered; (iii) details of any new retention of title clauses imposed by suppliers; (iv) a report that details showing Stock and sales days, Stock returned by distributors and Stock discontinued; (v) a list of all shipments of Goods on water, showing those where bills of lading are held and those where they are awaited; (vi) a reconciliation of roll forward of Stock and Receivables to aged listings and to management accounts; and (vii) all Stock by category and location; (c) as soon as the levels same become available, but in any event within 30 days after the end of creditors owed by Salton Hong Kong Limited for goods supplied each monthly management accounting period (and in each case in a format acceptable to the relevant European Subsidiary.Lender): PART 1 FORMS OF REQUEST(i) fall individual and consolidated accounts for that period for itself and each Obligor, including profit and loss, balance sheet and cashflow statements; PART I - FORM OF PURCHASE REQUEST [On letterhead (ii) details of relevant Borrower] Date: __________ To: Burdale Financial Limited Stock figures and valuations for that month, a breakdown of the value and identity of preferential creditors for that month and details of all input and output VAT; and (iii) a report on future capital expenditure requirements; (d) together with the accounts referred to in (c) above, a certificate from a Director of the Company confirming that the Company was in compliance with the Trading Cashflow Covenant in paragraph (B) below as Agentat the date to which such accounts were made up; and (e) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇on a monthly basis and on a best endeavours basis, a summary of inventory held by I▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, We refer to the Facility Agreement, terms defined in which have the same meaning when used in this Purchase Request. 1. [We hereby offer to sell to the Agent all our present and future Receivables (during the continuance of the Facility Agreement) subject to the terms of the Facility Agreement (including in relation to the calculation of the Purchase Price). This offer shall be regarded as a single composite offer which may be accepted or rejected in its entirety but not in part only. Your acceptance of this offer shall be demonstrated in the manner set out in Clause 7.1 (Sale of Receivables) of the Facility Agreement]. [NB - PARAGRAPH TO BE INSERTED IN FIRST PURCHASE REQUEST ONLY]. 2. We wish to confirm our sale to the Lender, pursuant to the terms of our first Purchase Request, of the Receivables numbered _____ amounting to L_____ details of which are set out in the attached Schedule, initialled on each page for the purposes of identification. 3. We hold the invoices strictly to your order and agree to supply it, or a copy (certified by an officer of the relevant Borrower or otherwise as the Agent may from time to time approve) together with certified copies of relevant shipping documents in respect of such Receivables, and a copy of our irrevocable instructions to the account debtor to pay the full invoice amount of the relevant Receivable (without deduction, withholding or set off) on the Maturity Date to a Blocked Account, forthwith upon your request. 4. We further confirm that the relevant Receivables referred to in this letter are readily identifiable from our books. We confirm that no Default has occurred and is continuing or would result from the Lender purchasing the Receivables offered, no Availability Limit will be breached as a result of the Lender purchasing the Receivables offered and all the representations and warranties in Clause 19 (Representations and Warranties) of the Facility Agreement which are to be made or repeated as at the date of this Purchase Request are true and correct. Yours faithfully ------------------------------------- for and on behalf of [Borrower] SCHEDULE INVOICE NO ACCOUNT DEBTOR INVOICE DATE ---------- -------------- ------------ PART II - FORM OF CASH REQUEST [On letterhead of relevant Borrower] Date: ___________ To: Burdale Financial Limited (as Agent) 53 Queen Anne Street LONDON W1G 9HP Attention: Finance Di▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning when used in this Cash Request. Pursuant to the terms of the Facility Agreement, we wish you to pay to us the sum of L_______ ([WRITE AMOUNT IN WORDS ALSO]) as follows: (a) Utilisation Date: __________ (b) Payment Instructions: Please credit the following account:Obligors.