Common use of Reporting and Recordkeeping Clause in Contracts

Reporting and Recordkeeping. a. Borrower will provide a report to NCUA at the time of, and together with, each periodic payment due under the Promissory Note, addressing the following topics: i. the use of Loan proceeds, including how successful Borrower has been in implementing any new programs and initiatives; ii. the impact such programs have had on the membership and the community served by Borrower, including how such impact is measured; and iii. any obstacles encountered that affect Borrower’s ability to accomplish the objectives identified in its Loan application, and what plans Borrower has to overcome the obstacles. b. Upon NCUA’s request, Borrower will promptly deliver to NCUA such other information about the business, operations, revenues, financial condition, property, or business prospects of Borrower as NCUA may, from time to time, reasonably request to permit NCUA to maintain or perfect its security interest in any collateral and to fully effectuate the purpose of this Loan Agreement. c. Borrower will, promptly upon obtaining knowledge or notice thereof, give notice to NCUA of any of the following: i. a breach of any of the covenants in the Loan Agreement; ii. an Event of Default or a Default; iii. a default under any other agreement for borrowed money; or iv. casualty to any collateral or any other force majeure, or any litigation, investigation or other proceeding against or involving Borrower.

Reporting and Recordkeeping. a. Borrower will provide a report to NCUA at the time of, and together with, each periodic payment due under the Promissory Note, addressing the following topics: i. the use of Loan proceeds, including how successful Borrower has been in implementing any new programs and initiatives; ii. the impact such programs have had on the membership and the community served by Borrower▇▇▇▇▇▇▇▇, including how such impact is measured; and iii. any obstacles encountered that affect Borrower▇▇▇▇▇▇▇▇’s ability to accomplish the objectives identified in its Loan application, and what plans Borrower has to overcome the obstacles. b. Upon NCUA’s request, Borrower ▇▇▇▇▇▇▇▇ will promptly deliver to NCUA such other information about the business, operations, revenues, financial condition, property, or business prospects of Borrower as NCUA may, from time to time, reasonably request to permit NCUA to maintain or perfect its security interest in any collateral and to fully effectuate the purpose of this Loan Agreement. c. Borrower will, promptly upon obtaining knowledge or notice thereof, give notice to NCUA of any of the following: i. a breach of any of the covenants in the Loan Agreement; ii. an Event of Default or a Default; iii. a default under any other agreement for borrowed money; or iv. casualty to any collateral or any other force majeure, or any litigation, investigation or other proceeding against or involving Borrower.

Reporting and Recordkeeping. a. Borrower will provide a report to NCUA at the time of, and together with, each periodic payment due under the Promissory Note, addressing the following topics: i. the use of Loan proceeds, including how successful Borrower has been in implementing any new programs and initiatives; ii. the impact such programs have had on the membership and the community served by Borrower, including how such impact is measured; and iii. any obstacles encountered that affect Borrower’s ability to accomplish the objectives identified in its Loan application, and what plans Borrower has to overcome the obstacles. b. Upon NCUAthe Fund’s request, Borrower will promptly deliver to NCUA the Fund such other information about the business, operations, revenues, financial condition, property, or business prospects of Borrower as NCUA the Fund may, from time to time, reasonably request to permit NCUA the Fund to maintain or perfect its security interest in any collateral and to fully effectuate the purpose of this Loan Agreement. c. Borrower will, promptly upon obtaining knowledge or notice thereof, give notice to NCUA the Fund of any of the following: i. a breach of any of the covenants in the Loan Agreement; ii. an Event of Default or a Default; iii. a default under any other agreement for borrowed money; or iv. casualty to any collateral or any other force majeure, or any litigation, investigation or other proceeding against or involving Borrower.