Reporting and Requirements Clause Samples

Reporting and Requirements. Promptly after request by Inventor, Company shall cause to be delivered to Inventor, in form and detail reasonably satisfactory to Inventor: (i) any litigation seeking damages in excess of $100,000, or multiple lawsuits seeking total damages from Company of $200,000 or more, or making a claim to title or the right to possess the Patents, Devices or any material part of the assets of Company; (ii) any dispute between Company and any Governmental Authority or Person relating to the Patents or any material part of the assets of Company; (iii) any Event of Default by Company or event which, with the giving of notice and/or the passage of time, could become and Event of Default; (iv) the Books and Records; and (v) such other information relating to Company as Inventor may request from time to time.

Reporting and Requirements. For so long as BCBSM owns all of the shares acquired by it under this Agreement, Company will furnish the following to BCBSM:

Reporting and Requirements. Borrower shall cause to be delivered to -------------------------- Lender, in form and detail satisfactory to Lender: (a) promptly upon Borrower's learning thereof, notice of: (i) any litigation affecting or relating to Borrower, the Property or the Project; (ii) any dispute between Borrower and any Governmental Agency relating to the Property or the Project, the adverse determination of which would adversely affect the Property or the Project; (iii) any threat or commencement of proceedings in condemnation or eminent domain relating to the Property; (iv) any Event of Default or event which, with the giving of notice and/or the passage of time, could become an Event of Default; and (v) any change in the executive management personnel of Borrowers. (b) as soon as available, and in any event within thirty (30) calendar days after the end of each month during the term of the Loan, a subdivision status report for the Project for the month most recently ended (which status report shall contain an itemized breakdown of the progress of construction, sales of Lots, the gross revenues and all costs and expenses with respect to the Project for such month), in reasonable detail and prepared in accordance with generally accepted accounting principles applied on a consistent basis, and certified as accurate by an officer of Borrower; (c) as soon issued to the public, annual financial statements applicable to Borrower, in reasonable detail and prepared in accordance with generally accepted accounting principles applied on a consistent basis; (d) promptly upon receipt thereof, any audited financial information applicable to Borrower; and (e) such other information relating to Borrower, the Property and/or the Project as Lender may request from time to time.

Reporting and Requirements. Borrower shall cause to be delivered to Lender, in form and detail satisfactory to Lender: (a) promptly upon Borrower's learning thereof, notice of: (i) any litigation affecting or relating to the Receivables; (ii) any dispute between Borrower and any Governmental Agency relating to the Receivables, the adverse determination of which would adversely affect the Receivables; (iii) any Event of Default or event which, with the giving of notice and/or the passage of time, could become an Event of Default; and (iv) any change in the executive management personnel of Borrower. (b) promptly upon receipt thereof, any audited financial information applicable to Borrower; (c) such other information relating to Borrower, and/or the Receivables as Lender may reasonably request from time to time, including without limitation (i) tax returns, to be provided concurrently with the filing thereof with the relevant government authority or (ii) if Borrower receives an extension from the relevant government authority for filing a tax return, satisfactory evidence of such extension.

Reporting and Requirements. Promptly after request by Sellers’ Representative, Buyer shall cause to be delivered to Sellers’ Representative, in form and detail reasonably satisfactory to Sellers’ Representative: (i) any litigation seeking damages in excess of $100,000, or multiple lawsuits seeking total damages from Buyer of $200,000 or more, or making a claim to title or the right to possess the Technology or any material part of the assets of Buyer; (ii) any dispute between Buyer and any Governmental Entity or Person relating to the Technology or any material part of the assets of Buyer; (iii) any Event of Default by Buyer or event which, with the giving of notice and/or the passage of time, could become and Event of Default; (iv) the Books and Records; and (v) such other information relating to Buyer as Sellers’ Representative may request from time to time.