Additional Financial Matters. 21. The Landowners’ Association documents referred to in the OSMUD Article shall include a restriction for the benefit of the Town that no property within the Site, other than Restricted Land approved by the Planning Board, shall be conveyed to a tax-exempt entity unless: (i) such entity agrees that the property will be subject to taxation under M.G.L. c.59, without any claim of exemption on the basis of the entity’s tax-exempt status; or (ii) such entity enters into an agreement for Payment in Lieu of Taxes (“PILOT Agreement”) that provides for payments in lieu of taxes and /or other benefits to the Town not less than the amount that would otherwise be due to the Town in property taxes and personal property excise taxes under M.G.L. c.59 for as long as the entity continues to be exempt from such property or excise taxation. The restrictions set forth in this paragraph shall apply to any lease by an owner of property within the Site to a tax-exempt entity if the legal effect of such lease would otherwise be to exempt the owner or lessee of the leased property from the payment of real estate taxes.
Additional Financial Matters. The Parent shall have delivered to the Administrative Agent the Borrowers' consolidated financial statements for the period ending February 28, 1998, together with such pros formas and projections as the Administrative Agent may reasonably request.
Additional Financial Matters. 84 5.1.8 Solvency Certificate. 84 5.1.9
Additional Financial Matters. (a) Each Target Company maintains books and records reflecting its assets and Liabilities and maintains proper internal accounting controls that are in accordance with applicable Law. All of the financial books and records of the Target Companies are complete and accurate in all material respects and have been maintained in the ordinary course of business and in accordance with applicable Laws. The Company has not and, to the Knowledge of the Company, no Target Company has, been subject to or involved in any material fraud that involves management or other employees who have a significant role in the internal controls over financial reporting of the Company or any Target Company, respectively. Since its formation, no Target Company or its Representatives has received any material written complaint, allegation, assertion or claim regarding the accounting or auditing practices, procedures, methodologies or methods of any Target Company or its internal accounting controls.
Additional Financial Matters. 21. The Landowners’ Association documents referred to in the OSMUD Article shall include a restriction for the benefit of the Town that no property within the Site, other than Restricted Land approved by the Planning Board, shall be conveyed to a tax-exempt entity unless: (i) such entity agrees that the property will be subject to taxation under M.G.L. c.59, without any claim of exemption on the basis of the entity’s tax-exempt status; or (ii) such entity enters into an agreement for Payment in Lieu of Taxes (“PILOT Agreement”) that provides for payments in lieu of taxes and /or other benefits to the Town not less than the amount that would otherwise be due to the Town in property taxes and personal property excise taxes under M.G.L.
Additional Financial Matters
