Common use of Books of Account and Reserves Clause in Contracts

Books of Account and Reserves. The Company will keep, and will cause any of its subsidiaries to keep, books of record and account in which full, true and correct entries are made of all of its and their respective dealings, business and affairs, in accordance with generally accepted accounting principles. When so requested by the Investors, the Company will employ certified public accountants who are “independent” within the meaning of the accounting regulations of the Commission and who are approved by the Investors. At such time, the Company will have annual audits made by such independent public accountants in the course of which such accountants shall make such examinations, in accordance with generally accepted auditing standards, as will enable them to give such reports or opinions with respect to the financial statements of the Company and its subsidiaries as will satisfy the requirements of the Commission in effect at such time with respect to reports or opinions of accountants. At such time as independent public accountants are employed by the Company, management will request such independent public accountants to issue to the Company a management letter of recommendations in connection with each annual audit of the financial statements of the Company. In the event the services of the independent public accountants are terminated, the Company will promptly notify the Investors of such termination and will request such independent public accountants to send a letter to the Investors advising them in the detail requested by the Investors of the reasons for the termination of their services.

Books of Account and Reserves. The Company will keep, and will cause any of its subsidiaries subsidiary to keep, books of record and account in which full, true and correct entries are made of all of its and their respective dealings, business and affairs, in accordance with generally accepted accounting principles. When so requested by For the Investorsyear ending December 31, 2003, the Company will employ certified public accountants who are “independent” within the meaning of the accounting regulations of the Commission and who are approved by the InvestorsCommission. At such time, the Company will have annual audits made by such independent public accountants in the course of which such accountants shall make such examinations, in accordance with generally accepted auditing standards, as will enable them to give such reports or opinions with respect to the financial statements of the Company and its subsidiaries as will satisfy the requirements of the Commission in effect at such time with respect to reports or opinions of accountants. At such time as independent public accountants are employed by the Company, management will request such independent public accountants to issue to the Company a management letter of recommendations in connection with each annual audit of the financial statements of the Company. In the event the services of the independent public accountants are terminated, the Company will promptly notify the Investors Purchaser of such termination and will request such independent public accountants to send a letter to the Investors Purchaser advising them in the detail requested by the Investors them of the reasons for the termination of their services.