Changes to Reporting Requirements. Delivery to Bank of transaction reports, schedules and assignments of Accounts, and schedules of collections, as called for by Section 6.3(a) hereof, will not be required, but rather shall be provided as set forth in subclause (ii)(A) above.
Changes to Reporting Requirements. (a) Daily delivery to Silicon of transaction reports, schedules and assignments of Receivables, and schedules of collections, and delivery to Silicon of copies of credit memos within two days after the date issued, as called for by Section 4.3 of the Loan Agreement, will not be required.
(b) The first sentence of Section 4.6, which requires that Borrower promptly notify Silicon of all disputes or claims relating to Receivables, is replaced by the following: "Borrower shall promptly notify Silicon of all returns and recoveries and of all disputes and claims, where the return, recovery, dispute or claim involves more than $50,000".
(c) The following reporting requirements shall supersede and replace those reporting requirements set forth in Section 6 of the Schedule to the Loan Agreement. Borrower shall provide Silicon with the following, in such form as Silicon shall specify:
(i) Monthly Receivable agings, aged by invoice date, within twenty days after the end of each month if at the end of such month the outstanding Obligations exceed $3,000,000.
(ii) Monthly accounts payable agings, aged by invoice date, and outstanding or held check registers, if any, within twenty days after the end of each month if at the end of such month the outstanding Obligations exceed $3,000,000.
(iii) Quarterly Compliance Certificates, within fifty days after the end of each fiscal quarter, in such form as Silicon shall reasonably specify, signed by the Chief Financial Officer of Borrower, certifying that as of the end of such fiscal quarter Borrower was in full compliance with all of the terms and conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this Agreement and such other information as Silicon shall reasonably request, including, without limitation, a statement that at the end of such fiscal quarter there were no held checks.
(iv) Copies of all reports on Form 10-Q filed with the Securities and Exchange Commission, within fifty (50) days after the end of each fiscal quarter.
(v) Copies of all reports on Form 10-K filed with the Securities and Exchange Commission, within ninety-five (95) days after the end of each fiscal year.
Changes to Reporting Requirements. Daily delivery to Silicon of transaction reports, schedules and assignments of Receivables, and schedules of collections, as called for by Section 4.3 of the Loan Agreement and Exim Loan Agreement, will not be required, but rather shall be provided as set forth in Paragraph 1 above.
Changes to Reporting Requirements. BCTC may change the type, frequency, content or form of any data or reports to be provided pursuant to Section 10.1, on an exception basis or otherwise, at any time during the Term by written notice to BC Hydro, provided that:
(a) before being required to provide any such modified data or report, BC Hydro will have an opportunity to advise BCTC with respect to the Consequences of providing such modified data or report, and to suggest further or other changes to the type, frequency, content or form of such modified data or report to alleviate or minimize all or any of such Consequences;
(b) BCTC, if it decides to proceed with the request for such modified data or report, will accept and be responsible for all of the Consequences, whether identified by BC Hydro pursuant to paragraph (a) above or otherwise incurred, and will pay to BC Hydro of any costs, resulting from the modification of such data or report; and
(c) in the event of any dispute between the Parties as to whether any additional costs resulting from the modification of such data or report should be reimbursable by BCTC to BC Hydro as additional time spent by BC Hydro employees or additional costs incurred directly by BC Hydro, either Party may submit the matter for dispute resolution pursuant to Article 17.
Changes to Reporting Requirements. (a) Daily delivery to Silicon of transaction reports, schedules and assignments of Receivables, and schedules of collections, and delivery to Silicon of copies of credit memos in excess of $100,000 within five days after the date issued, as called for by Section 4.3 of the Loan Agreement, will not be required.
(b) The first sentence of Section 4.6, which requires that Borrower promptly notify Silicon of all disputes or claims relating to Receivables in excess of $100,000, is replaced by the following: "Borrower shall promptly notify Silicon of all returns and recoveries and of all disputes and claims, where the return, recovery, dispute or claim involves more than $200,000".
