Common use of Independent Reporting Requirements Clause in Contracts

Independent Reporting Requirements. Each Honda and Acura dealership that the Ownership Entity owns or acquires shall have the same reporting requirements as all other Honda and Acura dealerships and fully audited dealership-specific financial information. Each individual dealership must at all times meet the capitalization requirements and other requirements set forth in its individual Dealer Agreement including any addenda thereto. The corporate bylaws of the individual corporation that actually owns the Honda or Acura dealership must restrict it from engaging in any activity other than the ownership and maintenance of a Honda or Acura dealership, as the case may be.

Independent Reporting Requirements. Each Honda and Acura dealership ---------------------------------- that the Ownership Entity owns or acquires shall have the same reporting requirements as all other Honda and Acura dealerships and dealerships, including fully audited dealership-specific financial information. Each individual dealership must at all times meet the capitalization requirements and other requirements set forth in its individual Dealer Agreement including any addenda thereto. The corporate bylaws of the individual corporation that actually owns the Honda or Acura dealership must restrict it from engaging in any activity other than the ownership and maintenance of a Honda or Acura dealership, as the case may be.

Independent Reporting Requirements. Each Honda and Acura dealership that the Ownership Entity owns or acquires shall have the same reporting requirements as all other Honda and Acura dealerships and dealerships, including fully audited dealership-specific financial information. Each individual dealership must at all times meet the capitalization requirements and other requirements set forth in its individual Dealer Agreement including any addenda theretoAgreement. The corporate bylaws by-laws of the individual corporation that actually owns the Honda or Acura dealership must restrict it from engaging in any activity other than the ownership and maintenance of a Honda or Acura dealership, as the case may be.

Independent Reporting Requirements. Each Honda and Acura dealership that the Ownership Entity Lithia Motors owns or acquires shall have the same reporting requirements as all other Honda and Acura dealerships and dealerships, including fully audited dealership-specific financial information. Each individual dealership must at all times meet the capitalization requirements and other requirements set forth in its individual Dealer Agreement including any addenda thereto. The corporate bylaws by-laws of the individual corporation that actually owns the Honda or Acura dealership must restrict it from engaging in any activity other than the ownership and maintenance of a Honda or Acura dealership, as the case may be.