Records Covenants Sample Clauses

Records Covenants. (a) The Company shall: (i) maintain books and records and bank accounts separate from those of any other Person; (ii) maintain its assets in such a manner that it is not costly or difficult to segregate, identify or ascertain such assets; (iii) observe all customary organizational and operational formalities; (iv) hold itself out to creditors and the public as a legal entity separate and distinct from any other entity, provided, however, in connection with a Qualified IPO, the assets and operations of the Company may be referenced in public filings made by Holdings; (v) prepare separate tax returns, if necessary, and separate financial statements; (vi) allocate and charge fairly and reasonably any common employee or overhead shared with any affiliate; (vii) conduct business in its own name, and use separate stationery, invoices and checks; and (viii) not commingle its assets or funds with those of any other Person.