Nautilus 2009 Annual Report Download - page 310

detail the Borrowing Base (and the computation thereof) as of the end of the immediately preceding month, which shall be reconciled to the
corresponding month-end balance sheets of Borrower and shall be certified to be true and correct in all material respects by an Authorized
Officer (the “Borrowing Base Certificate”);
(c) On or before March 25, 2010, and the 25 day of each month thereafter, a written report with respect to the Commercial
Accounts Receivable as of the end of the immediately preceding month, which reports shall include reasonable detail regarding the aging of such
Commercial Accounts Receivable, and otherwise shall be in a form satisfactory to Lender in Lender’s reasonable discretion;
(d) On or before March 25, 2010, and on the 25 day of each month thereafter, a written report with respect to the Consumer
Finance Accounts Receivable as of the end of the immediately preceding month, which reports shall include reasonable detail regarding the
aging of such Consumer Finance Accounts Receivable, and otherwise shall be in a form satisfactory to Lender in Lender’
s reasonable discretion;
(e) On or before March 25, 2010, and the 25 day of each month thereafter, a written summary of aging of Borrower’s
accounts payable as of the end of the immediately preceding month, which reports shall include reasonable detail regarding the aging of such
accounts payable, and otherwise shall be in a form satisfactory to Lender in Lender’s reasonable discretion;
(f) On or before March 25, 2010, and on the 25 day of each month thereafter, a written report with respect to Borrower’s
Inventory as of the end of the immediately preceding month, which report shall include reasonable detail regarding the aging of the Inventory,
and otherwise shall be in a form satisfactory to Lender in Lender’s reasonable discretion;
(g) On or before May 15, 2010, and within 45 days after the end of each calendar quarter thereafter, a written report in the
form attached as Exhibit B hereto identifying Borrower’s performance with respect to the financial covenants set forth in Section 8.1,
Section 8.2, Section 8.3 and Section 8.4 of this Agreement as of the end of the calendar quarter in question, which reports shall be in a form
satisfactory to Lender in Lender’s reasonable discretion, shall include reasonable detail regarding the manner in which the financial covenants
were calculated, and shall be accompanied by a certificate of an Authorized Officer that (i) the calculation of each of the financial covenants is
true and correct in all material respects, and (ii) as of the end of such quarter, no Default or Event of Default had occurred and was continuing
(or, if a Default or an Event of Default existed at such time, identifying the Default or the Event of Default) (the “Quarterly Compliance
Certificate”);
(h) Within 120 days of each fiscal year end of Borrower, a copy of an audited statement (on a consolidated and consolidating
basis) of Borrower’s financial condition as of the end of the preceding fiscal year prepared by a certified public accounting firm acceptable to
Lender in Lender’s reasonable discretion (it being agreed that the furnishing of Borrower’s annual report on form 10-K for such fiscal year as
filed with the SEC will satisfy such requirement);
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