Supercuts 2008 Annual Report Download - page 228

(iv) the adoption of any amendment to a Plan subject to Section 412 of the Code, if such amendment results in a material increase in
contributions or Unfunded Pension Liability;
(d) of any material change in accounting policies or financial reporting practices by the Company or any of its consolidated Subsidiaries;
(e) upon, but in no event later than 15 days after, any officer of the Company or any Subsidiary becoming aware of (i) any and all
enforcement, investigation, cleanup, removal or other governmental or regulatory actions instituted, completed or threatened against the
Company or any Subsidiary or any of their respective properties pursuant to any applicable Environmental Laws which could reasonably be
expected to have a Material Adverse Effect, (ii) all other material Environmental Claims, and (iii) any environmental or similar condition on any
real property adjoining or in the vicinity of the property of the Company or any Subsidiary that could reasonably be anticipated to cause such
property of the Company or such Subsidiary or any part thereof to be subject to any material restrictions on the ownership, occupancy,
transferability or use of such property under any Environmental Laws; and
(f) upon the reasonable request from time to time of the Administrative Agent, the Swap Termination Values, together with a description
of the method by which such values were determined, relating to any then-outstanding Swap Contract to which the Company or any of its
Subsidiaries is party.
Each notice under this Section shall be accompanied by a written statement by a Responsible Officer setting forth details of the occurrence
referred to therein, and stating what action the Company or any affected Subsidiary proposes to take with respect thereto and at what time. Each
notice under subsection 7.03(a)
shall describe with particularity any and all clauses or provisions of this Agreement or other Loan Document that
have been (or foreseeably will be) breached or violated.
7.04 Preservation of Existence, Etc. The Company shall, and shall cause each Subsidiary to:
(a) preserve and maintain in full force and effect its existence and good standing under the laws of its state or jurisdiction of formation;
(b) preserve and maintain in full force and effect all governmental rights, privileges, qualifications, permits, licenses and franchises
necessary or desirable in the normal conduct of its business except in connection with transactions permitted by Section 8.03 and sales of assets
permitted by Section 8.02 ;
(c) use reasonable efforts, in the ordinary course of business, to preserve its business organization and goodwill; and
(d) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could
reasonably be expected to have a Material Adverse Effect.
7.05 Maintenance of Property. The Company shall maintain and preserve, and shall cause each Subsidiary to maintain and preserve,
all its property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted, and make all
necessary repairs thereto and renewals and replacements thereof.
7.06 Insurance. The Company shall maintain, and shall cause each Subsidiary to maintain, with financially sound and reputable
independent insurers, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by
Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by
such other Persons, including workers' compensation insurance, public liability insurance and property and casualty insurance.
7.07 Payment of Obligations . The Company shall, and shall cause each Subsidiary to, pay and discharge as the same shall become due
and payable, all their respective obligations and liabilities, including:
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