8447-93 Authorizing Economic Development Revenue (P.A.I. Properties $450,000)

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requirements, to enter upon and examine and inspect the Facilities without interference or prejudice to the Borrower's operation. Borrower further agrees that the Issuer and its duly authorized agents shall have such rights of access to the Facilities as may be reasonably necessary to cause to be completed the acquisition and installation provided for in Section 3 .20 hereof, and thereafter for the proper maintenance of the Facilities, in the event of failure by Borrower to perform its obligations under Section 3 . 10 hereof. Section 3 . 24. Tax Exempt Status of Bonds. The Borrower further covenants that it will not take, or fail to take, any action which action or failure will cause the interest on the Bonds to become subject to federal income taxes pursuant to the provisions of Section 103 of the Code so long as any of the Bonds are outstanding under the Indenture; provided, that Borrower shall not have violated this covenant if the interest on any of the Bonds becomes taxable to a person who is a substantial user of the Project or a related person pursuant to the provisions of Section 147 (a) of the Code, or taxed by virtue of the alternative minimum tax or any section of the Code other than Section 103 . Section 3 .25. Financial Covenants. The Borrower covenants and agrees that so long as any of the Bonds are outstanding it shall: (a) pay all trade accounts due in accordance with industry standards; and (b) not mortgage, sell, pledge or otherwise dispose of any of its business assets except as provided herein or in the normal course of business. Section 3 .26. Information Report. The Borrower covenants and agrees that it will cooperate with the Issuer in preparing and submitting the information report required under Section 149 (e) of the Code concerning the Series 1993 Bonds. Section 3 . 27. Regulation U. The Borrower covenants and agrees that from and after the date hereof and so long as any amount remains unpaid on account of any Bond, it will not without the prior written approval of the Trustee, apply, directly or indirectly, any part of the Net Proceeds for the purpose, whether immediate, incidental or ultimate, of purchasing or carrying any "margin security" as defined in Regulation U of the Board of Governors of the Federal Reserve System (Title 12, Part 221, Code of Federal Regulations, as amended) , or for the purpose of reducing or retiring any indebtedness which was originally incurred for any such purpose. (End of Article III) -27-