ich with the giving of notice or lapse of time, or both, would constitute an

event of default, which is continuing on the date of such statement, a statement

of the managing director of the borrower setting forth details of such event of

default or event and the action which the borrower proposes to take with respect

thereto; and

(b) the borrower shall provide the bank with such additional information,

reports or statements as the bank may from time to time reasonably request and

will permit the bank or its representatives, at any reasonable time or times, to

inspect the properties of the borrower and to inspect, audit and examine the

books or records of the borrower and to take extracts therefrom.

section 7.3. pari passu treatment

the borrower's obligations hereunder and under the notes rank and will rank at

least pari passu in priority of payment and in all other respects with all

indebtedness of the borrower, and the borrower will not secure or allow to be

secured any other indebtedness now or hereafter existing by any mortgage, lien,

pledge or other charge upon its present or any future assets or revenues (except

trust receipts made in the normal course of business) unless the benefit of such

security is at the same time extended equally and ratably to the borrower's

obligations hereunder and under the note. the borrower will insure that all

applicable laws in the appropriate jurisdictions are complied with so that the

borrower's obligations hereunder and under the note shall rank at least equally

with such other indebtedness.

section 7.4. maintenance of consents and registrations

the borrower will do and cause to be done all things necessary to, and it will

comply with all laws applicable to it and it will obtain all consents, licenses,

approvals or authorizations of or registrations with any governmental authority,

bureau agency which may at any time be required or desirable in the opinion of

the bank with respect to this agreement, any amendment of supplement

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