Industrial Revenue Bonds Texas Economic Development

INDUSTRIAL REVENUE/DEVELOPMENT BOND WORKFORM

REVIEWER:

DATE OF REVIEW:

LOCATION OF REVIEW (DATAROOM, ATTORNEY OFFICES, ETC.):

DOCUMENTS COPIED? Yes No

IF NO, CONTACT PERSON FOR ARRANGING COPIES (Include Area Code and Telephone Number):

1. AMOUNT, DATE, PURPOSE OF INDEBTEDNESS:

(a) Lender(s):

(b) Description of Governmental Authority Involved and Contact Persons:

(c) Original Principal Amount: $

(d) Amount outstanding as of recent date: $

Date:

Source:

(e) Date of Original Loan Document and each Amendment or Waiver:

(f) Purpose of Credit or Use of Proceeds:

2. RATING ISSUES

(a) How Is This Debt Currently Rated (e.g., Investment Grade, Below Investment Grade, Moody's, Standard and Poor's, etc.?:

(b) Describe History of Credit Rating:

3. MATERLAL TERMS OF INDEBTEDNESS

(a) Stated Interest Rate or Methodology for Calculating:

(1) Timing and Character of Any Adjustments to the Interest Rate:

(b) Repayment Terms:

(1) Principal:

(2) Interest:

(3) Describe Any Unique Attributes of Repayment Schedule:

(c) Other Material Repayment Terms:

4. DESCRIBE PRIORITY OF INDEBTEDNESS (e.g., describe relationship to all known or assumed indebtedness whether senior, pari passu or subordinated).

Senior To:

Pari Passu With:

Subordinated To:

5. IS THE INDEBTEDNESS SECURED? Yes No

IF YES, DESCRIBE TYPE, NATURE AND EXTENT OF SECURITY:

6. DESCRIBE ALL MATERIAL RESTRICTIVE COVENANTS (attach copies of same where appropriate or desirable)

(a) Restrictions on Direct or Indirect Incurrence or Assumption of Indebtedness? Yes No

(b) Restrictions on Mergers, Acquisitions, Divestitures, Change of Control, etc.? Yes No

(c) Restrictions on Dividends and Distributions? Yes No

(d) Restrictions on Transactions with Affiliates? Yes No

(e) Restrictions on Issuance or Redemption of Capital Stock? Yes No

(f) Restrictions on Fundamental Changes in Nature of Business? Yes No

(g) Provisions Regarding Maintenance of Properties and Corporate Existence? Yes No

(h) Provisions Regarding Maintenance of Net Worth or Other Financial Measurements? Yes No

(i) Provisions Regarding Application of Proceeds of Transaction? Yes No

(j) Summarize Affirmative Covenant Obligations and Confirm Compliance:

(k) Other Material Covenants? Yes No

7. DESCRIBE PROVISIONS REGARDING OPTIONAL PREPAYMENT OR DEFEASANCE (at Debtor's Option):

8. IS THERE ANY PENALTY OR PREMIUM FOR PREPAYMENT OF DEFEASANCE? Yes No

9. DESCRIBE PROVISIONS REGARDING MANDATORY PREPAYMENT OR REDEMPTION (at Creditor's option):

10. DESCRIBE BRIEFLY ALL EVENTS OF DEFAULT AND CONSEQUENCES THEREOF (Including Acceleration):

11. DESCRIBE BRIEFLY ALL CROSS-DEFAULT PROVISIONS:

12. DESCRIBE NOTIFICATION AND REPORTING OBLIGATIONS:

13. IS PRIOR WRITTEN CONSENT OF ANY PARTY REQUIRED UNDER THE IRB DOCUMENTATION FOR THE FOLLOWING? IF NOT, IS WRITTEN NOTICE TO ANY PARTY, EITHER BEFORE OR AFTER THE EVENT, REQUIRED FOR THE FOLLOWING: CHECK (i), (ii) OR (iii) BELOW. CITE RELEVANT PROVISION. SPECIFY PARTY.

(a) The sale of the stock by the owner of such stock to an unrelated third party:

(b) The transfer of the stock by the owner of such stock to a wholly owned subsidiary of such owner:

(c) The transfer of the stock of an issuer (or transfer of assets or change of control) to a wholly owned subsidiary of such owner and the sale of the stock of such subsidiary by the owner of such stock to an unrelated third party:

(d) The merger of an obligor into another corporation with the other corporation being the surviving entity:

(e) The merger of another corporation into the obligor with the obligor being the surviving entity:

(f) The assignment of the lease or other bond-related agreements, rights or obligations by the tenant to a third party:

(g) The mortgaging or pledge of the Lease by the obligor to a lender: