Common use of AUTHORIZED STATES Clause in Contracts

AUTHORIZED STATES. The Borrower shall restrict its business, and shall cause each Subsidiary to restrict its business, except as provided below, only to the Authorized States. If the Borrower wishes to obtain the consent of the Majority Banks for any proposed deviation from the above, the Borrower shall furnish the Administrative Agent, and the Administrative Agent shall forward to the Banks: (i) a copy of the proposed plan of expansion beyond the Authorized States, (ii) a pro forma budget and cash flow projection for the proposed expansion, (iii) supporting market studies and projections as deemed necessary by the Majority Banks, and (iv) supporting appraisals and/or market evaluations, if required by the Majority Banks. The Administrative Agent shall advise the Borrower of the decision by the Majority Banks within thirty (30) days after the receipt by the Administrative Agent of all of the required items described above.

AUTHORIZED STATES. The Borrower Borrowers shall restrict its businesstheir businesses, and shall cause each Subsidiary to restrict its business, except as provided below, only to the Authorized States. If the Borrower wishes Borrowers wish to obtain the consent of the Majority Banks for any proposed deviation from the above, the Borrower Borrowers, through the Company, shall furnish the Administrative Agent, and the Administrative Agent shall forward to the Banks: (i) a copy of the proposed plan of expansion beyond the Authorized States, (ii) a pro forma budget and cash flow projection for the proposed expansion, (iii) supporting market studies and projections as deemed necessary by the Majority Banks, and (iv) supporting appraisals and/or market evaluations, if required by the Majority Banks. The Administrative Agent shall advise the Borrower Borrowers of the decision by the Majority Banks within thirty (30) days after the receipt by the Administrative Agent of all of the required items described above.