Other Covenants by the Rush Group Sample Clauses

Other Covenants by the Rush Group. In addition to the other obligations and agreements here, the Rush Group, individually and collectively, jointly and severally, covenants and agrees as follows: (a) The Rush Group shall maintain and furnish GMAC with reasonable proof of insurance required pursuant to the provisions above. The receipt by GMAC of any insurance proceeds shall not release the Rush Group from payment of its obligations hereunder, except to the extent of such proceeds. (b) The Rush Group shall permit representatives of GMAC to visit and inspect any of the Borrowing Base Collateral and the premises of any Dealer and examine, copy (by electronic or other means) and abstract any of the books and accounting records of the Dealer, and to discuss the affairs, business, finances and accounts of any Dealer with its officers and employees, at any reasonable time and as often as may be reasonably desired. (c) The Rush Group shall furnish GMAC by the 20th day of each month a Certification Report certified by either the chief executive officer, chief financial officer, controller, president or vice president of a Dealer of that Dealer's Collateral Formula Amount as of the last day of the previous month. GMAC may request, at any time, a parts inventory schedule for any or all dealerships; the Rush Group shall provide such schedule within 48 hours of such request. (d) The Rush Group shall arrange and have conducted, at least annually, and at the respective Dealer's expense, a complete physical inventory of the New Parts Inventory. Each such physical inventory shall be conducted by an independent professional purveyor of such services and a certified copy of the results thereof shall be promptly provided to GMAC. (e) The Rush Group shall keep its respective properties in good repair, working order and condition and, from time to time, make all needful and proper repairs, renewals, replacements, additions and improvements thereto, so that the business carried on may be properly and advantageously conducted at all times in accordance with prudent business management; provided, however, it is understood that no member of the Rush Group shall be deemed to have violated the foregoing covenant on account of ordinary wear and tear and damage due to casualty or any cause beyond such member of the Rush Group's reasonable control.