Basic Financial Information. The Company shall furnish to Purchaser and any entity that requires such information pursuant to its organizational documents when available # annual audited financial statements for each fiscal year of the Company, including an audited balance sheet as of the end of such fiscal year, an unaudited income statement, and an unaudited statement of cash flows, all prepared in accordance with generally accepted accounting principles and practices; and # quarterly unaudited financial statements for each fiscal quarter of the Company (except the last quarter of the Company’s fiscal year), including an unaudited balance sheet as of the end of such fiscal quarter, an unaudited income statement, and an unaudited statement of cash flows, all prepared in accordance with generally accepted accounting principles and practices, subject to changes resulting from normal year-end audit adjustments. If the Company has audited records of any of the foregoing, it shall provide those in lieu of the unaudited versions.

Financial and Other Information. Guarantor shall promptly deliver to the Bank copies of all annual reports, proxy statements and similar information distributed to shareholders, partners or members and of all filings with the Securities and Exchange Commission and the Pension Benefit Guaranty Corporation and shall provide in form satisfactory to the Bank: # within sixty days after the end of each of its first three fiscal quarters, consolidating and consolidated statements of income and cash flows for the quarter, for the corresponding quarter in the previous fiscal year and for the period from the end of the previous fiscal year, with a consolidating and consolidated balance sheet as of the quarter end; and # within one hundred twenty after the end of each fiscal year, consolidating and consolidated statements of Guarantor’s income and cash flows and its consolidating and consolidated balance sheet as of the end of such fiscal year, setting forth comparative figures for the preceding fiscal year and to be:

Financial and Other Information. Keep adequate records and books of account with respect to its business activities, in which proper entries are made in accordance with GAAP reflecting all financial transactions; and furnish to Agent, except with respect to such information that is available to the public by disclosures required by the SEC:

Release of Financial Information. A copy of the Company’s annual report to shareholders shall be delivered to each Optionee and Grantee at the time such report is distributed to the Company’s shareholders. Upon request the Company shall furnish to each Optionee and Grantee a copy of its most recent annual report and each quarterly report and current report filed under the Exchange Act, since the end of the Company’s prior fiscal year.

Hovnanian Companies, LLC. (referred to throughout this Agreement as "Employer" or "Hovnanian"), and ​ (referred to throughout this Agreement as "Employee"), agree that:

Each Borrower and Guarantor shall, and shall cause any Subsidiary to, keep proper books and records of all financial transactions and matters involving the assets and the business of such Borrower, Guarantor and its Subsidiaries in accordance with GAAP. Borrowers and Guarantors shall furnish to Administrative Agent and Lenders within a reasonable time all such financial and other information as Administrative Agent shall reasonably request relating to the Collateral and the assets, business and operations of Borrowers and Guarantors, and Borrower shall notify the auditors and accountants of Borrowers and Guarantors that Administrative Agent is authorized to obtain such information directly from them; provided, that, so long as no Default or Event of Default shall exist or have occurred and be continuing, Administrative Agent shall not exercise its right under this [Section 9.6] to contact the accountants and auditors directly to obtain information from them not relating to the Collateral without the prior approval of Lead Borrower, which approval shall not be unreasonably withheld, conditioned or delayed. Without limiting the foregoing, Borrowers and Guarantors shall furnish or cause to be furnished to Administrative Agent, the following:

Financial Statements and Other Information. Promptly deliver to the ​ # within sixty (60) days after the end of each of its first three fiscal quarters, an internally prepared financial statement of the [[Organization A:Organization]] and each subsidiary as of the end of such quarter, which financial statement shall consist of income and cash flows for the quarter, for the corresponding quarter in the previous fiscal year and for the period from the end of the previous fiscal year, with a consolidating and consolidated balance sheet as of the fiscal quarter end all in such detail as the ​ may request; # within one hundred twenty (120) days after the end of each fiscal year, internally prepared consolidating and consolidated statements of the [[Organization A:Organization]]’s and each Subsidiary’s income and cash flows and its consolidating and consolidated balance sheet as of the end of such fiscal year, setting forth comparative figures for the preceding fiscal year; all such statements shall be certified by the [[Organization A:Organization]]’s chief financial officer to be correct and in accordance with the [[Organization A:Organization]]’s and each Subsidiary’s records and to present fairly the results of the [[Organization A:Organization]]’s and each Subsidiary’s operations and cash flows and its financial position at year end; and # with each of the financial statements set forth above in clauses (i) and (ii) statement of income, a certificate executed by the [[Organization A:Organization]]’s chief executive or chief financial officers or other such person responsible for the financial management of the [[Organization A:Organization]] # setting forth the computations required to establish the [[Organization A:Organization]]’s compliance with each financial covenant, if any, during the statement period, # stating that the signer of the certificate has reviewed this Agreement and the operations and condition (financial or other) of the [[Organization A:Organization]] and each of its Subsidiaries during the relevant period and # stating that no Event of Default occurred during the period, or if an Event of Default did occur, describing its nature, the date(s) of its occurrence or period of existence and what action the [[Organization A:Organization]] has taken with respect thereto; and # prior to December 31 of each year, [[Organization A:Organization]]’s operating and capital budgets for the succeeding year. The [[Organization A:Organization]] shall also promptly provide the ​ with copies of all annual reports, proxy statements and similar information distributed to shareholders, partners or members, and copies of all filings with the Securities and Exchange Commission and the Pension Benefit Guaranty Corporation, and shall provide, in form satisfactory to the ​, such additional information, reports or other information as the ​ may from time to time reasonably request regarding the financial and business affairs of the [[Organization A:Organization]] or any Subsidiary. If the [[Organization A:Organization]] is an individual, the [[Organization A:Organization]] shall provide annually a personal financial statement in form and detail acceptable to the ​ and such other financial information as the ​ may from time to time reasonably request. Promptly upon the request of the ​ from time to time, [[Organization A:Organization]] shall supply all additional information requested and permit the ​’s

Financial Statements and Other Information. The Company shall deliver to each Investor, or any authorized representative thereof, so long as # such Investor shall own an aggregate of at least ten percent (10%) of the Shares (including shares of the Common Stock into which such Shares shall have been converted) originally purchased by such Investor, and # at least an aggregate of twenty percent (20%) of the Shares (including shares of the Common Stock into which such Shares shall have been converted) are outstanding at such time:

Service with Related Companies. For purposes of determining whether a separation from service has occurred under the above provisions, “Commerce” shall include Commerce and all Related Companies.

Service with Related Companies. For purposes of determining whether a Separation from Service has occurred under the above provisions, the “Company” shall include the Company and all Related Companies. “Related Company” means: # any corporation that is a member of a controlled group of corporations (as defined in Code Section 414(b) that includes the Company); and # any trade or business (whether or not incorporated) that is under common control (as defined in Code Section 414(c) with the Company. For purposes of applying Code Sections 414(b) and (c), 50% is substituted for the 80% ownership level