ARTICLE 2.
GENERAL OBLIGATIONS OF DEVELOPER
a. Financial Requirements.
(1) DEVELOPER shall submit to FRANCHISOR financial information and data about the DEVELOPER as requested.
DEVELOPER warrants that, throughout the term of this Agreement, each Outlet developed, established and/or operated under this Agreement shall be funded to the extent of at least thirty-three percent (33%) by DEVELOPER’s own funds, shall maintain a debt to equity ratio of 3 to 1, and under no circumstance shall have external borrowings for the establishment, development and/or operation of the Outlet exceeding forty five percent (45%) of the book value of the assets thereof.