Section 6.08 Task. Except as permitted herein, Borrower shall not sell, assign, transfer or otherwise dispose of, or grant any option with respect to, or pledge, hypothecate or grant a security interest in or lien on or otherwise encumber (except pursuant to the Loan Documents), any of the Collateral or any interest therein, provided that this Section 6.08 shall not prevent any transfer of Collateral in accordance with the Loan Documents.
Section 6.09 Security Attract. Borrower shall do all things necessary to preserve the Collateral so that they remain subject to a perfected security interest hereunder. Without limiting the foregoing, Borrower will comply with all rules, regulations and other laws of any Governmental Authority and cause the Collateral to comply with all applicable rules, regulations and other laws.
Section 6.10 Facts. (a) Borrower shall collect and maintain or cause to be collected and maintained all Records relating to the Collateral in accordance with industry custom and practice for assets similar to the Collateral, including those maintained pursuant to Section 6.11, and all such Records shall be in Borrower’s possession unless Lender otherwise approves. Borrower will not allow any such papers, records or files that are an original or an only copy to leave Borrower’s possession. Borrower will maintain all such https://paydayloanalabama.com/argo/ Records in good and complete condition in accordance with industry practices for assets similar to the Collateral and preserve them against loss.
(b) To own as long as Lender is interested into the or lien with the one Collateral, Debtor commonly keep otherwise cause to be kept the related Info for the trust having Lender.
Borrower will remain otherwise cause to be kept in sensible detail books and information off membership of the property and company and you will will obviously mirror therein the brand new hope out of Guarantee so you can Financial
(c) On practical improve observe regarding Financial, Debtor should (x) make any and all of such as for example Information accessible to Bank to look at any such Suggestions, either because of the its officers otherwise team, or by the agencies otherwise designers, otherwise each other, and come up with copies of all the otherwise any piece thereof, and you can (y) permit Bank otherwise its licensed agencies to go over the newest factors, earnings and account out of Borrower with its master functioning manager and you may master financial manager also to discuss the items, earnings and you can membership off Debtor along with its separate certified personal accounting firms.
Section 6.16 Appropriate Legislation. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Life. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower will notify, otherwise reason enough to be notified, virtually any people holding these Records of passions and you may liens and only Financial granted hereby
Section 6.18 Leader Place of work; Legislation out of Providers. Borrower shall not move its chief executive office from the address referred to in Section 3.17 or change its jurisdiction of organization from the jurisdiction referred to in Section 3.17 unless it shall have provided Lender 30 days’ prior written notice of such change.
Section 6.19 Fees. Borrower shall timely file all tax returns that are required to be filed by them and shall timely pay and discharge all taxes, assessments and governmental charges or levies imposed on it or on its income or profits or on any of its property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge or levy the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained.