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 Defense Interest. 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 https://paydayloanalabama.com/beaverton/ the Collateral to comply with all applicable rules, regulations and other laws.
Section 6.10 Suggestions. (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 Records in good and complete condition in accordance with industry practices for assets similar to the Collateral and preserve them against loss.
(b) Getting for as long as Lender is interested during the or lien to your people Guarantee, Debtor will hold otherwise cause to be kept every relevant Ideas in the faith to have Lender.
Debtor should keep or reason to be kept in reasonable detail instructions and you will ideas out-of membership of the assets and you can business and you may should certainly mirror therein the newest hope out of Collateral so you can Financial
(c) Up on realistic advance see of Financial, Debtor shall (x) make and all sorts of such Information offered to Lender to examine any such Facts, either of the its officers otherwise personnel, or because of the representatives otherwise contractors, otherwise one another, and make copies of all the otherwise any piece thereof, and you may (y) permit Bank or the subscribed agencies to talk about the brand new products, cash and you can profile out-of Debtor along with its captain functioning manager and you will head economic officer also to discuss the activities, profit and you can accounts out-of Debtor featuring its separate official public accountants.
Section 6.16 Appropriate Rules. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lifestyle. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower shall notify, or reason enough to be informed, all other group holding these Information of your passions and you will liens in favor of Lender offered hereby
Section 6.18 Chief executive Place of work; Jurisdiction regarding Business. 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 Taxes. 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.
