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 Safety 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 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) To own so long as Financial has an interest within the otherwise lien into the people Guarantee, Borrower will keep or reason enough to be stored most of the related Details into the believe to possess Financial.
Borrower should keep or reason to be kept in sensible outline instructions and you can information of account of its property and you may team and you may will certainly reflect therein the hope of Equity so you can Financial
(c) Upon realistic get better find from Lender, Debtor will (x) make any and all of such as for example Records accessible to Financial to look at such Records, often of the its own officers or personnel, otherwise by the agents otherwise contractors, or easy cash loans Double Springs one another, while making copies of all the otherwise people portion thereof, and you will (y) allow Financial otherwise the subscribed agencies to talk about new circumstances, funds and you may profile away from Debtor featuring its chief performing manager and you will head economic officer in order to talk about the issues, money and you may account away from Debtor using its separate official societal accountants.
Section 6.16 Appropriate Law. 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.
Debtor shall alert, otherwise reason to be informed, any other group holding these Suggestions of the interests and you can liens in support of Bank supplied hereby
Section 6.18 Leader Workplace; Legislation regarding Organization. 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 Taxation. 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.