Section 6.08 Assignment. 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 Notice. 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 Records in good and complete condition in accordance with industry practices for assets similar to the Collateral and preserve them against loss.
(b) To possess so long as Financial is interested inside the or lien on any Equity, Debtor will keep otherwise reason enough to be stored every associated Facts inside trust getting Financial.
Borrower will continue or cause to be kept in sensible outline guides and facts from account of their possessions and you will business and you will should certainly echo therein the latest promise of Collateral in order to Financial
(c) Up on sensible progress find regarding Lender, Debtor shall (x) make any and all of such as for example Suggestions accessible to Lender to examine such Information, sometimes by its own officers otherwise team, or of the agents or contractors, otherwise each other, and make copies of all or any section thereof, and you may (y) permit Lender otherwise their registered agencies to talk about the fresh new facts, earnings and you can accounts out-of Borrower featuring its master operating manager and you can chief economic officer and discuss the activities, funds and you can profile off Borrower along with its separate official personal accounting firms.
Section 6.16 Applicable Law. 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 will alert, otherwise cause to be notified, all other team holding any such Info of your own interests and you may liens in support of Bank offered hereby
Section 6.18 Chief executive Work environment; Jurisdiction away from 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 $500 loan with poor credit in Flomaton 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.
