Section 6.08 Project. 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 Desire. 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 Information. (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) Having provided Lender is interested in the or lien to the one Guarantee, Debtor tend to hold or reason to be stored all the related Suggestions in trust to own Financial.
Debtor should continue otherwise reason enough to be stored in sensible outline courses and you can information away from account of their assets and you may team and will certainly reflect therein the brand new promise out of Equity so you’re able to Bank
(c) Through to reasonable advance find from Lender, Debtor will (x) make any as well as like Facts accessible to Bank to look at these Suggestions, sometimes of the its own officials otherwise personnel, or by agencies or designers, or both, to make duplicates of the many otherwise one piece thereof, and you can (y) allow Financial otherwise its subscribed representatives to talk about the brand new facts, funds and you can accounts from Borrower having its chief performing administrator and captain economic administrator and payday loans Marion discuss the circumstances, money and you may membership regarding Borrower with its independent certified personal accounting firms.
Section 6.16 Appropriate Laws. 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 should notify, or reason to be notified, virtually any class carrying these Records of your own hobbies and you may liens in favor of Bank supplied hereby
Section 6.18 Chief executive Workplace; Jurisdiction from Team. 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.
