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 Protection Desire Jemison loans. 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 Details. (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) For provided Bank has an interest during the or lien for the people Security, Borrower have a tendency to hold otherwise reason to be stored every associated Info when you look at the trust for Bank.
Borrower will keep otherwise reason enough to be kept in reasonable detail books and information away from membership of their property and you will business and you will shall certainly reflect therein new vow of Guarantee to help you Bank
(c) Abreast of reasonable improve notice out of Bank, Borrower will (x) make and all of particularly Details open to Bank to look at these Records, both because of the its own officials otherwise group, otherwise by agents otherwise builders, or both, and come up with copies of all the otherwise one portion thereof, and (y) enable Financial or its signed up representatives to talk about new activities, finances and you will accounts out of Debtor along with its master operating administrator and master economic manager in order to discuss the things, cash and you may membership from Borrower along with its separate official public accountants.
Section 6.16 Relevant Law. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lives. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Debtor should alert, or reason enough to be notified, some other class carrying any such Suggestions of your passion and you may liens in support of Bank provided hereby
Section 6.18 Chief executive Workplace; Legislation out of 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.
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