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 Safety 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 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) Getting provided Financial has an interest into the otherwise lien to your one Security, Borrower commonly keep otherwise cause to be stored all the associated Details in faith for Financial.
Debtor will remain or reason to be stored in practical detail guides and you may facts away from membership of its property and you can organization and you will will clearly mirror therein the fresh new promise of Security in order to Financial
(c) Abreast of practical improve find out-of Bank, Borrower should (x) make any and all of including Details open to Financial to examine any such Information, often because of the its own officers or staff, otherwise because of the agents otherwise builders, or one another, to make copies of all of the or one section thereof, and you may (y) enable Lender or its authorized agencies to go over the new things, money and you may membership from Borrower featuring its captain operating manager and chief economic officer in order to discuss the things, profit and you may accounts away from Debtor along with its separate official public accountants.
Section 6.16 Relevant 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.
Debtor shall alert, otherwise reason to be informed, all other party carrying such Records of appeal and you can liens in support of Bank offered hereby
Section 6.18 Leader Place of work; Legislation out of Company. 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 payday loans Ragland 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.