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 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) Having provided Lender has an interest for the otherwise lien towards any Equity, Debtor will keep or reason enough to be stored the associated Information within the faith to possess Financial.
Debtor should keep otherwise reason enough to be stored in practical detail instructions and records regarding membership of the property and you can providers and will obviously mirror therein new guarantee out of Security in order to Bank
(c) On realistic get better notice from Lender, Borrower will (x) make and all of eg Ideas available to Financial to look at any such Information, possibly by its very https://paydayloanalabama.com/brookside/ own officials otherwise personnel, or because of the representatives or designers, or one another, making copies of all of the or one part thereof, and you will (y) enable Lender or the authorized agents to discuss the points, funds and you will accounts of Borrower featuring its head performing manager and you may head monetary officer and also to discuss the facts, funds and profile off Borrower along with its separate formal personal accountants.
Section 6.16 Appropriate Legislation. 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.
Borrower should alert, or reason to be informed, any kind of party holding any such Details of your own welfare and you may liens in support of Lender granted hereby
Section 6.18 Chief executive Workplace; Jurisdiction away from 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 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.