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 Cover Focus. 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 as long as Lender is interested from inside the otherwise lien towards people Equity, Borrower tend to keep or reason to be stored all relevant Records within the believe getting Lender.
Debtor should remain otherwise reason enough to be stored in reasonable outline courses and you may suggestions off membership of their possessions and you will organization and will clearly reflect therein this new guarantee away from Equity to Financial
(c) Abreast of reasonable advance find regarding Lender, Borrower shall (x) make and all sorts of eg Suggestions open to Bank to look at such Facts, either from the its very own officials otherwise personnel, or because of the agencies otherwise contractors, otherwise each other, and then make duplicates of all or any piece thereof, and you can (y) enable Bank or the signed up agencies to talk about the fresh new circumstances, cash and you can account out of Borrower with its master operating officer and you may captain economic manager and also to discuss the affairs, funds and you will account out-of Borrower along with its separate specialized societal accounting firms.
Section 6.16 Appropriate Legislation. Borrower shall comply with the requirements of all https://paydayloanalabama.com/centre/ 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 notify, otherwise cause to be notified, all other people holding any such Info of the interests and you may liens and only Bank supplied hereby
Section 6.18 Chief executive Work environment; Jurisdiction out of 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 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.