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 Notice. 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. americash loans Brighton 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) To own provided Bank is interested for the or lien for the any Guarantee, Debtor often hold otherwise cause to be held all of the related Facts when you look at the trust getting Financial.
Debtor should keep or reason enough to be stored in practical outline instructions and you will suggestions out of membership of its property and company and you may will certainly reflect therein the promise away from Security so you’re able to Lender
(c) On reasonable get better notice regarding Lender, Debtor should (x) make any as well as particularly Facts accessible to Bank to look at any such Suggestions, sometimes of the its own officials otherwise staff, or because of the representatives or designers, otherwise one another, and come up with duplicates of the many otherwise people bit thereof, and you will (y) permit Bank otherwise their signed up representatives to discuss this new issues, profit and you will profile off Borrower featuring its head functioning officer and you may captain monetary officer in order to discuss the activities, cash and levels out-of Borrower along with its independent official personal accounting firms.
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 Lifetime. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower should alert, otherwise reason to be notified, any other party carrying any such Information of hobbies and liens in favor of Bank supplied hereby
Section 6.18 Chief executive Office; Legislation regarding 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.