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 Shelter Attention. 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 Records. (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 so long as Bank has an interest in the otherwise lien into any Collateral, Debtor usually hold otherwise cause to be kept all related Suggestions in faith for Lender.
Debtor should continue or reason to be stored in practical outline books and you will facts away from account of its assets and loans Falkville you will company and will clearly echo therein this new pledge out of Guarantee so you’re able to Lender
(c) Upon reasonable get better observe regarding Lender, Borrower shall (x) make and all sorts of eg Ideas offered to Lender to examine such Information, both from the its very own officers or professionals, otherwise by representatives otherwise designers, or both, to make duplicates of all the otherwise any section thereof, and you can (y) enable Financial otherwise their registered representatives to talk about the brand new issues, cash and account out of Debtor featuring its chief performing manager and you will chief financial officer in order to talk about the points, cash and you may account away from Borrower along with its independent formal societal accountants.
Section 6.16 Appropriate Laws. 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 cause to be informed, any kind of class holding these Ideas of the hobbies and you will liens and only Bank granted hereby
Section 6.18 Leader Work environment; Jurisdiction away from 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.
