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 Coverage Appeal. 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) To have so long as Financial has an interest when you look at the or lien for the people Security, Debtor tend to keep otherwise reason enough to be stored all of the relevant Ideas inside believe for Lender.
Borrower will remain or reason enough to be stored in realistic detail courses and you will suggestions regarding account of the assets and you can providers and you will will demonstrably reflect therein the latest guarantee regarding Security to Bank
(c) Up on realistic improve see regarding Financial, Borrower shall (x) make any and all like Ideas available to Financial to look at any such Ideas, possibly by its own officers otherwise professionals, otherwise by the agencies or builders, otherwise each other, and also make copies of all americash loans Homewood otherwise people bit thereof, and you will (y) permit Bank or its subscribed representatives to talk about the fresh new affairs, profit and profile of Debtor having its head working officer and you can master economic manager and also to discuss the items, funds and you can account from Borrower with its separate formal public accounting firms.
Section 6.16 Applicable Rules. 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 should notify, or reason to be informed, every other class carrying such Facts of your own passions and you will liens and only Bank granted hereby
Section 6.18 Leader Work environment; 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 Taxation. 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.
