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 Defense 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 Info. (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 own so long as Bank has an interest inside otherwise lien towards the people Equity, Debtor commonly keep otherwise cause to be kept every associated Records inside believe to possess Financial.
Borrower will remain or cause to be stored in sensible outline courses and you will information regarding membership of its property and you may business and you can shall clearly reflect therein the brand new pledge away from Guarantee so you’re able to Lender
(c) Abreast of sensible get better notice out-of Financial, Debtor will (x) make and all of such Details open to Financial to examine these Details, possibly of the its very own officials or professionals, or by the representatives or contractors, otherwise both, while making duplicates of all of the otherwise people portion thereof, and (y) allow Bank or their subscribed agents to discuss the newest circumstances, finances and you may levels of Debtor with its head performing officer and captain monetary officer and to talk about the items, finances and account of Debtor featuring its independent certified personal accounting firms.
Section 6.16 Applicable Laws. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower will notify, or reason to be notified, another class carrying any such Details of your passions and you can liens and only Lender payday loans Horn Hill offered hereby
Section 6.18 Chief executive Workplace; 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.