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 americash loans Clayton 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 Information. (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 as long as Bank has an interest for the or lien to the people Equity, Borrower tend to hold or reason enough to be held the associated Records inside the trust getting Lender.
Debtor should continue or reason enough to be stored in practical outline instructions and you may suggestions regarding account of its property and you will company and shall clearly echo therein the fresh vow out of Equity to help you Financial
(c) Upon reasonable progress observe away from Bank, Debtor shall (x) make any and all sorts of like Ideas offered to Bank to examine these Facts, often by its very own officials or group, otherwise from the representatives or designers, or each other, while making copies of all of the otherwise any section thereof, and (y) enable Lender otherwise its registered agents to talk about the latest issues, profit and you can account of Borrower using its captain operating administrator and master monetary administrator and also to talk about the circumstances, profit and you can membership of Borrower along with its separate formal social accounting firms.
Section 6.16 Applicable Law. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lifestyle. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Debtor shall alert, or cause to be notified, all other class holding these Details of passion and you may liens and only Lender granted hereby
Section 6.18 Leader Office; Legislation from 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.