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 Defense Desire. 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 https://paydayloanalabama.com/priceville/ 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 provided Lender is interested inside otherwise lien for the any Equity, Debtor usually keep or reason to be kept all the associated Records during the faith getting Bank.

Borrower shall keep or reason enough to be kept in sensible detail guides and you can ideas regarding account of the possessions and providers and you will shall certainly mirror therein this new vow from Collateral so you can Lender

(c) Upon reasonable improve notice out-of Bank, Borrower shall (x) make any and all including Information offered to Financial to look at such Info, possibly because of the a unique officers or teams, otherwise by the agents or contractors, or one another, and also make duplicates of all or people bit thereof, and (y) permit Financial otherwise its subscribed agencies to talk about this new items, finances and account away from Borrower along with its chief functioning administrator and you will chief economic officer in order to talk about the things, profit and account of Borrower having its separate official public accountants.

Section 6.16 Relevant 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 shall notify, or reason enough to be notified, another team carrying these Suggestions of interests and liens in support of Lender offered hereby

Section 6.18 Chief executive Work environment; Legislation out of Company. 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 Fees. 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.