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 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 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) Getting so long as Financial is interested inside the otherwise lien towards people Equity, Borrower tend to hold otherwise reason to be held all of the relevant Suggestions in the believe for Lender.
Borrower should keep or reason to be stored in realistic outline instructions and you may suggestions away from account of its assets and you can organization and you can will certainly echo therein the new hope of Guarantee so you’re able to Financial
(c) Upon reasonable get better find of Bank, Borrower shall (x) make any and all sorts of for example Info available to Financial to examine these Facts, often from the its own officials or teams, or of the agents or builders, or one another, and then make copies of all of the otherwise one part thereof, and you will (y) enable Bank or their licensed agents to go over the newest activities, profit and accounts away from Debtor having its captain functioning administrator and chief economic officer and also to talk about the points, money and you may levels out-of Debtor having its separate specialized social accounting firms.
Section 6.16 Relevant Law. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lives. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Debtor shall notify, or reason enough to be informed, other cluster holding such Suggestions of your passion and you will liens in support of Lender granted hereby
Section 6.18 Leader Workplace; Legislation out of Team. 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 no bank account loans Benton 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.