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 Security 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 Records. (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) Having provided Bank has an interest inside otherwise lien for the people Guarantee, Debtor have a tendency to keep otherwise reason to be stored all the associated Suggestions when you look at the believe to have Lender.
Borrower shall keep or reason to be stored in reasonable outline guides and you will ideas off membership of its property and you can providers and you can will certainly echo therein the brand new vow from Security so you’re able to Lender
(c) Upon sensible progress notice off Financial, Borrower should (x) make and all sorts of such Ideas accessible to Lender to look at such Information, both by the its own officers or personnel, or of the agents or designers, or one another, and also make duplicates of all of the otherwise people section thereof, and you will (y) permit Financial otherwise the signed up representatives to go over the factors, profit and you will profile of Debtor along with its master functioning manager and you will master monetary administrator also to discuss the factors, funds and you will profile of Borrower having its separate specialized societal 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 Lifetime. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Debtor should notify, or cause to be informed, any other team holding these Information of one’s welfare and you can liens in support of Lender supplied hereby
Section 6.18 Leader Place of work; Legislation 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 http://www.elitecashadvance.com/personal-loans-tn/cleveland/ 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.