Section 6.08 Assignment. Except as https://paydayloanalabama.com/baileyton/ 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 Safety 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 Details. (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 for as long as Bank is interested from inside the or lien to the any Equity, Debtor tend to keep otherwise reason to be stored all the associated Ideas inside the believe getting Bank.
Borrower will continue otherwise cause to be stored in sensible outline courses and facts out of account of its assets and you may organization and you will should clearly echo therein new guarantee regarding Collateral to help you Bank
(c) Through to reasonable progress see regarding Lender, Debtor should (x) make and all of such as for example Suggestions accessible to Lender to examine these Information, sometimes by a unique officers or employees, or by representatives otherwise designers, otherwise each other, and come up with duplicates of the many otherwise one piece thereof, and you will (y) allow Financial otherwise its authorized agents to talk about this new facts, earnings and account out-of Borrower with its master performing officer and you may head economic manager in order to talk about the situations, cash and you may membership out of Debtor with its independent official public 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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Debtor should notify, otherwise reason to be notified, almost every other cluster holding such Records of the interests and you can liens in support of Lender granted hereby
Section 6.18 Leader Work environment; Legislation away 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 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.