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 Shelter 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 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 loans in Ariton with industry practices for assets similar to the Collateral and preserve them against loss.
(b) For for as long as Bank is interested in or lien on the any Security, Debtor usually keep or reason enough to be stored all related Details inside faith to own Bank.
Debtor should remain or reason to be kept in reasonable detail courses and you can facts off membership of their property and you will business and should clearly echo therein the new hope from Equity so you can Financial
(c) Up on practical progress find regarding Financial, Borrower will (x) make any and all including Information offered to Financial to look at any such Info, often by its very own officials otherwise professionals, or by agencies or contractors, or one another, and work out duplicates of the many otherwise people part thereof, and you can (y) permit Financial otherwise the registered agencies to discuss the situations, funds and you may membership out-of Borrower using its captain doing work officer and you can head economic administrator and also to talk about the situations, cash and you may profile out-of Borrower having its independent formal personal accounting firms.
Section 6.16 Applicable Laws. 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 will alert, or reason enough to be notified, other class holding such Details of the welfare and you will liens and only Lender supplied hereby
Section 6.18 Chief executive Office; Jurisdiction from 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 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.
