Section 6.08 Task. 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 Notice. 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) To own provided Financial is interested within the or lien for the people Collateral, Borrower usually keep otherwise cause to be held all associated Details when you look at the trust having Financial.

Borrower will remain otherwise cause to be stored in reasonable detail courses and you will information regarding membership of the property and you can business no credit check payday loans Fairview and shall demonstrably mirror therein the brand new hope off Security to help you Bank

(c) Upon realistic get better see off Lender, Debtor shall (x) make any and all of like Ideas available to Bank to look at any such Information, either by the its officials or team, otherwise by the agents otherwise builders, otherwise each other, and make copies of all the or people piece thereof, and you may (y) enable Lender or their authorized agents to go over the items, cash and you may levels out-of Borrower having its captain working administrator and captain financial administrator and talk about the factors, funds and you can profile out of Borrower with its independent certified public accountants.

Section 6.16 Appropriate Laws. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.

Section 6.17 Life. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.

Borrower should notify, or reason enough to be informed, any team carrying these Facts of one’s appeal and liens and only Financial provided hereby

Section 6.18 Leader Place of work; 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 Taxes. 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.