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 Cover Interest. 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 americash loans Reform, 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 so long as Lender has an interest during the or lien with the one Equity, Borrower commonly keep or reason enough to be kept all of the relevant Records during the faith for Lender.
Borrower shall continue otherwise cause to be kept in practical outline courses and you may details regarding membership of the assets and you may team and should certainly echo therein new pledge of Collateral to Bank
(c) Up on realistic improve see of Bank, Borrower will (x) make and all of such as for example Suggestions accessible to Financial to look at such Info, either by a unique officials or group, or by agencies otherwise designers, otherwise each other, and also make copies of all the otherwise any portion thereof, and you may (y) permit Financial otherwise its signed up agencies to discuss brand new circumstances, cash and profile out of Debtor having its head functioning manager and captain financial officer and to talk about the factors, finances and you will profile away from Debtor using its independent authoritative social accountants.
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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower should alert, or reason enough to be informed, other party holding such Facts of passions and you can liens in support of Financial provided hereby
Section 6.18 Chief executive Work environment; Jurisdiction off 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 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.
