Section 6.08 Project. Except as permitted herein, Borrower shall not https://paydayloanalabama.com/fyffe/ 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 Defense Appeal. 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) To own for as long as Bank is interested from inside the otherwise lien to the people Security, Borrower commonly hold or reason enough to be stored all the related Suggestions within the faith to possess Financial.
Debtor should keep otherwise reason enough to be stored in sensible detail courses and you can info away from account of the property and team and you may will clearly echo therein brand new vow out of Collateral in order to Bank
(c) Through to sensible advance notice out of Lender, Debtor will (x) make and all sorts of such as for example Suggestions offered to Financial to look at such Records, possibly by its very own officials otherwise group, or from the representatives or contractors, otherwise each other, and make duplicates of the many or one portion thereof, and (y) enable Bank otherwise their signed up representatives to talk about new products, earnings and you will profile of Debtor featuring its master performing manager and head economic manager and to discuss the things, earnings and you will accounts from Borrower using its separate official public 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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower should alert, otherwise reason enough to be notified, almost every other cluster carrying any such Details of one’s appeal and you may liens in favor of Bank offered hereby
Section 6.18 Chief executive 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.