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 Safeguards 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 Facts. (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 Financial is interested when you look at the otherwise lien with the people Guarantee, Borrower commonly hold otherwise cause to be kept the associated Records for the faith for Bank.
Borrower shall keep or cause to be kept in realistic outline courses and you may suggestions off membership of the assets and you may business and you can shall demonstrably reflect therein the new hope off Collateral so you can Financial
(c) Abreast of realistic improve notice out of Bank, Debtor shall (x) make and all particularly Details accessible to Financial to look at such Info, often of the its officers or teams, or because of the agents or builders, or both, and then make copies of all of the or people section thereof, and you may (y) allow Financial otherwise their subscribed agencies to go over this new affairs, money and you can accounts regarding Borrower featuring its captain functioning officer and you can master monetary officer and talk about the factors, earnings and you may membership away from Borrower featuring its separate specialized personal accounting firms.
Section 6.16 Applicable Legislation. 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.
Borrower will alert, otherwise cause to be informed, some other class holding these Records of your welfare and you will liens in support of Lender supplied hereby
Section 6.18 Leader Workplace; Legislation from 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 paydayloanalabama.com/carolina 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.
