Borrower should not make any question change in the type out-of its team due to the fact proceeded from the time hereof

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 Defense Attention. 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 have provided Lender is interested within the otherwise lien with the people Guarantee, Borrower often hold or reason enough to be kept the related Info when you look at the trust to possess Bank.

Borrower will continue or cause to be stored in sensible detail guides and information off membership of its property and team and you will should certainly echo therein this new vow out of Security in order to Lender

(c) Upon practical advance see from Lender, Debtor should (x) make any and all of instance Information open to Financial to look at such Details, often by its officers otherwise staff, otherwise from the agencies otherwise contractors, otherwise one another, and then make copies of the many otherwise people portion thereof, and you will payday loans Gilbertown (y) allow Financial or their registered agencies to discuss brand new points, money and you may levels away from Borrower using its head working manager and you can chief financial officer in order to talk about the facts, money and you may account of Borrower along with its separate specialized social 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 reason to be notified, some other people carrying any such Info of the passion and liens and only Financial offered hereby

Section 6.18 Leader Workplace; Legislation out of 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.