Section 6.08 Project. 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 Safety 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, 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 Suggestions. (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) Having provided Bank has an interest when you look at the or lien for the people Collateral, Debtor often hold or reason enough to be stored all related Info inside faith getting Bank.
Debtor should keep otherwise reason enough to be kept in realistic outline instructions and you may suggestions out of account of its possessions and you will organization and will certainly reflect therein new pledge of Guarantee so you’re able to Bank
(c) On sensible progress see off Financial, Debtor will (x) make any and all of such as Ideas open to Financial to examine any such Ideas, often of the its own officers otherwise team, otherwise from the representatives or designers, otherwise each other, and come up with copies of the many otherwise people section thereof, and (y) permit Bank or its authorized representatives to talk about the latest items, cash and account of Borrower having its head functioning manager and you may chief monetary officer and talk about the circumstances, profit and you can membership regarding Debtor featuring its separate official societal 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.
Debtor shall alert, or reason to be informed, all other class carrying these Info of the hobbies and you can liens in favor of Bank offered hereby
Section 6.18 Chief executive Place of work; Jurisdiction from Providers. 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, proceed this link now 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.