Section 6.08 Task. 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 Coverage 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 Information. (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 loan places Greensboro industry practices for assets similar to the Collateral and preserve them against loss.
(b) Getting for as long as Bank is interested within the or lien towards the any Security, Borrower have a tendency to keep or reason enough to be held all the relevant Suggestions inside the believe having Lender.
Borrower shall continue or reason enough to be kept in reasonable outline courses and information out-of membership of its possessions and you may providers and you will will certainly reflect therein the newest hope from Collateral to help you Bank
(c) On realistic progress observe off Bank, Debtor shall (x) make and all of eg Details open to Financial to look at such Records, both by the its officials or team, or by agents or builders, otherwise both, and then make copies of all the or one bit thereof, and you can (y) permit Lender otherwise the registered representatives to discuss brand new issues, money and you may profile regarding Borrower along with its chief working manager and you can chief economic officer also to discuss the points, cash and accounts out-of Borrower along with its separate authoritative social accountants.
Section 6.16 Appropriate Rules. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lifestyle. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower will notify, or cause to be informed, every other class carrying such Facts of one’s interests and you may liens and only Lender supplied hereby
Section 6.18 Chief executive Workplace; Jurisdiction of Company. 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.
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