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 Defense 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 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) To have so long as Lender is interested when you look at the otherwise lien into the any Guarantee, Debtor commonly hold or cause to be stored all the relevant Records when you look at the believe for Bank.
Borrower should remain otherwise reason enough to be kept in practical outline books and suggestions out of account of the property and you may company and you can will demonstrably mirror therein this new promise out-of Collateral so you’re able to Lender
(c) Abreast of realistic get better see off Financial, Borrower will (x) make any and all sorts of such as Information open to Bank to examine such Records, sometimes by the a unique officials otherwise staff, otherwise of the agents or builders, or both, and make duplicates of the many otherwise people bit thereof, and you can (y) allow Bank or the registered representatives to discuss the brand new circumstances, earnings and you may membership out-of Borrower using its captain doing work manager and you may chief economic manager and also to discuss the circumstances, cash and you may accounts away from Borrower along with its independent certified societal accountants.
Section 6.16 Relevant Rules. 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.
Debtor should alert, otherwise reason to be notified, various other people carrying such Records of the welfare and liens in favor of Financial granted hereby
Section 6.18 Leader Work environment; Jurisdiction out-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 Taxes. Borrower shall timely file all tax returns that are required to http://elitecashadvance.com/personal-loans-wv/clearview/ 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.