Debtor should not make any question improvement in the sort out of their team since persisted at day hereof

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 Ideas. (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 as long as Lender has an interest for the otherwise lien for the people Equity, Borrower usually hold or reason enough to be held the relevant Facts for the trust having Lender.

Borrower will remain or reason to be stored in practical detail books and you may facts from account of their possessions and you may company and you can should demonstrably reflect therein the brand new vow off Security to help you Financial

(c) Abreast of practical get better notice from Financial, Borrower should (x) make and all like Records accessible to Bank to look at these Records, possibly by the its officers otherwise staff, or from the agents otherwise contractors, otherwise both, making duplicates of all or one section thereof, and you will (y) allow Lender or their authorized representatives to go over new items, earnings and you may profile from Debtor using its captain doing work manager and you may captain monetary officer in order to discuss the products, cash and you can account off Borrower featuring its independent certified 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 Lives. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.

Debtor should notify, otherwise cause to be notified, every other team holding any such Suggestions of the passions and liens in support of Financial granted hereby

Section 6.18 Leader Place of work; Jurisdiction out-of Organization. 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 payday loans Hobson 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.