Section 6.08 Assignment. Except as permitted herein, Borrower shall not sell, assign, transfer or otherwise dispose of, or https://paydayloanalabama.com/ariton/ 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 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) Getting for as long as Financial has an interest when you look at the otherwise lien into people Equity, Borrower commonly hold otherwise reason enough to be held every associated Facts in faith for Bank.

Debtor will remain otherwise reason to be stored in reasonable outline instructions and details out of account of their assets and providers and you will will demonstrably reflect therein brand new hope regarding Collateral so you’re able to Financial

(c) Upon sensible progress notice of Financial, Debtor shall (x) make any and all such Ideas offered to Bank to look at these Records, possibly by its very own officers otherwise teams, otherwise because of the agents or builders, otherwise each other, and make duplicates of all the or people piece thereof, and you can (y) enable Financial or its signed up agencies to talk about new affairs, cash and you may accounts out of Debtor using its head performing manager and captain financial officer also to discuss the facts, funds and you will account of Debtor with its independent certified personal accounting firms.

Section 6.16 Relevant 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.

Debtor shall notify, otherwise cause to be notified, virtually any class holding such Ideas of your hobbies and liens and only Financial offered hereby

Section 6.18 Leader Office; Jurisdiction of 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 Taxes. 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.