Borrower should maybe not make any issue improvement in the nature out-of their organization because the continuous from the time hereof
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 Safeguards Appeal. 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 Facts. (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 is interested in otherwise lien to your any Equity, Borrower tend to keep or reason to be held every relevant Facts inside trust for Financial.
Borrower shall continue or reason enough to be stored in practical outline courses and you will ideas off membership of their property and you may business and you may should demonstrably reflect therein the vow of Collateral so you can Financial
(c) On reasonable improve see of Bank, Borrower should (x) make as well as such Info available to Bank to look at any such Ideas, possibly by a unique officers or group, or by agencies or designers, otherwise each other, and also make copies of all or people piece thereof, and you will (y) permit Bank or its subscribed representatives to talk about the brand new facts, finances and account of Borrower using its master operating manager and you can master financial officer and to talk about the facts, money and you will levels regarding Debtor along with its independent certified personal accountants.
Section 6.16 Applicable Legislation. 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.
Debtor will alert, or reason to be informed, almost every other people carrying any such Ideas of hobbies and liens and only Financial offered hereby
Section 6.18 Chief executive Work environment; Jurisdiction of Business. 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, assessments and governmental charges or levies imposed on it or on its income or profits or on any of cash advance usa Alabama 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.
