Section 6.08 Assignment. 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 americash loans Clayhatchee the Loan Documents.

Section 6.09 Safeguards Notice. 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 Details. (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 when you look at the or lien on any Security, Debtor will hold otherwise reason to be stored all the relevant Records inside trust to have Bank.

Borrower shall remain or reason enough to be kept in reasonable detail courses and you will facts away from account of its possessions and you can business and you may will demonstrably mirror therein brand new hope from Equity in order to Bank

(c) Abreast of sensible improve see off Bank, Debtor will (x) make any and all of instance Details accessible to Financial to examine these Facts, possibly by the its own officers or teams, or by representatives or builders, otherwise both, and work out copies of all the otherwise one bit thereof, and you may (y) permit Financial or its licensed agencies to go over new items, profit and profile out-of Debtor along with its head functioning administrator and you can captain monetary manager in order to talk about the factors, finances and you may levels from Borrower using its separate certified societal accountants.

Section 6.16 Relevant Law. 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.

Borrower should alert, otherwise cause to be notified, another class holding these Suggestions of your own passions and you will liens in favor of Lender supplied hereby

Section 6.18 Chief executive Work environment; Jurisdiction regarding 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.