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 Security 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 Information. (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 as long as Financial has an interest in or lien towards the people Collateral, Debtor tend to keep otherwise reason to be stored most of the relevant Facts in the trust to have Financial.

Borrower will keep otherwise reason to be stored in sensible detail courses and information out-of account of its property and providers and will obviously echo therein this new pledge regarding Security so you’re able to Financial

(c) On practical improve notice away from Financial, Borrower will (x) make and all of such as for example Suggestions accessible to Financial to examine any such Info, either of the a unique officers or professionals, otherwise by the representatives or contractors, otherwise one another, while making duplicates of all of the or one portion thereof, and you will (y) enable Financial otherwise their authorized agents to discuss the new activities, profit and you can accounts of Debtor featuring its master doing work manager and you may head monetary administrator and talk about the products, earnings and account away from Debtor having its separate formal personal accounting firms.

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 Life. 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, any kind of team carrying any such Suggestions of your appeal and liens and only Bank supplied hereby

Section 6.18 Leader Workplace; Legislation out-of Team. Borrower shall not move its chief executive office from the https://paydayloanalabama.com/oxford/ 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.