Debtor shall not make any topic improvement in the sort of its team just like the carried on during 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 https://paydayloanalabama.com/gallant/ 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 Shelter 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 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) To have so long as Lender is interested during the otherwise lien into one Equity, Borrower often hold or cause to be kept all the related Ideas in faith to own Lender.

Borrower will keep or reason to be kept in sensible detail books and you may details off account of their possessions and you may team and you may will demonstrably echo therein the latest hope away from Collateral to Lender

(c) Abreast of reasonable get better observe away from Lender, Borrower will (x) make and all sorts of such as Facts accessible to Bank to look at such Ideas, both by its own officials or teams, otherwise by the agents otherwise designers, otherwise one another, and come up with copies of the many or any portion thereof, and you will (y) enable Bank or its licensed agents to discuss this new things, profit and you may levels out-of Debtor along with its head doing work manager and you can chief financial manager and also to talk about the facts, earnings and you will profile out-of Debtor having its separate official social accounting firms.

Section 6.16 Relevant Rules. 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 alert, or reason to be notified, any other group holding these Records of the welfare and liens in favor of Financial provided hereby

Section 6.18 Chief executive Work environment; 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 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 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.