Debtor should maybe not make any issue change in the type regarding the providers since the persisted within time hereof

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 the Loan Documents.

Section 6.09 Safety 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 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 https://paydayloanalabama.com/ider/ 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 so long as Financial has an interest inside the otherwise lien to the one Equity, Borrower usually keep or cause to be held all the related Ideas inside the believe to own Lender.

Debtor shall continue otherwise reason enough to be stored in sensible detail guides and facts regarding membership of the assets and you will team and you will will obviously reflect therein the brand new guarantee regarding Equity so you’re able to Financial

(c) Through to reasonable improve see away from Financial, Borrower shall (x) make and all sorts of particularly Suggestions accessible to Bank to look at these Facts, both by the its officials otherwise employees, or of the agencies or builders, otherwise one another, and work out duplicates of the many or one section thereof, and (y) allow Bank otherwise the licensed agencies to talk about the new products, funds and membership from Debtor using its head operating administrator and head economic manager in order to talk about the issues, profit and you can membership regarding Borrower having its independent certified social 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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.

Debtor will notify, otherwise reason to be informed, all other people carrying these Details of your hobbies and you can liens in favor of Bank provided hereby

Section 6.18 Chief executive Office; Jurisdiction off 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 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.

By kibriDagan in cash advance loan usa on 23.10.2024