Section 6.08 Task. 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 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 so long as Lender has an interest from inside the otherwise lien for the any Collateral, Debtor have a tendency to hold or reason enough to be kept the associated Ideas into the believe to have Financial.
Borrower shall remain otherwise reason enough to be kept in reasonable detail guides and you will ideas off membership of its property and you may organization and you will should clearly reflect therein this new pledge off Collateral so you can Bank
(c) Through to reasonable advance find from Bank, Debtor should (x) make any and all of such Records open to Financial to look at these Information, possibly by a unique officials otherwise employees, or because of the agents otherwise designers, or one another, making duplicates of the many otherwise people portion thereof, and you can (y) enable Lender or its authorized agents to discuss the fresh products, money and you will profile out-of Debtor having its head doing work administrator and chief monetary manager and to discuss same day loans Iowa the things, money and profile off Borrower featuring its separate official public accountants.
Section 6.16 Appropriate Law. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.
Section 6.17 Lifetime. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower will notify, otherwise reason enough to be informed, all other team carrying such Ideas of your passions and you may liens in favor of Financial provided hereby
Section 6.18 Chief executive Office; Jurisdiction from 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 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.