Borrower shall perhaps not make topic improvement in the nature out-of the providers since carried on on 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 Cover Focus. 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 www.elitecashadvance.com/personal-loans-va/.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) For for as long as Financial has an interest for the otherwise lien into the any Security, Borrower commonly hold or reason enough to be stored every relevant Info inside believe having Bank.

Borrower should keep otherwise cause to be stored in sensible outline courses and you may information away from account of their property and team and you may shall certainly echo therein the fresh new hope from Guarantee so you’re able to Financial

(c) Up on sensible advance observe off Lender, Borrower shall (x) make any and all of such as for example Info available to Lender to examine such Information, both of the its own officers or team, or by representatives otherwise contractors, otherwise one another, and come up with duplicates of the many or people piece thereof, and (y) permit Lender or their signed up agencies to discuss the facts, earnings and you will account out-of Borrower featuring its chief performing officer and chief economic officer and discuss the products, funds and you may membership out-of Borrower featuring its separate formal public accountants.

Section 6.16 Appropriate Laws. 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 should notify, otherwise reason to be informed, other party holding any such Information of your appeal and you may liens in favor of Bank supplied hereby

Section 6.18 Chief executive Place of work; Legislation out-of 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.