Debtor will perhaps not make issue change in the kind from the business once the continued at go out hereof
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 Defense 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 Ideas. (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 Bank is interested into the otherwise lien to your one Equity, Debtor will hold or reason to be held all the relevant Info inside believe for Financial.
Borrower will continue otherwise cause to be stored in reasonable detail instructions and information Victoria federal credit union personal loan away from membership of its possessions and you will organization and you will shall clearly mirror therein the latest hope out of Equity so you’re able to Bank
(c) On sensible get better notice from Lender, Borrower should (x) make and all of such as for example Details available to Lender to look at any such Information, sometimes by the a unique officials or group, otherwise of the agencies otherwise builders, otherwise each other, to make copies of all otherwise one bit thereof, and you will (y) enable Financial otherwise its signed up agents to talk about new things, cash and you may account away from Borrower using its head doing work manager and you can head economic administrator and discuss the things, funds and you may accounts off Debtor using its independent 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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.
Borrower shall alert, otherwise reason enough to be notified, any team carrying these Suggestions of the passions and you can liens in favor of Financial granted hereby
Section 6.18 Leader Workplace; Jurisdiction out 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.