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 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 Protection 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 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 american cash loans Pell City AL them against loss.

(b) To have provided Bank is interested inside the or lien with the any Security, Debtor have a tendency to hold otherwise reason enough to be held all of the associated Information into the trust getting Lender.

Debtor should remain otherwise reason to be kept in reasonable outline instructions and you may suggestions of account of their property and you can company and you may shall clearly reflect therein the new vow regarding Collateral to Bank

(c) On reasonable progress see out-of Lender, Debtor will (x) make any and all of for example Records offered to Financial to look at any such Records, often by the its very own officers otherwise teams, otherwise by the representatives otherwise builders, otherwise each other, and also make duplicates of all the otherwise one piece thereof, and (y) allow Financial or its registered agencies to go over the affairs, funds and you will profile regarding Debtor along with its captain doing work administrator and chief monetary administrator in order to talk about the products, profit and membership away from Debtor with its separate certified societal 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.

Borrower shall alert, or cause to be informed, all other people holding such Info of your own passion and you may liens in favor of Bank offered hereby

Section 6.18 Chief executive Workplace; Jurisdiction off Organization. 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.