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 Coverage Attract. 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) To own provided Financial is interested when you look at the or lien with the one Security, Borrower usually keep or reason to be held all of the related Facts cash advance in Louisville AL in faith to own Lender.

Borrower should remain otherwise cause to be kept in realistic detail courses and details regarding membership of its property and you will company and you will should clearly echo therein the brand new pledge regarding Collateral so you can Bank

(c) Upon reasonable progress notice away from Bank, Borrower shall (x) make any and all sorts of for example Records accessible to Bank to examine such Ideas, often because of the its very own officials otherwise professionals, or because of the representatives or designers, or both, and make copies of all of the otherwise one part thereof, and you will (y) allow Financial otherwise its licensed agencies to talk about brand new facts, earnings and you can account off Borrower along with its chief working administrator and you can chief financial officer and talk about the items, earnings and you can accounts regarding Borrower along with its independent specialized social accountants.

Section 6.16 Appropriate Rules. Borrower shall comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority.

Section 6.17 Lives. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.

Debtor will notify, or reason enough to be informed, any class carrying these Info of the hobbies and you may liens in favor of Lender granted hereby

Section 6.18 Leader Office; 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 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.