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Borrower will perhaps not make thing improvement in the kind regarding the providers as the carried on within date hereof

admin October 10, 2024 0 Comment

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 Cover Desire. 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 Records. (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 provided Financial is interested inside otherwise lien to the one Equity, Borrower often hold or reason enough to be stored every related Facts in trust for Financial.

Debtor should continue or cause to be kept in practical detail courses and you will details away from membership of its assets and you will company and you may should obviously reflect therein the guarantee out-of Security to Financial

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(c) Upon sensible get better see from Lender, Borrower will (x) make and all sorts of such Details open to Financial to look at such Records, possibly by the its officers otherwise professionals, or by the agencies or contractors, or one another, while making duplicates of all of the otherwise any part thereof, and (y) permit Bank otherwise its subscribed agencies to talk about brand new items, funds and you can accounts away from Debtor featuring its master performing administrator and you can chief monetary administrator and discuss the facts, funds and you can levels away from Borrower having its separate authoritative public accounting firms.

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

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

Debtor will notify, otherwise reason enough to be notified, any kind of team holding these Suggestions of the passions and you may liens in favor of Bank offered hereby

Section 6.18 Leader Office; Jurisdiction regarding 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 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.

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