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 Coverage Appeal. 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 Suggestions. (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) Getting as long as Bank is interested inside the otherwise lien into the people Guarantee, Debtor commonly hold otherwise cause to be held most of the associated Facts within the believe having Bank.

Debtor will remain otherwise reason to be stored in reasonable detail books and records out of membership of their property and company and you can should clearly reflect therein the newest vow from Equity so you’re able to Lender

(c) On realistic advance observe regarding Bank, Debtor will (x) make and all sorts of particularly Info accessible to Lender to look at such Suggestions, often by its own officers or teams, or by the agents or builders, or both, and work out duplicates of all of the otherwise one section thereof, and you will (y) permit Bank otherwise their registered agencies to go over the fresh new affairs, finances and profile out-of Debtor using its master performing administrator and you can head economic officer also to talk about the situations, cash and you can membership regarding Debtor with its independent certified personal accounting firms.

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

Borrower should alert, otherwise reason to be informed, another people carrying these Details of the welfare and liens and only Bank granted hereby

Section 6.18 Chief executive Place of work; Jurisdiction regarding 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 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 loans in Mooresville without credit check 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.