Debtor will maybe not make thing improvement in the type of their providers since continuing within big date hereof

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 Security 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 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 them against loss.

(b) To have provided Financial is interested inside or lien towards the any Security, Borrower usually keep otherwise reason to be held all associated Suggestions when you look at the trust getting Lender.

Debtor shall continue otherwise cause to be stored in practical outline courses and you will information regarding membership of their possessions and you may company and you may should installment loans no credit check direct lenders only South Dakota demonstrably reflect therein brand new promise away from Collateral to help you Lender

(c) Abreast of realistic advance notice regarding Lender, Debtor will (x) make as well as such as for instance Records accessible to Bank to look at any such Suggestions, either of the a unique officers otherwise team, otherwise from the agents or builders, otherwise each other, and also make copies of the many otherwise one bit thereof, and (y) permit Lender or the subscribed agents to talk about the fresh new situations, earnings and you may profile off Borrower using its master functioning administrator and you may captain financial manager also to discuss the items, earnings and you will levels from Debtor using its independent authoritative societal accounting firms.

Section 6.16 Relevant Rules. 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.

Debtor will alert, or reason enough to be notified, all other class holding any such Ideas of your hobbies and you may liens in support of Bank granted hereby

Section 6.18 Leader Work environment; Legislation off Team. 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 Taxation. 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.