Debtor will maybe not make any situation improvement in the sort from their organization since proceeded 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 Defense 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 Facts. (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 as long as Bank has an interest when you look at the otherwise lien on the any Guarantee, Borrower have a tendency to hold or reason to be kept most of the related Facts in believe having Lender.

Borrower should keep or reason to be kept in reasonable detail courses and you can info from membership of their possessions and organization and shall obviously mirror therein the fresh vow out-of Guarantee to help you Lender

(c) Upon sensible get better find off Financial, Borrower will (x) make any as well as such as for example Ideas open to Financial to examine such Details, possibly of the a unique officials otherwise team, or by representatives otherwise contractors, otherwise each other, making duplicates of the many or people part thereof, and you may (y) allow Lender or its subscribed agencies to discuss new points, finances and you can profile off Borrower having its head functioning officer and head financial administrator and discuss the products, finances and you can profile from Debtor along with its independent official social accounting firms.

Section 6.16 Appropriate Legislation. 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 will notify, or reason to be notified, every other group carrying these Ideas of your interests and you may liens and only Financial provided hereby

Section 6.18 Chief executive Work environment; Jurisdiction of Providers. 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 loans in Newton 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.