Debtor will perhaps not make any material change in the type regarding its organization while the continuous from the date hereof

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 Cover 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) Getting as long as Lender has an interest during the or lien to your one Security, Debtor have a tendency to hold or cause to be kept all related Info in trust getting Financial.

Borrower should keep or reason to be kept in reasonable outline courses and records of membership of its assets and you can business and you can should certainly mirror therein the fresh new hope regarding Guarantee in order to Financial

(c) Upon reasonable advance see regarding Lender, Borrower will (x) make and all of such as Information open to Lender to look at these Records, sometimes by a unique officers or group, otherwise from the agents or designers, otherwise both, while making duplicates of all otherwise people section thereof, and you can (y) allow Financial otherwise the authorized agencies to go over the brand new things, profit and you will accounts regarding Borrower along with its chief working officer and you may loan places Ashville head monetary officer and discuss the items, funds and levels out of Borrower having its separate certified public 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 Existence. Borrower shall preserve and maintain its legal existence and all of its material rights, privileges, material licenses and franchises.

Borrower will notify, otherwise cause to be informed, any kind of people carrying such Facts of your welfare and you can liens in favor of Lender offered hereby

Section 6.18 Leader Workplace; Legislation off 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 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.