Section 6.08 Task. Except as permitted herein, Borrower shall not sell, assign, transfer or otherwise dispose loans for bad credit in Ardmore AL 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 Protection 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 Information. (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 Bank has an interest in the otherwise lien for the people Guarantee, Debtor will keep otherwise reason to be stored all associated Information for the faith to own Lender.

Borrower should keep otherwise cause to be stored in reasonable detail guides and facts off membership of their assets and you can company and you may will demonstrably mirror therein new vow from Security to help you Bank

(c) Abreast of practical improve see out of Lender, Borrower shall (x) make any and all of for example Details available to Lender to examine such Info, both by the a unique officials otherwise group, otherwise by the agents otherwise designers, or each other, and make copies of the many otherwise one piece thereof, and (y) permit Lender or its authorized representatives to go over new issues, profit and you will membership from Borrower featuring its master functioning manager and you may captain economic manager and to talk about the items, profit and you can membership regarding Borrower with its independent specialized public accounting firms.

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

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

Borrower should notify, or reason enough to be notified, every other team carrying these Details of one’s interests and you may liens in support of Bank provided hereby

Section 6.18 Leader Office; Jurisdiction out of 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.