6.3. EDSR 12-21-2015 - Laserfiche WebLink

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and such other types of insurance as are reasonably required by Lender from time to time, including, without limitation, the coverages expressly required by the Security Agreement, insuring Lender and Borrower with coverages, in amounts and with companies satisfactory to Lender. A copy of the policy or policies or duly executed certificate or certificates for such insurance and renewals or replacements thereof shall be deposited with Lender. (c) Pay Charges. Immediately pay: (i) One percent (1%) processing fee (if not already paid); (ii) all of Lender's attorneys' fees; and (iii) all loan charges including, but not limited to, filing fees of the Security Agreement and any other instruments required under this Agreement, except to the extent otherwise payable by Lender. (d) Copies of Contracts. Furnish Lender from time to time as reasonably requested by Lender, copies of the contracts relating to the purchase of the Equipment together with estimated costs of the Equipment. (e) Continual Operation. At all times while any portion of the Loan remains outstanding, Borrower will: (i) maintain its status as a for profit entity; (ii) maintain a positive net worth; and (iii) will operate its business from the Loan Property in a first class manner. (1) Default Notices. Provide Lender with a copy of any default notice received pursuant to the Other Financing, promptly after receipt of the same. (g) Title to Equipment. Borrower owns or will own all of the Equipment "free and clear," that Lender will have a "first position" lien in the Equipment pursuant to the Security Agreement and that no other party has any right, title or interest in the Equipment, except those security interests in the Equipment in favor of the Bank, which are and shall at all times be subordinate to Lender's security interest in the Equipment. (h) Debt Service Coverage Ratio. Borrower is able to comply with the requirements set forth in section 6(aa) of the Other Financing document entitled "Commercial Loan Agreement," regardless of whether such agreement remains in force. (i) Positive Net Worth. On each anniversary of the Closing Date, Borrower shall provide interim financial statements (to date) of Borrower consisting of at least statements of income, cash flow, and a balance sheet such year to date, setting forth in each case in comparative form corresponding figures from the previous fiscal year, which statements shall be certified by Borrower as true, correct and complete. In each such interim financial statement, Borrower must show a positive net worth. I M,