6.3. EDSR 12-21-2015 - Laserfiche WebLink

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13. Warranties. Borrower represents and warrants to Lender the following: (a) The Borrower is corporation duly formed, validly existing and in good standing under the laws of the State of Minnesota. (b) The making and performance of this Agreement and the execution and delivery of the Note, the Security Agreement and any other instrument required hereunder are within the powers of the Borrower and have been duly authorized by all necessary company action on the part of the Borrower. This Agreement and the Note, the Security Agreement and any other instruments required hereunder have been duly executed and delivered and are the legal, valid and binding obligations of the Borrower enforceable in accordance with their respective terms. (c) No litigation, tax claims or governmental proceedings are pending or threatened against the Borrower or the Loan Property, and no judgment or order of any court or administrative agency is outstanding against the Borrower or the Equipment which would have a material adverse effect on Borrower or the Equipment. (d) Borrower has filed all tax returns (federal and state) required to be filed for all prior years and paid all taxes shown thereon to be due, including interest and penalties. Borrower will file all such returns and pay all such taxes for the current and future years. (e) All information, financial or other, which has been submitted by Borrower and Guarantors in connection with the Loan is true, accurate and complete in all material respects. 14. Indemnification. Borrower agrees to indemnify Lender and save it harmless against all loss, liability, expense, or damages including but not limited to attorneys' fees, which may arise by reason of any default by Borrower under this Agreement, the Note, the Security Agreement, the Subsidy Agreement or any other document supporting this Loan. 15. Defaults. Each of the following shall constitute an Event of Default: (a) Bankruptcy, reorganization, assignment, insolvency or liquidation proceedings, or other proceedings for relief under any applicable bankruptcy law or other law for relief of debtors are instituted by or against Borrower and, if such proceedings are instituted against Borrower, an order, judgment or decree, without the consent of Borrower appointing a trustee or receiver for Borrower or any part of its property or approving a petition under the bankruptcy laws of the United States or any similar laws of any state or other competent jurisdiction, -7-