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<br />The Grantor must not use or keep any Collateral for any unlawful purpose or in <br />violation of any federal, state or local law, statute or ordinance. <br /> <br /> <br />4.8.Maintenance of Collateral. The Grantor must maintain all tangible Collateral in <br />good condition and repair. The Grantor must not commit or permit damage to or <br />destruction of any of the Collateral. The Grantor must give Secured Party prompt <br />written notice of any material loss of or damage to any tangible Collateral and of <br />any other happening or event that materially affects the existence, value or <br />amount of the Collateral. <br /> <br /> <br />4.9.Disposition of Collateral. The Grantor must not sell or otherwise dispose of any <br />Collateral or any interest in any Collateral without the prior written consent of <br />Secured Party, except that until the occurrence of an Event of Default (as defined <br />in Section 5 below), the Grantor may sell any inventory constituting Collateral in <br />the ordinary course of the Grantor’s business. <br /> <br /> <br />4.10.Taxes, Assessments and Liens. The Grantor must promptly pay all taxes and <br />other governmental charges levied or assessed upon or against any Collateral. <br /> <br /> <br />4.11.Records; Access. The Grantor must keep accurate and complete records <br />pertaining to the Collateral and to the Grantor’s business and financial condition <br />and will submit to Secured Party all reports regarding the Collateral and the <br />Grantor’s business and financial condition as and when Secured Party may <br />reasonably request. During normal business hours, the Grantor must permit <br />Secured Party and its representatives to examine or inspect any Collateral, <br />wherever located, and to examine, inspect and copy the Grantor’s books and <br />records relating to the Collateral and the Grantor’s business and financial <br />condition. <br /> <br /> <br />4.12.Insurance. The Grantor must keep all tangible Collateral insured against risks of <br />fire (including so-called extended coverage), theft and other risks and in such <br />amounts as Secured Party may reasonably request, with any loss payable to <br />Secured Party to the extent of its interest. The Grantor assigns to Secured Party <br />all money due or to become due with respect to, and all other rights of the Grantor <br />with respect to, all insurance concerning the Collateral and the Grantor directs the <br />issuer of any such insurance to pay all such money directly to Secured Party. <br /> <br /> <br />4.13.Collection Costs. The Grantor must reimburse Secured Party on demand for all <br />costs of collection of any of the Obligations and all other expenses incurred by <br />Secured Party in connection with the perfection, protection, defense or <br />enforcement of the Security Interest and this Agreement, including all reasonable <br />attorneys’ fees incurred by Secured Party whether or not any litigation or <br />bankruptcy or insolvency proceeding is commenced. <br /> <br /> <br />4.14.Financing Statements. The Grantor authorizes Secured Party to file one or more <br />financing or continuation statements, and amendments thereto, relative to all or <br />3 <br />473884v2 EL185-39 <br />