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4.7.Collateral Use.The Grantor mustuse the Collateral only for business purposes. <br />The Grantor mustnot use orkeep any Collateral for any unlawful purpose or in <br />violation of any federal, state or local law, statute or ordinance. <br />4.8.Maintenance of Collateral.The Grantor mustmaintainall tangible Collateral in <br />good condition and repair.The Grantor mustnot commit or permit damage to or <br />destruction of any of the Collateral. The Grantor mustgive 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 />4.9.Disposition of Collateral.The Grantor mustnot sell or otherwise dispose of any <br />Collateral or any interestin 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 Grantormay sell any inventory constituting Collateral in <br />the ordinary course of the Grantor’sbusiness. <br />4.10.Taxes, Assessments and Liens.The Grantor mustpromptly pay all taxes and <br />other governmental chargeslevied or assessed upon or against any Collateral. <br />4.11.Records; Access.The Grantor mustkeep accurate and complete records <br />pertaining to the Collateral and tothe Grantor’sbusiness and financial condition <br />and will submit to Secured Party all reports regarding the Collateral and the <br />Grantor’sbusiness and financial condition as and when Secured Party may <br />reasonably request. During normal business hours, the Grantor mustpermit <br />Secured Party and its representatives to examine or inspect any Collateral, <br />wherever located, and to examine, inspect and copy the Grantor’sbooks and <br />records relating to the Collateral and the Grantor’sbusiness and financial <br />condition. <br />4.12.Insurance.The Grantor mustkeep all tangible Collateral insured against risks of <br />fire (including so-calledextended 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 Grantorassigns 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 Grantordirects the <br />issuer of any such insurance to pay all such money directly to Secured Party. <br />4.13.Collection Costs.The Grantor mustreimburse Secured Party on demand for all <br />costs of collection of anyof 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 />4.14.Financing Statements.The Grantorauthorizes Secured Party to file one or more <br />3 <br />477333v4 EL185-40 <br /> <br />