6.2 EDSR 10-17-2016 - Laserfiche WebLink

Home Browse Search

4.6.Collateral Location.Debtor will keep all tangible Collateral at Debtor’s principal office. 4.7.Collateral Use.Debtor will use the Collateral only for business purposes. Debtor will not use orkeep any Collateral for any unlawful purpose or in violation of any federal, state or local law, statute or ordinance. 4.8.Maintenance of Collateral.Debtor will maintain all tangible Collateral in good condition and repair.Debtor will not commit or permit damage to or destruction of any of the Collateral. Debtor will give Secured Party prompt written notice of any material loss of or damage to any tangible Collateral and of any other happening or event that materially affects the existence, value or amount of the Collateral. 4.9.Disposition of Collateral.Debtor will not sell or otherwise dispose of any Collateral or any interestin any Collateral without the prior written consent of Secured Party, except that until the occurrence of an Event of Default (as defined in Section 5 below), Debtor may sell any inventory constituting Collateral in the ordinary course of Debtor's business. 4.10.Taxes, Assessments and Liens.Debtor will promptly pay all taxes and other governmental chargeslevied or assessed upon or against any Collateral. 4.11.Records; Access.Debtor will keep accurate and complete records pertaining to the Collateral and toDebtor’s business and financial condition and will submit to Secured Party all reports regarding theCollateral and Debtor’s business and financial condition as and when Secured Party may reasonably request. During normal business hours, Debtor will permit Secured Party and its representatives to examine or inspect any Collateral, wherever located, and to examine, inspect and copy Debtor's books and records relating to the Collateral and Debtor’s business and financial condition. 4.12.Insurance.Debtor will keep all tangible Collateral insured against risks of fire (including so-calledextended coverage), theft and other risks and in such amounts as Secured Party may reasonably request, with any loss payable to Secured Party to the extent of its interest. Debtor assigns to Secured Party all money due or to become duewith respect to, and all other rights of Debtor withrespect to, all insurance concerning the Collateral and Debtor directs the issuer of any such insurance to pay all such money directly to Secured Party. 4.13.Collection Costs.Debtor will reimburse SecuredParty on demand for all costs of collection of anyof the Obligations and all other expenses incurred by Secured Party in connection with the perfection, protection, defense or enforcement of the Security Interest and this Agreement, including all reasonable attorneys' fees incurred by Secured Party whether or not any litigation or bankruptcy or 3 488002v1 EL185-45