Laserfiche WebLink
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 /> 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 /> 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 /> 4.11. Records; Access. Grantor agrees to maintain accurate and complete books, <br /> accounts and records in regard to the Loan Property and Equipment in a manner <br /> reasonably acceptable to Secured Party. At Secured Party's request, the Grantor <br /> shall furnish all such books, accounts and records to the Secured Party's <br /> municipal or financial advisor as reasonably demanded. The Secured Party's <br /> municipal advisor or financial advisor shall have the right to inspect, examine and <br /> copy all such books, accounts and records. The Grantor will not be required to <br /> provide its books, accounts and records directly to the Secured Party. At the time <br /> of Secured Party's request of Grantor's books, accounts and records, the Grantor, <br /> Secured Party, and municipal or financial advisor shall enter into a non-disclosure <br /> agreement regarding the use and confidentiality of such information. The Grantor <br /> shall pay all costs associated with any analysis undertaken by the Secured Party's <br /> municipal or financial advisor and all costs and attorneys fees with respect to the <br /> drafting and negotiation of any non-disclosure agreement. <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 /> 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 /> 3 <br /> 491715v1 EL185-46 <br />