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2015-677-E ED - Master Peace barber Shop Loan and Security Agreement
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2015-677-E ED - Master Peace barber Shop Loan and Security Agreement
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Last modified
12/18/2019 4:48:52 PM
Creation date
12/19/2018 10:54:45 AM
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Template:
Contract
Date
4/13/2015
Contract Starting Date
4/13/2015
Contract Document Type
Agreement
Amount
$15,000.00
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DocuSign Envelope ID:56COB206-26C6-403B-9D33-D169069A82E4 <br /> LOAN AND SECURITY AGREEMENT <br /> 12.6 Pay promptly when due all ad valorem taxes and assessments upon the Collateral; <br /> 12.7 Upon the Company's request, deposit with Company additional Collateral to <br /> Company's satisfaction; <br /> 12.8 That Collateral will not be changed, transferred, or otherwise disposed of or be <br /> subjected to any unpaid charge, unless the Company consents in advance in writing <br /> to such change, transfer, or charge. <br /> 12.9 Upon the Company's request, provide a list of buyer, commission merchants and <br /> selling agents to or through whom the Borrower intends to sell the products granted <br /> as Collateral; <br /> 12.10 Keep proper books of account in a manner satisfactory to the Company; <br /> 12.11 Submit an annual financial statement reviewed or compiled by an independent <br /> public accountant within sixty (60) days of the close of the Borrower's fiscal year for <br /> the Business; <br /> 12.12 Submit a copy of its annual tax return to the Company within one month of filing. <br /> The Borrower hereby authorizes all federal, state and municipal authorities to furnish <br /> reports of examinations, records, and other information relating to the condition and <br /> affairs of the business and any desired information from reports, returns, files, and <br /> records of such authorities upon request therefore by the company; <br /> 12.13 Keep and maintain books, records, and other documents relating directly to the <br /> receipt and disbursement of loan funds and the fulfillment of this Agreement. Each <br /> party agrees that any duly authorized representative of the Company shall at all <br /> reasonable times, have access to and the right to inspect, copy, audit and examine all <br /> of the books, records and other documents relating to the loan and fulfillment of this <br /> Agreement. <br /> 13. The Borrower agrees that it will not do any of the following without the Company's prior <br /> written consent: <br /> 13.1 Effect a change of ownership or control of the Business; <br /> 13.2 Consolidate or merge with any other company, unless the procedures for assignment <br /> and/or assumption are complied with; or <br /> 13.3 At any time the Borrower is in default, give any preferential treatment, make any <br /> advance, directly or indirectly controlling or affiliated with or controlled by the <br /> Page 5 of 9 <br />
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