2025-09-01-R - Laserfiche WebLink

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ARTICLE V NEGATIVE COVENANTS The Borrower covenants and agrees that so long as this Agreement shall remain in effect or the Note shall not have been paid in full,and unless the Lender shall otherwise consent in writing in advance: Section 5.1 Legislative and Political Uses of Loan Proceeds. The Borrower shall not use any proceeds of the Loan for any of the purposes described in Section 170(c)(2)(D)of the Code,except as permitted by U.S.Treasury Regulations. The Borrower shall not use any proceeds of the Loan to carry on propaganda or otherwise to attempt to influence legislation(within the meaning of Section 4945(d)(1)of the Code),or to influence the outcome of any specific public election,or to carry on,directly or indirectly,any voter registration drive(within the meaning of Section 4945(dx2)of the Code). Section 5.2 No Material Change. The Borrower shall not make any material change in the nature of its activities as presently conducted that would adversely affect the Borrower's ability to perform under the Loan Documents. Furthermore,the Borrower shall not conduct its activities in a manner that materially departs from the representations made in the documents submitted by Borrower to the Lender in connection with Borrower's request for the Loan. Section 5.3 Governing Document Amendments. The Borrower shall not amend its charter or laws or regulations in any manner that would cause the Borrower to be in violation of any provision of the Loan Documents or which would jeopardize the ability of the Borrower to perform its obligations under the Loan Documents. ARTICLE VI DEFAULT AND REMEDIES Section 6.1 Events of Default. The Borrower shall be deemed to be in default under this Agreement upon the occurrence of any of the following events (each of which is herein sometimes called an"Event of Default"): (a) The Borrower fails to make any payment that is due and payable hereunder or under the Note, and such failure continues unremedied for five (5) days after notice to the Borrower; (b) The Borrower uses any portion of the proceeds of the Loan for a purpose or in a manner other than as specifically authorized by this Agreement; (c) Any material representation or warranty made in the Loan Documents,or in any report, certificate, financial statement, or instrument furnished in connection with this Agreement or the Loan,shall prove to have been false or misleading when made,in any material respect; (d) The Borrower violates or fails to observe or perform any covenant contained in Sections 4.1 or 4_4 or Article V hereof; 9