貸款合同書英文版

貸款合同書（英文版）歡迎借鑒與參考文章《貸款書(英文版)》，請看下文的詳細內(nèi)容。ThisLOANAGREEMENT,datedasofthelaterofthetwosignaturedatesbelow,ismadebyandamongAAACORPORATION("AAA"),a_________(PLACENAME)Corporation,_________(address)("Lender"),andBBBCORPORATION("BBB"),a_________(PLACENAME)corporation,_________(address)("Borrower").RECITALSA.Borrowerdevelopsandmarketscomputersoftwareproducts,includingwithoutlimitationa"searchengine"softwareforsearchingandindexinginformationaccessiblethroughtheInternet.B.Lenderdevelops,manufactures,distributesandmarketscomputersoftwareproductsandservices.C.BorrowerandLenderdesiretoenterintoabusinessrelationshippursuanttowhich,amongotherthings,(i)Borrowerwould(a)developsoftwareforLendertoimplementdesiredfeaturesforaLendersearchengine,(b)providesearchresultsforLenderusingBorrower'ssearchenginecustomizedwith,amongotherelements,thefeaturesdevelopedforLender,(c)providesoftwarehostingandmaintenanceservicesforLender'sbenefit,and(d)purchaseadditionalhardwareandsoftwarenecessaryordesirabletoserviceLender'sneeds,and(ii)LenderwouldmakecertainpaymentstoBorrower,andprovideloanstoBorrowertofacilitateBorrower'spurchaseofadditionalhardwareandsoftwarenecessaryordesirabletoserviceLender'sneeds.D.ThisLoanAgreementandaSecurityAgreementbetweenthepartiesofevendate,areintendedtosetforththetermsandconditionsapplicabletotheloanaspectsofsuchbusinessrelationship.NOWTHEREFORE,forandinconsiderationofthemutualcovenantsandconditionssetforthherein,thepartiesagreeasfollows:AGREEMENTS1.LoantoBorrower.PursuanttothetermsandconditionsofthatcertainSoftwareHostingAgreementbetweenBorrowerandLenderofevendateherewith(the"HostingAgreement"),Borrowermayberequired,afterconsultationwithandapprovalbyLender,topurchaseadditionalHostingServers,asthattermisdefinedintheHostingAgreement.SubjecttothetermsandconditionsofthisAgreement,Lendershallfromtimetotimemakeadvances("Advances")toBorrowerduringtheperiodfromthedatehereofuntiltheterminationofthisAgreement.InnoeventshallLenderhaveanyobligationtomakeAdvancestoBorrowerfollowingtheoccurrenceofanyEventofDefaultasdefinedinsection11ofthisAgreement.A.Advances.AdvancesshallbemadeonlyinamountsseparatelyagreedbetweenLenderandBorrowertobesufficienttopurchasetheadditionalHostingServersrequiredbyLender.EachsuchAdvanceshallbeevidencedbyapromissorynote(the"PromissoryNote")withatermof[*]([*])[*]insubstantiallytheformofthesamplenoteattachedheretoasExhibitA.ThetermsofallsuchPromissoryNotesarebythisreferenceincorporatedinthisAgreement.TheproceedsofeachAdvanceshallonlybeusedbyBorrowertopurchasetheadditionalHostingServersforwhichthatAdvanceismade.B.PersonsAuthorized.LenderisherebyauthorizedbyBorrowertomakeAdvancesonlyuponthewrittenrequests(includingrequestsmadebytelex,telegraphorfacsimile),ofanyoneofthefollowingpersons(the"ResponsibleOfficers"andeacha"ResponsibleOfficer"):DavePeterschmidt,JerryKennellyandRandyGottfried;eachofwhomisandshallbeauthorizedtorequestAdvancesanddirectthedispositionofanyAdvanceuntilwrittennoticebyBorroweroftherevocationofsuchauthorityisreceivedbyLender.AnyAdvanceshallbeconclusivelypresumedtohavebeenmadetoorforthebenefitofBorrowerwhenmadeinaccordancewithsucharequest.RequestsforAdvancesshallbeontheBorrowingNoticeformattachedheretoasExhibitB.AnysuchBorrowingNoticeshallbedirectedtothefollowingLenderrepresentative(orsuchotherpersonasLendermaydirectfromtimetotime)forapprovalpriortodisbursement:ShirishNadkarni.C.AssumptionofRisk.ItisimportanttoBorrowerthatBorrowerhavetheprivilegeofmakingrequestsforAdvancesbyemail,telex,telegraphorfacsimile.Therefore,toinduceLendertolendfundsinresponsetosuchrequests,andinconsiderationforLender'sagreementtoreceiveandconsidersuchrequests,BORROWERASSUMESALLRISKOFTHEVALIDITY,AUTHENTICITYANDAUTHORIZATIONOFSUCHREQUESTS,WHETHERORNOTTHEINDIVIDUALMAKINGSUCHREQUESTHASAUTHORITYINFACTTOREQUESTADVANCESONBEHALFOFBORROWER.UNLESSANUNAUTHORIZEDORINVALIDADVANCEISMADEASARESULTOFGROSSNEGLIGENCEONTHEPARTOFLENDER,LENDERSHALLNOTBERESPONSIBLE,UNDERPRINCIPLESOFCONTRACT,TORTOROTHERWISE,FORANYLOSSSUSTAINEDBYBORROWERRESULTINGFROMANYUNAUTHORIZEDORINVALIDADVANCE,INCLUDING,BUTNOTLIMITEDTO,THEAMOUNTOFANYADVANCE.Borroweragreestorepayanysums,withinterestasprovidedherein,thatLendersoadvances.BorroweragreestogiveLenderpromptwrittenconfirmationofallemail,telex,telegraphorfacsimilerequestsforAdvances;butBorrower'sfailuretodoso,orthefailureofsuchconfirmationtoreachLender,shallnotaffectBorrower'sassumptionoftheriskwithrespecttosuchAdvanceorreduceinanywaytheobligationofBorrowertorepaywithinterestallamountstheretoforeorthereafteradvancedbyLenderpursuantthereto.D.RequestforAdvance.EachrequestforanAdvanceshallsetforththeamountofsuchAdvanceandthedatesuchAdvanceistobemade,suchrequesttobereceivedbyLenderby9:30a.m.,_________(PLACENAME),WA,USAtimeten(10)fullbusinessdaysbeforesuchAdvanceistobemade.AnyproposedAdvanceshallbemadeandeffectedonlyonabusinessdayandmaybedisbursedonlyafteraseparatePromissoryNoteforsuchAdvanceisproperlyexecutedbyBorrower,anddeliveredtoandacceptedbyLender.IfthedateoftheproposedAdvanceisnotabusinessday,suchAdvanceshallbeeffectedonthenextsucceedingbusinessday.EachrequestforanAdvanceshallbeirrevocableandbindingonBorrower.E.DisbursementofAdvances.AdvancesmadeandeffectedbyLendershallbedisbursedbywiretransferinimmediatelyavailablefundstothedepositoryaccountsetforthinExhibitEhereto,orsuchotheraccountasBorrowermaydesignatefromtimetotimebywrittennoticetoLendersignedbyaResponsibleOfficer.2.TermandTermination.ThisAgreementshallterminateupontheterminationoftheHostingAgreement("MaturityDate");providedthatallrightsandremediestowhichLenderisentitledunderthisAgreementandatlawshallsurviveanysuchterminationoftheAgreementuntilallamountsadvancedorotherwisedueLenderunderthisAgreementhavebeenrepaidorotherwisesatisfiedaccordingtothetermsofthisAgreement.3.Interest.TheoutstandingprincipalbalanceoftheLoanshallbearinterestatthelowestappropriateapplicablefederalrate,asdeterminedbyAAA,wheneachPromissoryNote(ortheNewNotedescribedinsection4)isissued.Allcomputationsofinterestshallbebasedona360dayyearfortheactualnumberofdayspassed.4.PaymentofPrincipalandInterest.A.MonthlyPayments.PaymentofprincipalandinterestforeachAdvanceshallbemadeinimmediatelyavailablefunds,by10:00a.m.,_________(PLACENAME)time,atsuchlocationdesignatedbyLenderortheholderoftheapplicablePromissoryNote,onthedateeachpaymentisdueasprovidedinthePromissoryNote.ThepaymentsofprincipalandinterestshallbeseparatelycalculatedforeachAdvanceandshallbepayableinimmediatelyavailablefundsonthefirstbusinessdayofeachmonthuntilpaidinfull.EachinstallmentpaymentshallbeinanamountsufficienttocausetheprincipalbalanceofeachAdvancetoberepaidwithinthreeyears.Notwithstandingtheforegoing,anyamountsaccruedbutnotpaidatthetimeofterminationofthisAgreementshallbepayableorotherwisesatisfiedinaccordancewiththefollowingsubsections.B.RolloverorAcceleration.UponexpirationorterminationofthisAgreement:(i)IfthisAgreementisterminatedduetothemutualagreementoftheparties,duetoterminationoftheHostingAgreementbyLenderpursuanttosection10.2oftheHostingAgreement,orduetoterminationoftheHostingAgreementbyBorrowerpursuanttosection10.1oftheHostingAgreement,thenimmediatelypriortotheeffectivedateofsuchterminationLendershallcancelalloutstandingPromissoryNotesandBorrowershallsimultaneouslyexecuteanewpromissorynote("NewNote")foralloutstandingprincipal,interestandotheramountsundersuchPromissoryNotesowedorowingtoLenderbyBorroweronthatdate,insubstantiallytheformattachedasExhibitCsatisfyingandreplacingalloutstandingAdvancesandotheramountsdueunderthisAgreement.ANewNoteissuedpursuanttothissubsectionshallcarrythesameinterestrateandbesubjecttothesametermsandconditionsasallAdvancesunderthisAgreement,exceptthatthetermoftheNewNoteshallbetwo(2)years,andeachinstallmentpaymentshallbeinanamountsufficienttocausetheprincipalbalanceoftheNewNotetoberepaidwithintwo(2)years.InstallmentpaymentsfortheNewNoteshallbemadeinimmediatelyavailablefunds,by10:00a.m.,_________(PLACENAME)time,atsuchlocationdesignatedbyLenderortheholderoftheNewNote,onthedateeachpaymentisdueasprovidedintheNewNote.PriortoexecutionoftheNewNote,BorrowershallsatisfyallconditionsprecedentandmakeallrepresentationsandwarrantiesrequiredforAdvancesunderthisAgreement.(ii)IfterminationofthisAgreementisduetoanyotherreason(otherthanduetoamaterialbreachofthisAgreementortheHostingAgreementbyLender),suchterminationshallbeconsideredanEventofDefaultandsubjecttoanyandallremediesavailabletoLenderforanEventofDefaultasprovidedinsection12ofthisAgreement.C.Prepayment.BorrowermayprepayeachAdvanceinwholeorinpart,atanytimewithoutpenalty.AnyrepaymentsoftheamountsdueunderthisLoanAgreementshallbemadeinimmediatelyavailablefundsandshallbeappliedfirstagainstanyamountsowedtoLenderundertheSecurityAgreement,thentothepaymentofpastdueinterestonanyoutstandingAdvance,andanyremainingamountshallreducetheoutstandingprincipalamountofeachAdvance.5.OverduePayments;DefaultRate.IfanyamountdueunderthisAgreementisnotpaidwhenandasdue,suchamountshallbearinterestfromthedatesuchpaymentwasdueuntilandincludingthedatesuchpaymentisreceivedbyLenderatarateperannumequaltoeighteenpercent(18%)perannum(the"DefaultRate"),providedthatinnoeventshalltherateofinterestexceedthatpermittedbyapplicablelaw.6.SecurityfortheLoan.ThisLoanissecuredbyapurchasemoneysecurityinterestintheHostingServerspurchasedbyeachAdvance,pursuanttothetermsofasecurityagreementofevendate("SecurityAgreement").LendershallhaveafirstprioritysecurityinterestinallofthecollateraldescribedintheSecurityAgreement(the"Collateral").7.RepresentationsandWarranties.BorrowerherebyrepresentsandwarrantstoLenderasfollows:A.CorporateExistence.Borrowerisacorporation,dulyorganizedandvalidlyexisting,ingoodstandingunderthelawsofitsstateofincorporation,andisdulyauthorizedandqualifiedunderallapplicablelaws,regulations,ordinancesandordersofpublicauthoritiestocarryonsuchbusinessinanystateorcountywheresuchqualificationisnecessaryandtoownandholdproperty.B.CorporatePower.Borrowerhasfullright,powerandauthoritytoenterintoandperformthisAgreement,eachPromissoryNote,theNewNote,andtheSecurity(collectively,the"Documents"),andtograntalloftherightsgrantedandagreedtobegrantedpursuanttothisAgreementandtheDocuments.C.Authorization.Borrowerhastakenallnecessarycorporateactiontoauthorizetheexecution,deliveryandperformanceofthisAgreementandtheotherDocuments,includingbutnotlimitedto,allnecessarycorporateactionrequiredbyitsarticlesofincorporationandbylaws.D.NoConflict,ViolationorConsentRequired.Theexecution,deliveryandperformanceof,andthecompliancewiththeprovisionsofeachoftheDocumentsdonotandwillnotviolateanyprovisionofanapplicablelaworanyprovisionofBorrower'sarticlesofincorporationandbylaws,andwillnotconflictwith,requireconsentunderanyprovisionof,resultinanybreachofanyoftheterms,conditionsorprovisionsof,resultinthecreationorimpositionofanylien,chargeorencumbranceuponanyofthepropertiesorassetsofBorrowerpursuanttothetermsof,orconstituteadefaultunderorconflictwith,anyotherindenture,contract,mortgage,deedoftrustorotheragreementorinstrumenttowhichBorrowerisapartyorbywhichBorrowerisbound.BorrowershallnotenterintoothercontractualobligationswhichwillrestrictorimpairitsobligationsunderthisAgreementoranyotherDocument.E.BindingEffect.ThisAgreementconstitutes,andthePromissoryNoteandeachoftheotherDocuments,whenexecutedanddeliveredbyBorrower,willconstitute,validobligationsofBorrowerandarebindingandenforceableagainstBorrowerinaccordancewiththeirrespectiveterms,exceptashereaftermaybelimitedbyapplicablebankruptcy,insolvency,reorganization,orsimilarlawsaffectingtheenforcementofcreditor'srightsandtheavailabilityofspecificperformance.F.FamiliarityWithTerms.Borrowerisfullyfamiliarwithalloftheterms,covenantsandconditionsoftheDocuments.G.LegalProceedings.ExceptasdisclosedonSchedule1attachedhereto,thereisnoaction,suitorproceedingpendingor,totheknowledgeofBorrower,threatened,atlaworinequityorbeforeorbyanyfederal,state,municipalorothergovernmentaldepartment,commission,board,bureau,agencyorinstrumentality,domesticorforeign,thatmightresultinamaterialadversechangeinBorrower'sownershiportitletoanyoftheCollateralorinitsfinancialconditionoroperations.Asusedinthissubsection,thephrase"totheknowledgeofBorrower"shallmeanthecurrentactualknowledgeoftheexecutiveofficersanddirectorsofBorrower.H.NoGovernmentalApprovals.NoregistrationwithorapprovalofanygovernmentalagencyorcommissionisnecessaryforthedueexecutionanddeliveryofanyoftheDocumentsorforthevalidityorenforceabilitythereofwithrespecttoanyobligationofBorrowerhereunderorthereunder,exceptactstobeperformedbyLenderinordertoperfectLender'ssecurityinterestintheCollateral.I.LiensandEncumbrances.BorrowershallkeeptheCollateralpurchasedwitheachAdvancefreeandclearofallliens,claims,encumbrancesandrightsofothersandattherequestofLenderfromtimetotime,shallobtainanagreement,inaformsatisfactorytoLenderinitssolediscretion,fromanyofitsgeneralcreditorsorlienholderstosubordinatetheirinterestsintheCollateraltoLender'sinterestpursuanttothisAgreementandtheSecurityAgreement.J.ComplianceWithLaws.Borrowerhascompliedwithalllaws,regulations,ordinancesandorderswhichaffectinanymaterialrespectitsrighttocarryonitsoperations,performitsobligationsundertheDocumentsormeetitsobligationsintheordinarycourseofbusiness.K.OutstandingDebt.ThereexistsnodefaultundertheprovisionsofanyagreementorinstrumentevidencinganyoutstandingindebtednessofBorrowerand/oritssubsidiariestoanypartyoranymaterialagreementtowhichBorrowerand/oritssubsidiariesiscurrentlyaparty.L.Disclosure.ThisAgreementdoesnotcontainanyuntruestatementofamaterialfactanddoesstateallmaterialfactsnecessaryinordertomakethestatementscontainedhereinnotmisleadinginlightofthecircumstancesunderwhichtheyweremade.Thereis,totheknowledgeofBorrower,nofactthatwouldmateriallyadverselyaffectitsbusiness,prospects,condition,affairsoroperationsoranyofitspropertiesorassets.M.NoConsents.Theexecution,deliveryandfilingoftheSecurityAgreementandanyfinancingstatements,andthecreationofthelien,mortgage,encumbrance,preferenceorsecurityinterestcontemplatedthereby,willnotrequiretheconsentorapprovalofanypersonorentitynotapartytothisAgreement.N.PerfectionofLiensandSecurityInterest.Asofthedatehereof,LenderwillhaveavalidandperfectedfirstprioritylienonandsecurityinterestinalloftheCollateral(whethernowownedorhereafteracquired),whichlienandsecurityinterestwillbeenforceableagainsttheapplicablegrantorthereofandallthirdpartiesandwillsecuretheobligationsstatedtherein.Allfilings,recordationsandotheractionsnecessaryunderanylawstoperfectandprotectsuchliensandsecurityinterestsasfirstpriorityliensandsecurityinterestsintheCollateralhavebeen,orwillontheClosingDatebe,dulytaken.8.AffirmativeCovenants.UntilallamountsowedundertheDocumentshavebeenpaidinfullorotherwisesatisfiedunderthetermsofthisAgreement,Borrower,atitsownexpense,covenantsandagreesatalltimestocomplywiththetermsofthisparagraph8.A.FinancialInformation.(i)BorrowershallfurnishorcausetobefurnishedtoLender,assoonaspracticableandinanyeventwithinfortyfive(45)daysafterthecloseofeachfiscalquarter,thefollowingunauditedfinancialstatementsofBorrowerforeachsuchquarter,allinreasonabledetailandcertifiedbyaResponsibleOfficerofBorrowertobetrueandcorrect:balancesheet,statementofincome,andstatementofcashflows.(ii)BorrowershallfurnishorcausetobefurnishedtoLender,assoonasthesameareavailable,andinanyeventwithinninety(90)daysaftertheendofeachofeachfiscalyearBorrower'sconsolidatedbalancesheet,statementofincomeandastatementofcashflows,allasoftheendofsuchfiscalyear(together,ineachcase,whereapplicable,withthecomparablefiguresforthepriorfiscalyear),allinreasonabledetail.Annualconsolidatedfinancialstatementsshallbepreparedandaudited(withoutanyqualificationorexceptiondeemedmaterialbyLender)inaccordancewithgenerallyacceptedaccountingprinciplesappliedonabasisconsistentlymaintainedthroughouttheperiodinvolved(exceptasdisclosedinthenotestothefinancialstatements)byindependentcertifiedpublicaccountantsofrecognizednationalstandingorotherwisereasonablyacceptabletoLender.(iii)Concurrentlywiththeinformationdescribedin(i)and(ii)above,acertificateofaResponsibleOfficerofBorrowerstatingthattheconsolidatedfinancialstatementsdeliveredtoLenderareproperlystatedandthatthereexistsnoEventofDefault,oreventwhichwithnoticeorlapseoftime,orboth,wouldconstituteanEventofDefault,or,ifanysucheventexists,specifyingthenatureandperiodofexistencethereofandwhatactionBorrowerproposestotakewithrespectthereto.(iv)Borrowershallalsofurnishorcausetobefurnished,fromtimetotime,suchadditionalfinancialandotherinformationasLendermayreasonablyrequestinordertomonitorthefinancialconditionofBorrower.B.NoticeofDefault.ImmediatelyuponobtainingknowledgeoftheoccurrenceofanyeventthatconstitutesanEventofDefault,orthatwithnoticeorlapseoftime,orboth,wouldconstituteanEventofDefault,BorrowershallgivewrittennoticethereoftoLender,togetherwithadetailedstatementofthestepsbeingtakenbyBorrowerstocuresuchevent.C.MaintenanceofExistence.Borrowershallcausetobedoneallthingsnecessarytomaintainandpreservethecorporateexistence,rightsandfranchisesofBorrowerandshallcomplywithallrelatedlawsapplicabletoBorrowerand/oritssubsidiaries.D.PaymentofTaxes.Borrowershallpay,indemnifyandholdLenderharmlessfrom(i)alltaxes,assessmentsandchargeslawfullyleviedorimposedbytheUnitedStates,anystateorlocalgovernment,anytaxingauthorityoranypoliticalorgovernmentalsubdivisionofanyforeigncountryonorwithrespecttotheCollateraloranypartthereof,and(ii)anyotherclaimswhich,ifunpaid,mightbecomebylawalienuponBorrower'sproperty;except,andonlytotheextentthatanysuchtaxes,assessments,chargesorclaimsarebeingcontestedingoodfaith(andforthepaymentofwhichadequatereserveshavebeenprovided)byappropriateproceedingsconducteddiligentlyandingoodfaithsolongassuchproceedingsdonotinvolveamaterialdangerofthesale,forfeitureorlossofalloramaterialportionoftheCollateral.E.MaintenanceofPropertyandLeases.Borrowershallkeepitspropertiesingoodrepairandcondition,reasonablewearandtearexcepted,andfromtimetotimemakeallnecessaryandproperrepairs,renewals,replacements,additionsandimprovementsthereto.Borrowershallatalltimescomplywiththeprovisionsofallleasestowhichitisapartysoastopreventanylossorforfeiturethereoforthereunder.F.Insurance.BorrowershallmaintainwithresponsiblecompaniesreasonablyacceptabletoLenderliabilityinsuranceandinsurancewithrespecttotheCollateralinamountsandcoveringrisksasiscustomaryamongcompaniesengagedinbusinessessimilartothatofBorrower.EachliabilityinsurancepolicymaintainedpursuanttothisparagraphshallnameLenderasadditionalinsured.EachsuchpolicyotherthanliabilitypoliciesshallnameLenderasnamedinsuredandlosspayeeasitsinterestmayappear.ThepartiesagreethatsuchinterestofLendershallbeequaltothetotalofallamountsowedundertheDocumentstoLender.BorrowershallmaintaininsuranceagainstanyotherrisksasiscustomaryamongcompaniesengagedinbusinessessimilartothatofBorrower.Allrequiredinsuranceshall(a)beinformandamountreasonablysatisfactorytoLenderand(b)containaLender'sLossPayableEndorsement.Eachinsurershallagreebyendorsementuponthepoliciesissuedbyit,orbyindependentinstrumentfurnishedtoLender,thatitwillgiveLenderthirty(30)dayswrittennoticebeforethepolicyismateriallyalteredorcanceled.TheproceedsofanypublicliabilitypolicyshallbepayablefirsttoLendertotheextentofitsliability,ifany,andthebalanceshallbepayabletoBorrower.BorrowerherebyirrevocablyappointsLenderasBorrower'sattorneyinfacttomakeclaimfor,receivepaymentof,andexecuteandendorsealldocuments,checksordraftsforlossordamageunderanyinsurancepolicy.G.NoticeofLitigation.BorrowershallpromptlynotifyLenderinwritingoftheinitiationofanylitigationagainstBorrowerthatinBorrower'sgoodfaithjudgmentmightmateriallyandadverselyaffecttheoperations,financialcondition,propertyorbusinessofBorrower.IfanysuitisfiledagainstanyoftheCollateralorifanyoftheCollateralisotherwiseattached,levieduponortakenincustodybyvirtueofanylegalproceedinginanycourt,BorrowershallpromptlynotifyLenderthereofbytelephone,confirmedbyletter,andwithinsixty(60)days(unlessotherwiseconsentedtoinwritingbyLender)causetheCollateraltobereleasedandpromptlynotifyLenderthereofinthemanneraforesaid.H.AccountsandReports.Borrowershallkeeptrueandaccuraterecordsandbooksofaccountinwhichfull,trueandcorrectentriesshallbemadeofalldealingsortransactionsinrelationtoitsbusinessandaffairsinaccordancewithgenerallyacceptedaccountingprinciples.I.ComplianceWithLaws.Borrowershalldulyobserveandconformtoallvalidrequirementsofgovernmentalauthoritiesrelatingtotheconductofitsbusinessortoitspropertyorassets.J.Inspection.BorrowershallpermitLenderoritsdesignatedrepresentative,atallreasonablehoursuponreasonableadvancenotice,tovisitandinspectBorrower'sproperties,offices,facilitiesandtheCollateral,andtoexamineBorrower'sbooksofaccount,solelytomonitorthestatusoftheCollateralandfinancialconditionofBorrower.LenderagreesthatanysuchvisitationorinspectionmaybeescortedandmonitoredbyBorrower.K.FilingandExecutionofDocuments.BorrowershallfromtimetotimedoandperformsuchotherandfurtheractsandexecuteanddeliveranyandallsuchfurtherinstrumentsasmayberequiredbylaworreasonablyrequestedbyLendertoestablish,maintainandprotectLender'ssecurityinterestinanyoftheCollateralasprovidedinthisAgreement.L.Antiforfeiture.BorrowershallnothavecommittedorcommitanyactoromissionaffordingthefederalgovernmentoranystateorlocalgovernmenttherightofforfeitureasagainstthepropertyofBorroweroranypartthereoforanymoneyspaidinperformanceofitsobligationsunderthisAgreement,anyPromissoryNoteorunderanyoftheotherDocuments.Borrowercovenantsandagreesnottocommit,permitorsuffertoexistanyactoromissionaffordingsuchrightofforfeiture.Infurtherancethereof,BorrowerherebyindemnifiesLenderandagreestodefendandholdLenderharmlessfromandagainstanyloss,damageorinjurybyreasonofthebreachofthecovenantsandagreementsorthewarrantiesandrepresentationssetforthintheprecedingsentence.Withoutlimitingthegeneralityoftheforegoing,thefilingofformalchargesorthecommencementofproceedingsagainstBorrower,Lender,oralloranyofthepropertyofanyBorrowerunderanyfederalorstatelawforwhichforfeitureofsuchpropertyoranypartthereoforofanymoneyspaidinperformanceofanyBorrower'sobligationsundertheDocumentsshall,attheelectionofLender,constituteanEventofDefaulthereunderwithoutnoticeoropportunitytocure.M.Meeting.TheResponsibleOfficersofBorrower(andsuchotherofficersandemployeesofBorrowerasLendermayreasonablyrequest)shallmeetatleastonceperyearwithLender'sdesignatedrepresentativestoreviewBorrower'sconsolidatedfinancialstatementsandsuchotherinformationregardingtheoperationofBorrower'sbusinessasmaybereasonablyrequestedbyLendertomonitorthefinancialconditionofBorrowerandstatusoftheCollateral.9.NegativeCovenants.UntilallamountsowedunderthisAgreement,thePromissoryNoteandtheotherDocumentshavebeenpaidinfullorotherwisesatisfiedunderthetermsofthisAgreement,Borrower,withoutthepriorwrittenconsentofLender,covenantsandagreesthatitshallnotsellalloranyportionofthe