Other Obligations. The Customer. 4.6.1. Without a prior written consent of the Bank:
Other Obligations. The Customer. Without a prior written consent of the Bank: The Customer, as a legal entity or other organizational formation which is not a legal entity, shall not allow for the change of main sphere of activities, reorganization (transformation, merger, split) or liquidation; Shall not allow use of his/her/its assets/property or its/their part as a collateral and/or other encumbrance in favor of any Third party which will pose threat to the fulfillment of conditions of the Agreement; Shall not dispose of his/her/its own assets/property (or its/their portion) in any form and/or acquire any Third party’s any assets/property and/or their portion, except the cases when such actions are exercised in the scope of regular activities of the Customer; Shall not make investments, assume any liabilities and/or render expenses, including capital expenditures, except the cases when making such investments and/or expenses or assuming liabilities correspond with the purpose of the Credit and/or other bank products issued under the Agreement, and/or when they are exercised in the scope of regular activities of the Customer; Shall not take any additional balanced or off-balanced credits, loans and/or similar liabilities; The Customer may only issue dividends if the Customer is not in breach of the Agreement and/or any other agreement and/or other covenants related to financial liabilities executed with the Bank, and/or no threat of such breach arises due to issuing dividends; Shall maintain his/her/its financial reporting and financial reporting of its Subsidiaries following the rules and procedures set forth by the effective Legislation and in cases requested by the Bank (a) such reporting shall comply with the International Financial Reporting Standards; and (b) financial reports should be audited by the auditor/audit company acceptable to the Bank; Shall use only the Bank products and/or services, including, shall have/make 100 (one hundred) per cent of money turnovers and balance on bank account(s) only through the Bank; Shall ensure observance of the obligations assumed under the Agreement and/or other conditions. Responsibilities of the Parties The Parties undertake to compensate each other for damage (loss) incurred due to full or partial non-fulfillment or improper fulfillment of the Agreement. Compensation of damage (loss) does not exempt the Parties from fulfillment/payment of liabilities assumed under the Agreement. Furthermore, the Customer shall be held responsible for any...
