Common use of Borrower's Existence Clause in Contracts

Borrower's Existence. Each Borrower shall at all times (a) preserve and maintain its existence and good standing in the jurisdiction of its organization, (b) preserve and maintain its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect), and (c) continue as a going concern in the business which such Borrower is presently conducting. If any Borrower does not have an Organizational Identification Number and later obtains one, such Borrower shall promptly notify the Bank of such Organizational Identification Number. No Borrower shall form or otherwise acquire a new Subsidiary without the prior written consent of the Bank.

Borrower's Existence. Each Borrower shall at all times preserve and maintain its (a) preserve and maintain its existence and good standing in the jurisdiction of its organization, and (b) preserve and maintain its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect), and (c) shall at all times continue as a going concern in the business which such Borrower is presently conducting. If any Borrower does not have an Organizational Identification Number and later obtains one, such Borrower shall promptly notify the Bank Lender of such Organizational Identification Number. No Borrower shall form or otherwise acquire a new Subsidiary without the prior written consent of the Bank.

Borrower's Existence. Each Borrower of the Borrowers shall at all times (a) preserve and maintain its existence and good standing in the jurisdiction of its organization, (b) preserve and maintain its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect), and (c) continue as a going concern in the business which such Borrower is presently conducting. If any Borrower does not have an Organizational Identification Number and later obtains one, such Borrower the Borrowers shall promptly notify the Bank of such Organizational Identification Number. No Borrower shall form or otherwise acquire a new Subsidiary without the prior written consent of the Bank.