Common use of Business of the Borrower and the Subsidiaries Clause in Contracts

Business of the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, (a) no Subsidiary of the Borrower shall engage at any time in any line of business substantially different from the line of business conducted by the Borrower and its Subsidiaries on the Closing Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar thereto or a reasonable extension, development or expansion thereof or ancillary thereto and (b) with respect to the Borrower, engage in any business, operations or activity, or hold any material property, other than (i) holding Equity Interests of its Subsidiaries, (ii) issuing, selling and redeeming its own Equity Interests, (iii) paying Taxes, (iv) holding partners’ meetings, preparing partnership and similar records and other activities required to maintain its separate partnership or other legal structure, (v) preparing reports to, and preparing and making notices to and filings with, Governmental Authorities and to its holders of Equity Interests or Indebtedness, (vi) receiving, and holding proceeds of, dividends and distributions from the its Subsidiaries and distributing the proceeds thereof to the extent not prohibited by Section 6.06, (vii) as necessary to consummate any Permitted Business Acquisition, (viii) guaranteeing Indebtedness permitted by Section 6.01, and (ix) other activities related or incidental to any of the foregoing.

Business of the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, (a) no Subsidiary of the Borrower shall engage at any time in any line of business substantially different from the line of business conducted by the Borrower and its Subsidiaries on the Closing Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar thereto or a reasonable extension, development or expansion thereof or ancillary thereto and (b) with respect to the Borrower, engage in any business, operations or activity, or hold any material property, other than (i) holding Equity Interests of its Subsidiaries, (ii) issuing, selling and redeeming its own Equity Interests, (iii) paying Taxes, (iv) holding partners’ meetings, preparing Frank’s International Multi-Year Credit Agreement partnership and similar records and other activities required to maintain its separate partnership or other legal structure, (v) preparing reports to, and preparing and making notices to and filings with, Governmental Authorities and to its holders of Equity Interests or Indebtedness, (vi) receiving, and holding proceeds of, dividends and distributions from the its Subsidiaries and distributing the proceeds thereof to the extent not prohibited by Section 6.06, (vii) as necessary to consummate any Permitted Business Acquisition, (viii) guaranteeing Indebtedness permitted by Section 6.01, and (ix) other activities related or incidental to any of the foregoing.