Common use of Business Qualification Clause in Contracts

Business Qualification. Nothing in this Security Agreement shall be deemed to impose on the Collateral Agent any duty to qualify to do business in any jurisdiction, other than (i) any jurisdiction where any Collateral documents are or may be held by the Collateral Agent from time to time hereunder, and (ii) any jurisdiction where its ownership of property or conduct of business requires such qualification and where failure to qualify could have a material adverse effect on the Collateral Agent or its property or business or on the ability of the Collateral Agent to perform it duties hereunder.

Business Qualification. Nothing in this Security Agreement shall be deemed to impose on the Collateral Agent any duty to qualify to do business in any jurisdiction, other than (i) any jurisdiction where any Collateral documents are or may be held by the Collateral Agent from time to - 18 - <PAGE> time hereunder, and (ii) any jurisdiction where its ownership of property or conduct of business requires such qualification and where failure to qualify could have a material adverse effect on the Collateral Agent or its property or business or on the ability of the Collateral Agent to perform it duties hereunder.