Common use of Continued Existence; Organizational Documents Clause in Contracts

Continued Existence; Organizational Documents. IP Holdings and Management Corporation ("IPHM") shall keep in full effect its existence, rights and franchises as a special purpose corporation under the laws of the State of Delaware, shall operate in accordance with, and subject to the limitations set forth in, its Organizational Documents and shall obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which the failure to be so qualified shall have a material adverse effect on IPHM.

Continued Existence; Organizational Documents. IP Holdings and Management Corporation ("“IPHM"”) shall keep in full effect its existence, rights and franchises as a special purpose corporation under the laws of the State of Delaware, shall operate in accordance with, and subject to the limitations set forth in, its Organizational Documents and shall obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which the failure to be so qualified shall have a material adverse effect on IPHM.