Common use of Corporate Existence and Taxes Clause in Contracts

Corporate Existence and Taxes. Until all of the Common Shares and Warrant Shares have been registered pursuant to an effective Registration Statement, the Company shall maintain its corporate existence in good standing (provided, however, that the foregoing covenant shall not prevent the Company from entering into any merger or corporate reorganization as long as the surviving entity in such transaction, if not the Company, has common stock listed for trading on the Principal Market and shall pay all its taxes when due except for taxes which the Company disputes).

Corporate Existence and Taxes. Until all of the Common Shares and Warrant Shares have been registered pursuant to an effective Registration Statement, the Company shall maintain its corporate existence in good standing (provided, however, that the foregoing covenant shall not prevent the Company from entering into any merger or corporate reorganization as long as the surviving entity in such transaction, if not the Company, has common stock listed for trading on the Principal Market and shall pay all its taxes when due except for taxes which the Company disputes).