Common use of Corporate Existence; Conduct of Business Clause in Contracts

Corporate Existence; Conduct of Business. Subject to Article Eight, the Company will and will cause its Subsidiaries to preserve, renew and keep in full force and effect its corporate existence, and take all reasonable action to maintain all material rights (charter and statutory), privileges and franchises necessary or desirable in the normal conduct of its business; provided, however, that the Company shall not be required to preserve any such rights, privileges or franchises, or the corporate existence of any Subsidiary, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not, and will not be, adverse in any material respect to the Holders of the Securities.