Corporate Existence, Etc. Infinity will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct of the business of Infinity or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 4 contracts
Samples: 364 Day Credit Agreement (Viacom Inc), 364 Day Credit Agreement (Infinity Broadcasting Corp /De/), Credit Agreement (Viacom Inc)
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect), and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 3 contracts
Samples: Credit Agreement (Viacom Inc), Five Year Credit Agreement (Viacom Inc), 364 Day Credit Agreement (Viacom Inc)
Corporate Existence, Etc. Infinity will(a) The Company shall, and will cause each of its Material Subsidiaries toexcept as ------------------------ otherwise permitted under Section 11.4, preserve and maintain its legal existence corporate ------------ existence, and (b) the Company shall, and shall cause each of its active Subsidiaries to: (i) preserve and maintain all of its material rights, privileges and franchises (provided franchises, except to the extent that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 the opinion of the Company preservation and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain maintenance of any such material right, privilege or franchise if are not necessary for the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct operation of the business of Infinity or such Material Subsidiary, as the case may be)Company's business; (ii) comply with the requirements of all applicable lawslaws (including, without limitation, Environmental Laws), rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations governmental or regulatory authorities if failure to comply with such requirements would materially and adversely affect the ability of the Company to perform its obligations under this Agreement, except for any failure to comply with the requirements of any such applicable law, rule, regulation or obligations would reasonably be expected order which is being contested in good faith and by proper actions or proceedings and against which adequate reserves are being maintained to result in a Material Adverse Effectthe extent required under GAAP; (iii) pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper actions or proceedings and against which adequate reserves are being maintainedmaintained to the extent required under GAAP; (iv) maintain all of its Property material properties used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as except to the extent that in the judgment opinion of Infinity or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity or such Material Subsidiary shall not be required to maintain Company any such Property if property is not necessary for the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct operation of the business of Infinity or such Material Subsidiary)Company's business; keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and (v) permit representatives of any LenderLender or the Agent, during normal business hours upon and on reasonable advance notice, to inspect any of examine its books and records and to make copies and extracts therefrom, to inspect its properties (subject to reasonable safety and security procedures of the Company), and to discuss its business and affairs with its Financial Officers officers (subject to any reasonable proprietary and confidentiality agreements of or their designeesbinding upon the Company and its Subsidiaries), all to the extent reasonably requested by such LenderLender or the Agent (as the case may be); and (vi) maintain, with financially sound and reputable insurers, insurance with respect to all property and business of a character usually insured by corporations engaged in the same or similar business similarly situated against such liabilities, casualties, risks and contingencies and in such types and amounts as customary in the case of corporations engaged in the same or similar business similarly situated.
Appears in 3 contracts
Samples: Credit Agreement (Pg&e Gas Transmission Northwest Corp), Credit Agreement (Pg&e Gas Transmission Northwest Corp), 364 Day Credit Agreement (Pg&e Gas Transmission Northwest Corp)
Corporate Existence, Etc. Infinity The Company will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to (i) will in the opinion of the General Counsel of the Company result in a Material Adverse Effectimposition of liability or assessment against (including seizure of) property in an aggregate amount (as to all such failures to comply) exceeding 10% of Consolidated Net Worth or (ii) would in the aggregate (as to all such failures to comply) reduce by more than 25% the annual tonnage capacity of the paper processing operations of the Company and its Consolidated Subsidiaries; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAPAdverse Effect; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
Appears in 2 contracts
Samples: 364 Day Credit Agreement (International Paper Co /New/), Credit Agreement (International Paper Co /New/)
Corporate Existence, Etc. Infinity willThe Company shall, and will shall cause each of its Material Subsidiaries Subsidiary to, : (a) preserve and maintain its legal corporate existence and all of its material rights, privileges and franchises (franchises, provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary the Company shall not be required to preserve or maintain any such right, privilege right or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity the Company and its Subsidiaries as a whole, and provided further that the foregoing shall not prevent the Company from engaging in a merger or such Material Subsidiary, as the case may be)consolidation permitted by Section 8.04 hereof; (b) comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities governmental or regulatory authorities (including, without limitation, all Environmental Laws and all Health Laws) and with all contractual obligations if the failure to comply with such requirements which would have a material adverse effect on the business or obligations would reasonably be expected to result in financial condition of the Company and its Subsidiaries, taken as a Material Adverse Effectwhole; (c) pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintainedmaintained and except that the failure to pay or discharge any such tax, assessment, governmental charge or levy in an amount or amounts which in the aggregate would not have material adverse effect on the business or financial condition of the Company and its Subsidiaries, taken as a whole, shall not be deemed to be a breach of this covenant; (d) maintain all of its Property Principal Properties used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in excepted and except to the judgment of Infinity or such Material Subsidiary may be necessary so extent that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any of such Property is, Principal Properties in good working order and condition would not have a material adverse effect on the judgment of Infinity business or such Material Subsidiary, desirable in the conduct financial condition of the business of Infinity or such Material Subsidiary)Company and its Subsidiaries, taken as a whole; keep (e) maintain proper books and records of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; account and permit representatives of any Lenderthe Agent and each Bank, during normal business hours upon reasonable advance noticehours, to examine and make extracts from its books and records, to inspect any of its books and records properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by the Agent or such LenderBank with reasonable notice; and (f) keep insured by reputable insurers all property of a character usually insured by corporations of similar size engaged in the same or similar business against loss or damage of the kinds and in the amounts customarily insured against by such corporations and carry such other insurance as is usually carried by such corporations.
Appears in 2 contracts
Samples: Loan Agreement (Coca Cola Bottling Co Consolidated /De/), Loan Agreement (Coca Cola Bottling Co Consolidated /De/)
Corporate Existence, Etc. Infinity (a) The Company will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 6.03 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which material penalties attach thereto, except for (i) any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintainedmaintained or (ii) where the failure to so pay, discharge or otherwise satisfy such tax, assessment, charge or levy would not reasonably be expected to result in a Material Adverse Effect; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Company will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
(c) The Company will conduct its business in material compliance with Anti-corruption Laws and Sanctions and will be subject to, and will cause each of its Material Subsidiaries to be subject to, policies and procedures instituted and maintained by the Company designed to promote and achieve compliance with such laws.
Appears in 2 contracts
Samples: Credit Agreement (International Paper Co /New/), Credit Agreement (International Paper Co /New/)
Corporate Existence, Etc. Infinity CBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided provided, that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or CBS Operations) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of CBS, such termination is in the best interests of CBS and such termination would not have a Material Adverse Effect, and (c) CBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity CBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity CBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity CBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided provided, that Infinity CBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity CBS or such Material Subsidiary, desirable in the conduct of the business of Infinity CBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender. CBS will implement and maintain in effect reasonable policies and procedures designed to promote compliance by CBS, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.
Appears in 2 contracts
Samples: Credit Agreement (CBS Corp), Credit Agreement (CBS Corp)
Corporate Existence, Etc. Infinity CBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided provided, that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or CBS Operations) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of CBS, such termination is in the best interests of CBS and such termination would not have a Material Adverse Effect, and (c) CBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity CBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity CBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity CBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided provided, that Infinity CBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity CBS or such Material Subsidiary, desirable in the conduct of the business of Infinity CBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 2 contracts
Samples: Credit Agreement (CBS Corp), Credit Agreement (CBS Corp)
Corporate Existence, Etc. Infinity will, (a) The Company shall and will shall cause each of its Material Subsidiaries to, Subsidiary to (i) preserve and maintain its legal corporate existence and all of its material rights, privileges and franchises franchises, except as otherwise permitted by Section 9.10 hereof; (provided that ii) keep books of record and account in which full, true and correct entries will be made of all dealings or transactions in relation to its business and activities; (aiii) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations governmental or regulatory authorities if failure to comply with such requirements or obligations would reasonably be expected to result in have a Material Adverse Effect; (iv) pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct of the business of Infinity or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and v) permit representatives of any LenderLender or the Administrative Agent, during normal business hours upon reasonable advance prior notice, to inspect any of examine, copy and make extracts from its books and records records, to inspect its Properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent (as the case may be); and (vi) keep insured by financially sound and reputable insurers all property of a character usually insured by corporations engaged in the same or similar business similarly situated against loss or damage of the kinds and in the amounts customarily insured against by such corporations and carry such other insurance as is usually carried by such corporations.
(b) The Company will at its own expense do or cause to be done and will cause each Subsidiary to do or cause to be done all things reasonably necessary to preserve and keep in good repair, working order and efficiency all Properties owned by the Company and each Subsidiary including, without limitation, all equipment, machinery and facilities, and from time to time will make all the reasonably necessary repairs, renewals and replacements so that at all times the state and condition of the Properties owned by the Company and each Subsidiary will be fully preserved and maintained, ordinary wear and tear excepted. The Company will and will cause each Subsidiary to operate their respective Properties or cause or use best efforts to cause such Properties to be operated in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements, except for any non-compliance that would not result in a Material Adverse Effect.
Appears in 2 contracts
Samples: Credit Agreement (Houston Exploration Co), Credit Agreement (Houston Exploration Co)
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Viacom Inc.)
Corporate Existence, Etc. Infinity (a) The Company will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 6.03 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which material penalties attach thereto, except for (i) any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintainedmaintained or (ii) where the failure to so pay, discharge or otherwise satisfy such tax, assessment, charge or levy would not reasonably be expected to result in a Material Adverse Effect; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Company will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
(c) The Company will conduct its business in material compliance with Anti-corruption Laws and Sanctions and will be subject to, and will cause each Borrower to be subject to, policies and procedures instituted and maintained by the Company designed to promote and achieve compliance with such laws.
Appears in 1 contract
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Viacom Inc)
Corporate Existence, Etc. Infinity (a) The Company will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which material penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Company will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
Appears in 1 contract
Corporate Existence, Etc. Infinity Westinghouse will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity Westinghouse or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity Westinghouse or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Westinghouse or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Westinghouse or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Westinghouse or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct of the business of Infinity or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.in
Appears in 1 contract
Corporate Existence, Etc. Infinity CBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or CBS Operations) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of CBS, such termination is in the best interests of CBS and such termination would not have a Material Adverse Effect, and (c) CBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity CBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity CBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity CBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity CBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity CBS or such Material Subsidiary, desirable in the conduct of the business of Infinity CBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Corporate Existence, Etc. Infinity CBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity CBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity CBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity CBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity CBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity CBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity CBS or such Material Subsidiary, desirable in the conduct of the business of Infinity CBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (CBS Corp)
Corporate Existence, Etc. Infinity ViacomCBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower) may be terminated if, in the good faith judgment of the board of directors or the Chief Financial Officer of ViacomCBS, such termination is in the best interests of ViacomCBS and such termination would not have a Material Adverse Effect, and (c) ViacomCBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity ViacomCBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity ViacomCBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity ViacomCBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity ViacomCBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity ViacomCBS or such Material Subsidiary, desirable in the conduct of the business of Infinity ViacomCBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (ViacomCBS Inc.)
Corporate Existence, Etc. Infinity The Company will, and will cause each of its Material Significant Subsidiaries to, : (a) preserve and maintain its legal corporate existence and all of its material rights, privileges privileges, licenses, permits and franchises (provided that (a) nothing in this Section 5.2 8.04 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity 8.06), unless, in the reasonable business judgment of the Company or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that it is in its best economic interest not to preserve and maintain such rights or franchises and such failure to preserve and maintain such rights or franchises could not reasonably be expected to have a material adverse effect on the preservation consolidated financial condition, operations or maintenance thereof is no longer desirable in the conduct business of the business Company and its Subsidiaries, taken as a whole or on the legal, valid, binding or enforceable nature of Infinity the Loan Documents or such Material Subsidiary, as the case may be)ability of the Company to perform its obligations thereunder; (b) comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities Applicable Law (including, without limitation, all Environmental Lawsincluding any Applicable Law relating to any employee benefit plan) and with all contractual obligations if failure to comply with such requirements or obligations would could reasonably be expected to result in have a Material Adverse Effectmaterial adverse effect on the consolidated financial condition, operations or business of the Company and its Subsidiaries, taken as a whole or on the legal, valid, binding or enforceable nature of the Loan Documents or the ability of the Company to perform its obligations thereunder; (c) pay and discharge when due all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach theretoProperty, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all provided that the Company and each of its Property used or useful in its business Subsidiaries shall have the right to pay any such obligation and in good working order faith contest, by proper legal actions or proceedings, the validity or amount of such claims; (d) take all actions, and conditionobtain all authorizations, ordinary wear consents, approvals, licenses and tear exceptedexemptions from or of, make all as in the judgment of Infinity registrations or such Material Subsidiary may be necessary filings with, or reports or notices to, any governmental unit, required so that the business carried on in connection therewith may be properly obligations of the Company and advantageously conducted its Significant Subsidiaries under the Loan Documents will at all times be legal, valid, binding and enforceable in accordance with their respective terms; (provided that Infinity or such Material Subsidiary shall not be required to e) maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct of the business of Infinity or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.material
Appears in 1 contract
Samples: Credit Agreement (Penncorp Financial Group Inc /De/)
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided PROVIDED that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect), and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided PROVIDED that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect), and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c) Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Viacom Inc.)
Corporate Existence, Etc. Infinity Westinghouse will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 5.3 shall prohibit any transaction expressly permitted under Section 5.4 5.5 and (b) Infinity Westinghouse or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity LAW2:13233 62 57 Westinghouse or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Westinghouse or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Westinghouse or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Westinghouse or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Westinghouse or such Material Subsidiary, desirable in the conduct of the business of Infinity Westinghouse or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if NY nv-6billion -credit.htm i failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Corporate Existence, Etc. Infinity The Company will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to (i) will in the opinion of the General Counsel of the Company result in a Material Adverse Effectimposition of liability or assessment against (including seizure of) property in an aggregate amount (as to all such failures to comply) exceeding 10% of Consolidated Net Worth or (ii) could in the aggregate (as to all such failures to comply) reduce by more than 25% the annual tonnage capacity of the paper processing operations of the Company and its Consolidated Subsidiaries; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAPAdverse Effect; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such Lender.Lender or the Administrative Agent. 364-Day Credit Agreement
Appears in 1 contract
Samples: 364 Day Credit Agreement (International Paper Co /New/)
Corporate Existence, Etc. Infinity The Company will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to (i) will in the opinion of the General Counsel of the Company result in a Material Adverse Effectimposition of liability or assessment against (including seizure of) property in an aggregate amount (as to all such failures to comply) exceeding 10% of Consolidated Net Worth or (ii) could in the aggregate (as to all such failures to comply) reduce by more than 25% the annual tonnage capacity of the paper processing operations of the Company and its Consolidated Subsidiaries; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Company or any Subsidiary of the Company may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Company, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAPAdverse Effect; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
Appears in 1 contract
Corporate Existence, Etc. Infinity The Parent will, and will cause each of its Material Subsidiaries to, : preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.6); comply with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to (i) will in the opinion of the General Counsel of the Parent result in a Material Adverse Effectimposition of liability or assessment against (including seizure of) property in an aggregate amount (as to all such failures to comply) exceeding 10% of Consolidated Net Worth or (ii) could in the aggregate (as to all such failures to comply) reduce by more than 25% the annual tonnage capacity of the paper processing operations of the Parent and its Consolidated Subsidiaries; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Parent or any Subsidiary of the Parent may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Parent, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAPAdverse Effect; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
Appears in 1 contract
Corporate Existence, Etc. Infinity CBS will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of CBS, such termination is in the best interests of CBS and such termination would not have a Material Adverse Effect, and (c)CBS or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity CBS or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity CBS or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity CBS or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity CBS or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity CBS or such Material Subsidiary, desirable in the conduct of the business of Infinity CBS or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Viacom Inc)
Corporate Existence, Etc. Infinity will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity or such Material Subsidiary, desirable in the conduct of the business of Infinity or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.to
Appears in 1 contract
Corporate Existence, Etc. Infinity Viacom will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence legax xxxxxxxxx and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (New Viacom Corp.)
Corporate Existence, Etc. Infinity willViacom wxxx, and will xxx xxll cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and 5.4, (b) Infinity the corporate existence of any Subsidiary (other than a Subsidiary Borrower or Viacom International) may be terminated if, in the good faith judgment of the board of directors or the chief financial officer of Viacom, such termination is in the best interests of Viacom and such termination would not have a Material Adverse Effect, and (c)Viacom or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board board of Directors directors of Infinity Viacom or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary, as the case may be); comply with the requirements of all applicable laws, rules, regulations and orders of Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, governmental charges, levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all its Property used or useful in its business in good working order and condition, ordinary wear and tear excepted, all as in the judgment of Infinity Viacom or such Material Subsidiary may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times (provided that Infinity Viacom or such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property is, in the judgment of Infinity Viacom or such Material Subsidiary, desirable in the conduct of the business of Infinity Viacom or such Material Subsidiary); keep proper books of records and accounts in which entries that are full, true and correct in all material respects shall be made in conformity with GAAP; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, to inspect any of its books and records and to discuss its business and affairs with its Financial Officers or their designees, all to the extent reasonably requested by such Lender.
Appears in 1 contract
Samples: Credit Agreement (Viacom Inc)
Corporate Existence, Etc. Infinity (a) The Borrower will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Borrower or any Subsidiary of the Borrower may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Borrower, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Borrower will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
Appears in 1 contract
Corporate Existence, Etc. Infinity (a) The Guarantor will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Guarantor or any Subsidiary of the Guarantor may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Guarantor, desirable in the conduct of the its business of Infinity or such and is not likely to have a Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Guarantor will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
Appears in 1 contract
Corporate Existence, Etc. Infinity (a) The Borrower will, and will cause each of its Material Subsidiaries to, preserve and maintain its legal existence and all of its material rights, privileges and franchises (provided that (a) nothing in this Section 5.2 shall prohibit any transaction expressly permitted under Section 5.4 and (b) Infinity or such Material Subsidiary shall not be required to preserve or maintain any such right, privilege or franchise if the Board of Directors of Infinity or such Material Subsidiary, as the case may be, shall determine that the preservation or maintenance thereof is no longer desirable in the conduct of the business of Infinity or such Material Subsidiary, as the case may be6.06); comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authorities (including, without limitation, all Environmental Laws) and with all contractual obligations Authority if failure to comply with such requirements or obligations would reasonably be expected to result in a Borrower Material Adverse Effect; pay and discharge all material taxes, assessments, assessments and governmental charges, charges or levies or other obligations of whatever nature imposed on it or on its income or profits or on any of its Property property prior to the date on which material penalties attach thereto, except for any such tax, assessment, charge, charge or levy or other obligation the payment of which is being contested in good faith and by proper proceedings and against which adequate reserves are being maintained; maintain all of its Property properties used or useful in its business in good working order and condition, ordinary wear and tear excepted; provided, all as in the judgment of Infinity or such Material Subsidiary may be necessary so however, that the business carried on in connection therewith Borrower or any Subsidiary of the Borrower may be properly and advantageously conducted at all times (provided that Infinity or discontinue the maintenance of a property if such Material Subsidiary shall not be required to maintain any such Property if the failure to maintain any such Property discontinuance is, in the judgment opinion of Infinity or such Material Subsidiarythe Borrower, desirable in the conduct of the its business of Infinity or such and is not likely to have a Borrower Material Subsidiary)Adverse Effect; keep proper books of records record and accounts account in which entries that are full, true made of all dealings and correct transactions in all material respects shall be made in conformity with GAAPrelation to its business and activities; and permit representatives of any Lender, during normal business hours upon reasonable advance notice, permit representatives of any Lender or the Administrative Agent, during normal business hours, to inspect any of examine, copy and make extracts from its books and records records, to inspect its properties, and to discuss its business and affairs with its Financial Officers or their designeesofficers, all to the extent reasonably requested by such LenderLender or the Administrative Agent.
(b) The Borrower will, and will cause each of its Material Subsidiaries to, (a) comply with all applicable Environmental Laws and obtain and comply with all Permits required by applicable Environmental Laws; and (b) conduct and complete all investigations, studies, sampling and testing, and all remedial and other corrective actions as required under any Environmental Laws unless being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect thereto in accordance with GAAP, except in each case where failure to do so would not reasonably be expected to result in a Borrower Material Adverse Effect.
Appears in 1 contract