Common use of Corporate Existence; Subsidiaries Clause in Contracts

Corporate Existence; Subsidiaries. The Borrower shall, and shall cause each of its Subsidiaries to, preserve and maintain its corporate existence, subject to the provisions of Section 7.12 hereof. As a condition to establishing or acquiring any Subsidiary, the Borrower shall (i) cause such Subsidiary to execute and deliver to the Agent a Guaranty Agreement and Collateral Documents, (ii) deliver documentation similar to that described in Section 6.1(c) and (d) relating to the authorization for, execution and delivery of, and validity of such Subsidiary's obligations under the Guaranty Agreement and Collateral Documents, in form and substance satisfactory to the Required Banks and (iv) deliver an updated Schedule 5.2 to reflect the new Subsidiary; provided that neither Atchison Casting U.K. Ltd. nor any of its Subsidiaries need to execute a Guaranty Agreement.

Corporate Existence; Subsidiaries. The Borrower shall, and shall cause each of its Subsidiaries to, preserve and maintain its corporate existence, subject to the provisions of Section 7.12 hereof. As a condition to establishing or acquiring any Subsidiary, the Borrower shall (i) cause such Subsidiary to execute and deliver to the Agent a Guaranty Agreement and Collateral DocumentsAgreement, (ii) deliver documentation similar to that described in Section 6.1(c) and (d) relating to the authorization for, execution and delivery of, and validity of such Subsidiary's obligations under the Guaranty Agreement and Collateral DocumentsAgreement, in form and substance satisfactory to the Required Banks and (iv) deliver an updated Schedule 5.2 to reflect the new Subsidiary; provided that neither Atchison Casting U.K. Ltd. nor any of its Subsidiaries Sheffield Forgemasters Group, plc need to not execute a Guaranty Agreement.