Corporate, Partnership or Limited Liability Company Existence. Subject to Article X, the Issuers shall do or cause to be done all things necessary to preserve and keep in full force and effect the corporate, partnership or limited liability company existence and related rights and franchises (charges and statutory) of Xxxxx Energy Partners and each of its Subsidiaries; provided, however, that Xxxxx Energy Partners shall not be required to preserve any such right or franchise for the corporate, partnership or limited liability company existence of any such Subsidiary if the management of the General Partner or its general partner, as appropriate, shall determine that the preservation thereof is no longer desirable in the conduct of the business of Xxxxx Energy Partners and its Subsidiaries as a whole and that the loss thereof is not disadvantageous in any material respect to the Holders; and provided, further, however, that the foregoing shall not prohibit a sale, transfer or conveyance of a Subsidiary of or any of its assets in compliance with the terms of the Indenture.
Corporate, Partnership or Limited Liability Company Existence. Subject to Article 10, the Partnership shall do or cause to be done all things necessary to preserve and keep in full force and effect the corporate existence and related rights and franchises (charges and statutory) of the Partnership and each of its Subsidiaries; provided, however, that the Partnership shall not be required to preserve any such right or franchise for the corporate, partnership or limited liability company existence of any such Subsidiary if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Partnership and its Subsidiaries as a whole and that the loss thereof would not reasonably be expected to have a material adverse effect on the ability of the Partnership or any obligor on the Debt Securities of any series to perform their obligations hereunder; and provided, further, however, that the foregoing shall not prohibit a sale, transfer or conveyance of a Subsidiary of the Partnership or any of its assets in compliance with the terms of this Indenture.
Corporate, Partnership or Limited Liability Company Existence. Subject to Article X, the Issuers shall do or cause to be done all things necessary to preserve and keep in full force and effect their existence and all rights (charter and statutory) and franchises of Xxxxx Energy Partners and each of its Subsidiaries; provided, however, that Xxxxx Energy Partners shall not be required to preserve any such right or franchise if it, determines that the preservation thereof is no longer desirable in the conduct of the business of Xxxxx Energy Partners.
Corporate, Partnership or Limited Liability Company Existence. Subject to Article X, the Issuers shall do or cause to be done all things necessary to preserve and keep in full force and effect the corporate, partnership or limited liability company existence and related rights and franchises (charges and statutory) of the Partnership and each of its Subsidiaries; provided, however, that the Partnership shall not be required to preserve any such right or franchise for the corporate, partnership or limited liability company existence of any such Subsidiary if the management of the General Partner shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Partnership and its Subsidiaries as a whole and that the loss thereof would not reasonably be expected to have a material adverse effect on the ability of the Issuers or any obligor on the Debt Securities of any series to perform their obligations hereunder; and provided, further, however, that the foregoing
Corporate, Partnership or Limited Liability Company Existence. If Guarantor is a corporation, partnership, or limited liability company, Guarantor is duly organized, validly existing and in good standing under the laws of the state of its incorporation or organization, as applicable, and Guarantor is qualified to do business and is in good standing under the laws of the State of California.
