Common use of Corporate, Partnership or Limited Liability Company Existence Clause in Contracts

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 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 Hxxxx Energy Partners and each of its Subsidiaries; provided, however, that Xxxxx Hxxxx 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 Hxxxx 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.