Common use of Corporate Separateness Clause in Contracts

Corporate Separateness. (a) Each Loan Party shall satisfy, and cause each of its Subsidiaries (including Unrestricted Subsidiaries) to satisfy, customary corporate and other formalities, including, as applicable, the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, in each case, to the extent required by law and the maintenance of corporate offices and records.

Appears in 8 contracts

Samples: Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.)

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Corporate Separateness. (a) Each Loan Party shall satisfy, and cause each of its Restricted Subsidiaries (including and Unrestricted Subsidiaries) Subsidiaries to satisfy, customary corporate and other formalities, including, as applicable, the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, in each case, to the extent required by law meeting and the maintenance of corporate offices and records.

Appears in 3 contracts

Samples: Credit Agreement (Michaels Stores Inc), Credit Agreement (Michaels Stores Inc), Credit Agreement (Michaels Stores Inc)

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Corporate Separateness. (a) Each Loan Party shall satisfy, and shall cause each of its Subsidiaries (including Unrestricted Subsidiaries) and the Excluded Entity to satisfy, customary corporate and other formalities, including, as applicable, the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, in each case, to the extent required by law meeting and the maintenance of corporate offices and records.

Appears in 1 contract

Samples: Credit Agreement (Trans World Entertainment Corp)

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