Common use of Entity Existence Clause in Contracts

Entity Existence. The Issuer represents and agrees that it will do or cause to be done all things necessary and within its control to preserve and keep in full force and effect the existence, rights (contractual and statutory) and franchises of the Issuer. The Issuer represents that neither it nor the Underlying Borrowers or the owners of the Underlying Properties are in default in the payment of any taxes levied or assessed against any of the Underlying Collateral or Underlying Properties under any applicable statute, rule, order or regulation of any governmental authority, under the Notes, this Indenture or any of the other Security Documents to which the Issuer is a party or under any other agreement to which the Issuer is a party or by which the Issuer or the Underlying Collateral is bound.