Common use of Existence; Franchises; Maintenance of Properties Clause in Contracts

Existence; Franchises; Maintenance of Properties. The Borrower will, and will cause each of its Subsidiaries to, (i) maintain and preserve in full force and effect their respective organizational or corporate existence, except as expressly permitted otherwise by Section 7.1, (ii) obtain, maintain and preserve in full force and effect all other rights, Licenses, franchises, permits, certifications, approvals, authorizations required by Governmental Authorities or the Insurance Regulatory Authority, as the case may be, and necessary to the ownership, occupation or use of their respective properties or the conduct of their respective business, except to the extent the failure to do so would not be reasonably likely to have a Material Adverse Effect, and (iii) keep all material properties in good working order and condition (normal wear and tear excepted) and from time to time make all necessary repairs to and renewals and replacements of such properties, except to the extent that any of such properties are obsolete or are being replaced or where the failure to so comply with this clause (iii) is not reasonably likely to have, individually or in the aggregate, a Material Adverse Effect.

Existence; Franchises; Maintenance of Properties. The Borrower Parent will, and ------------------------------------------------ will cause each of its Subsidiaries to, (i) maintain and preserve in full force and effect their respective organizational its limited liability company or corporate existence, as applicable, except as expressly permitted otherwise by Section 7.1SECTION 8.1, (ii) obtain, maintain and preserve in full force and effect all other rights, Licensesfranchises, franchiseslicenses, permits, certifications, approvals, approvals and authorizations required by Governmental Authorities or the Insurance Regulatory Authority, as the case may be, and necessary to the ownership, occupation or use of their respective its properties or the conduct of their respective its business, except to the extent the failure to do so would could not be reasonably likely expected to have a Material Adverse Effect, and (iii) keep all material properties in good working order and condition (normal wear and tear excepted) and from time to time make all necessary repairs to and renewals and replacements of such properties, except to the extent that any of such properties are obsolete or are being replaced or where the failure to so comply with this clause (iii) is not reasonably likely to have, individually or in the aggregate, a Material Adverse Effectreplaced.