Common use of Existence of Designated Subsidiaries Clause in Contracts

Existence of Designated Subsidiaries. the Borrower shall, subject to Section 8.2(b), cause each Designated Subsidiary which is a corporation to maintain its corporate existence and cause each Designated Subsidiary which is a partnership to maintain its partnership existence and cause each Designated Subsidiary which is a trust to maintain its existence as a trust, each in good standing under the laws of the jurisdiction of incorporation or creation, as the case may be, and shall cause each to register and qualify and remain registered and qualified as an extra provincial corporation, partnership or trust, as the case may be, authorized to carry on business under the laws of each jurisdiction in which the nature of any business transacted by it or the character of any properties and assets owned or leased by it requires such registration and qualification except to the extent failure to register or qualify would not reasonably be expected to have a Material Adverse Effect;

Existence of Designated Subsidiaries. the Borrower shall, subject to Section 8.2(b), shall cause each Designated Subsidiary which is a corporation to maintain its corporate existence and shall cause each Designated Subsidiary which is a partnership to maintain its partnership existence and shall cause each Designated Subsidiary which is a trust to maintain its existence as a trust, each in good standing under the laws of the jurisdiction of incorporation or creation, as the case may be, and shall cause each to register and qualify and remain registered and qualified as an extra provincial corporation, partnership or trust, as the case may be, authorized to carry on business under the laws of each jurisdiction in which the nature of any business transacted by it or the character of any properties and assets owned or leased by it requires such registration and qualification except to the extent failure to register or qualify would not reasonably be expected to have a Material Adverse Effect;