Common use of Existence of Issuer Clause in Contracts

Existence of Issuer. The Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights and franchises; provided, however, that the Issuer shall not be required to preserve the existence of the Issuer or any such right or franchise if the Board of Trustees of the Issuer shall determine that the failure to preserve such existence, right or franchise is not disadvantageous in any material respect to the Holders of Notes and in the case of such right or franchise, is no longer desirable in the conduct of the business of the Issuer.

Existence of Issuer. The Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights and franchises; provided, however, that the Issuer shall not be required to preserve the existence of the Issuer or any such right or franchise if the Board of Trustees of the Issuer -50- 57 shall determine that the failure to preserve such existence, right or franchise is not disadvantageous in any material respect to the Holders of Notes and in the case of such right or franchise, is no longer desirable in the conduct of the business of the Issuer.

Existence of Issuer. The Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights and franchises; provided, however, that the Issuer shall not be required to preserve the existence of the Issuer or any such right or franchise if the Board of Trustees of the Issuer -50- 58 Trustee, so that there shall determine that the failure to preserve such existence, right or franchise is not disadvantageous in any material respect to the Holders of Notes and in the case of such right or franchise, is no longer desirable in the conduct of the business of the Issuerat all times be a Trustee hereunder.