Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a government-owned business within CDOT, as an “enterprise” for purposes of section 20 article X of the State constitution, and under FASTER and the other laws of the State, unless at or prior to the time the Borrower ceases to exist in such form a successor public agency or governing body has been created by the State pursuant to a valid and unchallenged State law with the same rights and privileges as the Borrower had as of the Effective Date and has succeeded to the assets of the Borrower and has assumed all of the obligations of the Borrower under the TIFIA Loan Documents and the Indenture Documents, including the payment of all Secured Obligations.
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a public agency and regional transit authority under Chapter 81.112 RCW and Chapter 81.104 RCW or any successor provisions under the laws of the State;
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a [______], unless at or prior to the time the Borrower ceases to exist in such form a successor public agency or governing body has been created by the State pursuant to a valid and unchallenged State law and has succeeded to the assets of the Borrower and has assumed all of the obligations of the Borrower under the TIFIA Loan Documents and the Indenture Documents, including the payment of all Secured Obligations.
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a public agency and regional transit authority under Chapter 81.112 RCW and Chapter 81.104 RCW or any successor provisions under the laws of the State, unless at or prior to the time the Borrower ceases to exist in such form a successor public agency or governing body has been created by the State pursuant to a valid and unchallenged State law and has succeeded to the assets of the Borrower and has assumed all of the obligations of the Borrower under the TIFIA Loan Documents and the Bond Documents, including the payment of all obligations in respect of the Bonds.
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a [ ] under the laws of [ ];
Failure to Maintain Existence. The Borrower shall fail to(viii) maintain its existence as a public agency and regional transit authority under Chapter 81.112 RCW and Chapter 81.104 RCW or any successor provisions under the laws of the State; Occurrence of a Bankruptcy Related Event. A Bankruptcy(ix) Related Event shall occur with respect to (A) the Borrower or (B) a Principal Project Party; provided, that, (1) a Bankruptcy Related Event in connection with a Principal Project Party shall not constitute an Event of Default if the Borrower shall have promptly provided evidence satisfactory to the TIFIA Lender demonstrating that anya substitute Principal Project Party has sufficient financial resources and operating expertise to complete the Principal Project Contract to which such Principal Project Party was a party in accordance with the Construction Schedule, and (2) after Substantial Completion shall have occurred, the occurrence of a Bankruptcy Related Event in connection with any Principal Project Party shall not constitute an Event of Default if at the time of such occurrence, (I) no claim against any warranty under the applicable Principal Project Contract to which such Principal Project Party is a party exists or remains outstanding, or (II) the Borrower promptly provides evidence satisfactory to the TIFIA Lender showing that the Borrower has (x) sufficient moneys to correct any defect or nonconforming work of such Principal Project Party, and (y) a plan to carry out such works referred to in clause (x) hereof;
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a special purpose district under the laws of the State, unless at or prior to the time the Borrower ceases to exist in such form a successor public agency or governing body has been created by the State pursuant to a valid and unchallenged State law and has succeeded to the assets of the Borrower and has assumed all of the obligations of the Borrower under the TIFIA Loan Documents and the Other Financing Documents, including the payment of all Secured Obligations.
Failure to Maintain Existence. The Borrower shall fail to exist as a public body politic and corporate under the laws of the State and the District of Columbia with the consent of the Congress of the United States of America or its Organizational Documents shall be amended, modified or repealed in any manner that could reasonably be expected to result in a Material Adverse Effect;
Failure to Maintain Existence. The Borrower shall fail to maintain its existence as a government-owned business within CDOT under FASTER and the other laws of the State;
Failure to Maintain Existence. (A) The Borrower shall be in breach of its obligations under Section 16(l).
