Good Standing and Government Compliance. Borrower shall maintain its organizational existence and good standing in the Borrower State, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Loan and Security Agreement (IsoPlexis Corp), Loan and Security Agreement (PhenomeX Inc.)
Good Standing and Government Compliance. Borrower shall maintain its, and each of its Subsidiaries’ organizational existence and good standing in the Borrower Stateits respective state or jurisdiction of organization or incorporation, as applicable, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party its Subsidiaries to meet, as applicable, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party Borrower shall ensure that each Canadian Pension Plan and each Subsidiary of each Loan Party Canadian Benefit Plan is administered in a timely manner in all respects in accordance with the applicable pension plan text, funding agreement, the Income Tax Act (Canada) and all other applicable laws. Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party its Subsidiaries to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Loan and Security Agreement (Upland Software, Inc.), Loan and Security Agreement (Upland Software, Inc.)
Good Standing and Government Compliance. Borrower Each Obligor shall maintain its and each of its material Subsidiaries’ organizational existence and good standing (i) in the Borrower Statecase of each Obligor, in its Obligor State and (ii) in the case of any Subsidiary, in the state or other jurisdiction in which Subsidiary is incorporated or formed, and shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary Obligor by the authorities of the jurisdiction in which such Loan Party or Subsidiary Obligor is organized, if applicable. Each Loan Party Borrower and each Parent Guarantor shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans of such Borrower, Parent Guarantor or such Subsidiary subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party Obligor shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower and Parent Guarantors shall comply, and shall cause each Subsidiary of each Loan Party their respective Subsidiaries to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case case, the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Loan and Security Agreement (Max International Inc), Loan and Security Agreement (Max International Inc)
Good Standing and Government Compliance. Borrower shall maintain maintain, and at Bank’s request provide Bank evidence of, its organizational existence and good standing in the Borrower State, shall maintain maintain, and at Bank’s request provide Bank evidence of, qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction state in which Borrower is organized, if applicable. Each Loan Party other than Borrower shall cause each of its Subsidiaries to maintain, and at Bank’s request provide Bank evidence of, each Subsidiary of a Loan Party shall maintain its such Person’s organizational existence and good standing in its jurisdiction state of organization, shall maintain maintain, and at Bank’s request provide Bank evidence of, qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary Person by the authorities of the jurisdiction state in which such Loan Party or Subsidiary Person is organized, if applicable. Each Loan Party Borrower shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law to which it is subject, and shall maintainBorrower shall, and shall cause each of its Subsidiaries to, comply with all statutes, Laws, ordinances and government rules and regulations to maintainwhich such Person is subject, and shall maintain in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 2 contracts
Samples: Loan and Security Agreement (Siebert Financial Corp), Loan and Security Agreement (Siebert Financial Corp)
Good Standing and Government Compliance. Borrower shall maintain its and each Material Subsidiaries’ organizational existence and good standing in the Borrower StateState or in the state of such Material Subsidiary’s organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Material Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower (i) shall comply, and shall cause each Material Subsidiary of each Loan Party to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subjectsubject if the failure to comply therewith would reasonably be expected to have a Material Adverse Effect, and (ii) shall maintain, and shall cause each of its Material Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Good Standing and Government Compliance. Borrower Except as otherwise permitted by clauses (a) and (b) in Section 7.3, each of Borrower, the Parent Guarantors and the other Credit Parties shall maintain its organizational corporate existence and good standing in the Borrower its Credit Party State, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a any Material [†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower it by the authorities of the jurisdiction Credit Party State in which Borrower it is organized, if applicable. Each Loan Party other than of Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party Parent Guarantors shall meet, and shall cause each Subsidiary of each Loan Party the other Credit Parties (other than the Excluded Subsidiaries) to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, except where the failure to meet such requirements has not had and could not reasonably be expected to have any Material Adverse Effect. Each Loan Party of Borrower and the Parent Guarantors shall, and shall cause each Subsidiary of each Loan Party shall the other Credit Parties to, comply in all material respects with all applicable Environmental Laws, Laws and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a any Material Adverse Effect. Each Loan Party shall complyof Borrower and the Parent Guarantors shall, and shall cause each Subsidiary of each Loan Party to complythe other Credit Parties to, comply with all Requirements of Applicable Law to which it is subject, and each of Borrower and the Parent Guarantors shall maintain, and shall cause each of its Subsidiaries the other Credit Parties to maintain, in force all licensesLicenses, approvals and agreements, in each case the loss of which or failure to comply with which would could reasonably be expected to have a any Material Adverse Effect.
Appears in 1 contract
Samples: Loan and Security Agreement (NightHawk Radiology Holdings Inc)
Good Standing and Government Compliance. Borrower shall maintain its organizational and each of its Subsidiaries' corporate existence and good standing in the Borrower Stateits jurisdiction of incorporation, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could would reasonably be expected likely to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction state in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, except where the failure to meet such requirements would not reasonably be expected to have a Material Adverse Effect. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could would have a Material Adverse Effect. Borrower shall comply, in all material respects, and shall cause each Subsidiary to comply, in all material respects, with all statutes, laws, ordinances and government rules and regulations to which it is subject, except where the failure to meet such requirements would not reasonably be expected likely to have a Material Adverse Effect. Each Loan Party shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law to which it is subject, and Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect, or a material adverse effect on the Collateral or the priority of Bank's Lien on the Collateral.
Appears in 1 contract
Good Standing and Government Compliance. Borrower shall maintain its and each of its material Subsidiaries’ organizational existence and good standing (i) in the case of Borrower, in the Borrower StateState and (ii) in the case of any Subsidiary, in the state or other jurisdiction in which Subsidiary is incorporated or formed, and shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans of such Borrower or such Subsidiary subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case case, the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Samples: Loan and Security Agreement (Thayer Ventures Acquisition Corp)
Good Standing and Government Compliance. Each Borrower shall maintain maintain, and at Lender’s request provide Lender evidence of, its organizational existence and good standing in the Borrower State, shall maintain qualification and good standing in each other jurisdiction state in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower it is organized, if applicable. Each Loan Party other than Borrower shall maintain, and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organizationat Lender’s request provide Lender evidence of, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank Lender the organizational identification number issued to such Borrower by the authorities of the state in which such Borrower is organized, if applicable. Each Loan Party other than Borrowers shall maintain, and at Lender’s request provide Lender evidence of, its organizational existence and good standing in its state of organization, shall maintain, and at Lender’s request provide Lender evidence of, qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Lender the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction state in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party shall comply, and shall cause each Subsidiary of each Loan Party to comply, comply with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, maintain in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Good Standing and Government Compliance. Borrower shall maintain in good standing its and each of its Subsidiaries’ organizational existence in their respective jurisdictions of organization and good standing in the Borrower State, shall maintain qualification and good standing in each other jurisdiction in which the failure to conduct of their respective businesses or their respective ownership of property requires that they be so qualify could reasonably be expected to have a Material Adverse Effectqualified, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder except for those jurisdictions where the failure to do be so could qualified would not be reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law to which it is they are subject, and without limiting the foregoing with respect to compliance with all Requirements of Law, Borrower shall remain in material compliance with and each of its Subsidiaries shall remain in material compliance with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the Uniting And Strengthening America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to could have a Material Adverse Effect, or an adverse effect in a material manner on the Collateral or the priority of Bank’s security interest in the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Computer Software Innovations Inc)
Good Standing and Government Compliance. Borrower shall maintain in good standing its and each of its Subsidiaries’ organizational existence in their respective jurisdictions of organization and good standing in the Borrower State, shall maintain qualification and good standing in each other jurisdiction in which the failure to conduct of their respective businesses or their respective ownership of property requires that they be so qualify could reasonably be expected to have a Material Adverse Effectqualified, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder except for those jurisdictions where the failure to do be so could qualified would not be reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law to which it is they are subject, and without limiting the foregoing with respect to compliance with all Requirements of Law, Borrower shall remain in material compliance with, and each of its Subsidiaries shall remain in material compliance with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto; and (ii) the Uniting And Strengthening America By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to could have a Material Adverse Effect, or an adverse effect in a material manner on the Collateral or the priority of Bank’s security interest in the Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Computer Software Innovations Inc)
Good Standing and Government Compliance. Borrower shall maintain its, and each of its organizational Subsidiaries’ limited liability company or corporate, as applicable, existence and good standing in the Borrower Stateits respective state or jurisdiction of organization or incorporation, as applicable, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party its Subsidiaries to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder thereunder, where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party its Subsidiaries to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Samples: Loan and Security Agreement (Rainmaker Systems Inc)
Good Standing and Government Compliance. Each Borrower shall maintain its and each of its Subsidiaries’ organizational existence and good standing in the Borrower Stateits jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Borrower by the authorities of the jurisdiction in which such Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary by the authorities of the jurisdiction in which such Loan Party or Subsidiary is organized, if applicable. Each Loan Party shall meet, and shall cause each Subsidiary of each Loan Party its Subsidiaries to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Each Loan Party Borrower shall ensure that each Canadian Pension Plan and each Subsidiary of each Loan Party Canadian Benefit Plan is administered in a timely manner in all respects in accordance with the applicable pension plan text, funding agreement, the Income Tax Act (Canada) and all other applicable laws. Each Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party its Subsidiaries to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Good Standing and Government Compliance. Borrower shall maintain its and each of its Subsidiaries' corporate or other organizational existence and good corporate standing in the Borrower Staterespective state of its incorporation or organization, as the case may be, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities of the jurisdiction in which Borrower is organized, if applicable. Each Loan Party other than Borrower and each Subsidiary of a Loan Party shall maintain its organizational existence and good standing in its jurisdiction of organization, shall maintain qualification and good standing in each other jurisdiction in which the failure to so qualify could have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to such Loan Party or Subsidiary Borrower by the authorities of the jurisdiction state in which such Loan Party or Subsidiary Borrower is organized, if applicable. Each Loan Party Borrower shall meet, and shall cause each Subsidiary of each Loan Party to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, except where the failure to meet such requirements could not reasonably be expected to have a Material Adverse Effect. Each Loan Party and each Subsidiary of each Loan Party Borrower shall comply in all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so could reasonably be expected to have a Material Adverse Effect. Each Loan Party Borrower shall comply, and shall cause each Subsidiary of each Loan Party to comply, with all Requirements of Law statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses, approvals and agreements, in each case the loss of which or failure to comply with which would could reasonably be expected to have a Material Adverse Effect, or a Material Adverse Effect on the Collateral or the priority of Bank's Lien on the Collateral.
Appears in 1 contract