Legal Existence of Subsidiaries. Cause each Subsidiary of the Borrower to maintain its status as a real estate investment trust, business trust, corporation, limited liability company or partnership, as the case may be, in good standing in its state of formation and in each other jurisdiction in which the failure so to do could reasonably be expected to have a Material Adverse Effect; provided, that Borrower may cause any Subsidiary (other than a Subsidiary Guarantor, except as allowed by Section 8.2) to be liquidated or dissolved.
Appears in 8 contracts
Samples: Term Loan Agreement (New Plan Excel Realty Trust Inc), Term Loan Agreement (New Plan Excel Realty Trust Inc), Credit Agreement (Centro NP LLC)
Legal Existence of Subsidiaries. Cause each Subsidiary of the Borrower to maintain its status as a real estate investment trust, business trust, corporation, limited liability company or partnership, as the case may be, in good standing in its state of formation and in each other jurisdiction in which the failure so to do either (i) would result in the occurrence of a Default, or (ii) could reasonably be expected to have a Material Adverse Effect; provided, that Borrower may cause any Subsidiary (other than a Subsidiary Guarantor, except as allowed by Section 8.2) to be liquidated or dissolved.
Appears in 8 contracts
Samples: Credit Agreement (Urstadt Biddle Properties Inc), Term Loan Agreement (New Plan Excel Realty Trust Inc), Credit Agreement (Urstadt Biddle Properties Inc)
Legal Existence of Subsidiaries. Cause each Subsidiary of the Borrower to maintain its status as a real estate investment trust, business trust, corporation, limited liability company or partnership, as the case may be, in good standing in its state of formation and in each other jurisdiction in which the failure so to do could reasonably be expected to have a Material Adverse Effect; provided, that Borrower may cause any Subsidiary (other than a Subsidiary GuarantorGuarantor or a Restricted Subsidiary, except as allowed by Section 8.2) to be liquidated or dissolved.
Appears in 3 contracts
Samples: Secured Term Loan Agreement (New Plan Excel Realty Trust Inc), Secured Term Loan Agreement (New Plan Excel Realty Trust Inc), Secured Term Loan Agreement (New Plan Excel Realty Trust Inc)
Legal Existence of Subsidiaries. Cause each Subsidiary of the Borrower to (i) maintain its status as a real estate investment trust, business trust, corporation, limited liability company or partnership, as the case may be, and (ii) be in good standing in its state of formation and in each other jurisdiction in which the failure so to do either (x) would result in the occurrence of a Default, or (y) could reasonably be expected to have a Material Adverse Effect; provided, that Borrower may cause any Subsidiary (other than a Subsidiary Guarantor, except as allowed by Section 8.2) to be liquidated or dissolved.
Appears in 2 contracts
Samples: Credit Agreement (Urstadt Biddle Properties Inc), Credit Agreement (Urstadt Biddle Properties Inc)