Legal Separateness Sample Clauses

Legal Separateness. The Borrower (a) shall cause the management, business and affairs of the Borrower and its Subsidiaries to be conducted in such a manner so that the Hi-Crush Proppants Entities will be treated as entities separate and distinct from the Borrower and its Subsidiaries (including, without limitation, by keeping separate books of account and by not permitting Property of the Borrower and its Subsidiaries to be commingled with that of the Hi-Crush Proppants Entities); and (b) shall not, and shall not permit any of its Subsidiaries to, incur, assume, guarantee or be or become liable for any Debt of the Hi-Crush Proppants Entities.
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Legal Separateness. Each Co-Borrower (a) shall cause the management, business and affairs of such Co-Borrower and its Subsidiaries to be conducted in such a manner so that the Sponsor and its Subsidiaries (other than MMP and its Subsidiaries) will be treated as entities separate and distinct from the Co-Borrowers and their respective Subsidiaries (including, without limitation, by keeping separate books of account); and (b) shall not, and shall not permit any of its Subsidiaries to, incur, assume, guarantee or be or become liable for any Debt of the Sponsor and its Subsidiaries (other than MMP and its Subsidiaries).
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Legal Separateness. The Loan Parties shall, and shall cause their Subsidiaries to,
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Legal Separateness. (a) Cause the management, business and affairs of the Borrower to be conducted in such a manner so that the Borrower will be treated as a separate and distinct entity from each of TEP and its subsidiaries, TEGP and its subsidiaries, each Unrestricted Subsidiary and any other Person in which the Borrower holds an Equity Interest.
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Legal Separateness. Each Co-Borrower (a) shall cause the management, business and affairs of such Co-Borrower and its Subsidiaries to be conducted in such a manner so that the Sponsor and its Subsidiaries (other than MMP and its Subsidiaries) will be treated as entities separate and distinct from the Co-Borrowers and their respective Subsidiaries (including, without limitation, by keeping separate books of account); and
Sample 1
Legal Separateness. Prior to a Hi-Crush Proppants Event and subject to Section 6.10, the Borrower (a) shall cause the management, business and affairs of the Borrower and its Subsidiaries to be conducted in such a manner so that the Hi-Crush Proppants Entities will be treated as entities separate and distinct from the Borrower and its Subsidiaries (including, without limitation, by keeping separate books of account and by not permitting Property of the Borrower and its Subsidiaries to be commingled with that of the Hi-Crush Proppants Entities); and (b) shall not, and shall not permit any of its Subsidiaries to, incur, assume, guarantee or be or become liable for any Debt of the Hi-Crush Proppants Entities.
Sample 1
Legal Separateness. (a) Cause the management, business and affairs of each of the Borrower and the Restricted Subsidiaries to be conducted in such a manner so that Azure and its Subsidiaries (other than the Borrower and its Subsidiaries) will be treated as entities separate and distinct from the Borrower and its Subsidiaries.
Sample 1
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Related to Legal Separateness

  • Corporate Separateness (a) Satisfy, and cause each of its Restricted Subsidiaries and Unrestricted Subsidiaries to satisfy, customary corporate and other formalities, including, as applicable, the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, in each case, to the extent required by law and the maintenance of corporate offices and records.

  • Separateness CAC will take such actions that are required on its part to be performed to cause (i) Funding to be in compliance, at all relevant times, with Sections 6.01(xviii) and 6.04 of the Sale and Servicing Agreement, and (ii) all factual assumptions set forth in the opinion letters delivered by Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP with respect to certain bankruptcy matters under the Sale and Servicing Agreement to remain true at all relevant times.

  • Maintenance of Company Separateness The Borrower will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

  • Special Purpose Entity/Separateness (a) Until the Debt has been paid in full, Borrower hereby represents, warrants and covenants that the Borrower is, shall be and shall continue to be a Special Purpose Entity. If Borrower consists of more than one Person, each such Person shall be a Special Purpose Entity.

  • Single Purpose Entity/Separateness Borrower represents, warrants and covenants as follows:

  • Organization and Related Matters Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

  • Compliance with Organizational Documents The Seller shall comply with its limited liability company agreement and other organizational documents.

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