Maintain Good Standing Clause Samples
The "Maintain Good Standing" clause requires a party to remain in compliance with all applicable laws, regulations, and internal governance requirements throughout the duration of an agreement. This typically means the party must keep all necessary licenses, pay required fees, and file any mandatory reports to avoid suspension or revocation of its legal status. By including this clause, the agreement ensures that all parties remain legally capable of fulfilling their obligations, thereby reducing the risk of contract breaches due to regulatory or legal issues.
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Maintain Good Standing. Borrower is and shall remain a limited liability company in good standing under the laws of the State of North Dakota and any other state in which qualification may be necessary.
Maintain Good Standing. The Corporation will, until the expiry date of the Warrants, use its commercially reasonable efforts to remain (i) a corporation validly subsisting under the laws of British Columbia, provided that the Corporation shall not be required to comply with the terms of this Section 8(m) following the completion of a merger, amalgamation, arrangement, business combination or take-over bid pursuant to which the Corporation ceases to be a “distributing corporation” (within the meaning of the Business Corporations Act (British Columbia)); (ii) licensed, registered or qualified as an extra-provincial or foreign corporation in all jurisdictions where the character of its properties owned or leased or the nature of the activities conducted by it make such licensing, registration or qualification necessary; and shall carry on its business in the ordinary course and in compliance in all material respects with all applicable Laws of each such jurisdiction;
Maintain Good Standing. The Backup shall follow the rules State of ______’s Attorney Registration and Disciplinary Commission and maintain their status of good standing.
Maintain Good Standing. As an express condition of your receipt of the Severance Benefits, you must not engage in any conduct that qualifies as “Cause” for termination under the Severance Plan. In the event that you are terminated for Cause prior to the Separation Date, you will forfeit all rights to the Severance Benefits.