Common use of Maintenance of Corporate Existence; Properties Clause in Contracts

Maintenance of Corporate Existence; Properties. IRSA will, and will cause each of its Subsidiaries to, (a) maintain in effect its corporate existence and all registrations necessary therefore (except for transactions not otherwise prohibited by Article VIII), (b) take all actions to maintain all rights, privileges, titles to property or franchises necessary in the normal conduct of its business and (c) keep all its property used or useful in the conduct of its business in good working order and condition; provided that this covenant shall not require IRSA to maintain any such right, privilege, title to property or franchises, or to preserve the corporate existence of any Subsidiary, if in each case (i) the Board of Directors of IRSA shall determine in good faith that the maintenance or preservation thereof is no longer necessary or desirable in the conduct of business of IRSA or (ii) the failure to so comply would not have a material adverse effect on the business, assets, operations or financial condition of IRSA and its Subsidiaries taken as a whole.

Maintenance of Corporate Existence; Properties. IRSA The Company will, and will cause each of its Subsidiaries to, (a) maintain in effect its corporate existence and all registrations necessary therefore (except for transactions not otherwise prohibited by Article VIIIIV), (b) take all actions to maintain all rights, privileges, titles to property or franchises necessary in the normal conduct of its business and (c) keep all its property used or useful in the conduct of its business in good working order and condition; provided that this covenant shall not require IRSA the Company to maintain any such right, privilege, title to property or franchises, or to preserve the corporate existence of any Subsidiary, if in each case (i) the Board of Directors of IRSA the Company shall determine in good faith that the maintenance or preservation thereof is no longer necessary or desirable in the conduct of business of IRSA the Company or (ii) the failure to so comply would not have a material adverse effect on the business, assets, operations or financial condition of IRSA the Company and its Subsidiaries taken as a whole.

Maintenance of Corporate Existence; Properties. IRSA APSA will, and will cause each of its Subsidiaries to, (a) maintain in effect its corporate existence and all registrations necessary therefore (except for transactions not otherwise prohibited by Article VIII), (b) take all actions to maintain all rights, privileges, titles to property or franchises necessary in the normal conduct of its business and (c) keep all its property used or useful in the conduct of its business in good working order and condition; provided that this covenant shall not require IRSA APSA to maintain any such right, privilege, title to property or franchises, or to preserve the corporate existence of any Subsidiary, if in each case (i) the Board of Directors of IRSA APSA shall determine in good faith that the maintenance or preservation thereof is no longer necessary or desirable in the conduct of business of IRSA APSA or (ii) the failure to so comply would not have a material adverse effect on the business, assets, operations or financial condition of IRSA APSA and its Subsidiaries taken as a whole.