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

Maintenance of Corporate Existence; Properties. IRSA PC will, and will cause each of its Subsidiaries to, maintain in effect its corporate existence and all registrations necessary therefore (except for transactions not otherwise prohibited by ‎Article VIII), take all actions to maintain all rights, privileges, titles to property or franchises necessary in the normal conduct of its business and 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 PC to do so if in each case the Board of Directors of IRSA PC shall determine in good faith that the maintenance or preservation thereof is no longer necessary or desirable in the conduct of business of IRSA PC or the failure to so comply would not have a material adverse effect on the business, assets, operations or financial condition of IRSA PC and its Subsidiaries taken as a whole.

Maintenance of Corporate Existence; Properties. IRSA PC will, and will cause each of its Subsidiaries to, maintain in effect its corporate existence and all registrations necessary therefore (except for transactions not otherwise prohibited by ‎Article Article VIII), take all actions to maintain all rights, privileges, titles to property or franchises necessary in the normal conduct of its business and 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 PC to do so if in each case the Board of Directors of IRSA PC shall determine in good faith that the maintenance or preservation thereof is no longer necessary or desirable in the conduct of business of IRSA PC or the failure to so comply would not have a material adverse effect on the business, assets, operations or financial condition of IRSA PC and its Subsidiaries taken as a whole.