Maintenance of Corporate Existence. As it applies to the Notes, Section 10.02 of the Original Indenture shall be replaced with the following: “The Company will (i) maintain in effect its corporate existence and all registrations necessary therefor except as otherwise permitted by Article VIII and (ii) take all reasonable actions to maintain all rights, privileges, titles to property, franchises, concessions and the like necessary or desirable in the normal conduct of its business, activities or operations; provided, however, that this Section 10.02 shall not require the Company to maintain any such right, privilege, title to property or franchise, if the Company’s Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company, and that the loss thereof is not disadvantageous in any material respect to the Holders.”
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Samples: Sixth Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa), Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa), Seventh Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa)
Maintenance of Corporate Existence. As it applies to the Notes, Section 10.02 of the Original Indenture shall be replaced with the following: “The Company will (i) maintain in effect its corporate existence and all registrations necessary therefor except as otherwise permitted by Article VIII and (ii) take all reasonable actions to maintain all rights, privileges, titles to property, franchises, concessions and the like necessary or desirable in the normal conduct of its business, activities or operations; provided, however, that this Section 10.02 shall not require the Company to maintain any such right, privilege, title to property or franchise, if the Company’s 's Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company, and that the loss thereof is not disadvantageous in any material respect to the Holders.”
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Samples: Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa), Seventh Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa), Fifth Supplemental Indenture (Petrobras - Petroleo Brasileiro Sa)
Maintenance of Corporate Existence. As it applies to the Notes, Section 10.02 of the Original Indenture shall be replaced with the following: “The Company will, and will cause each of its Subsidiaries to, (i) maintain in effect its their corporate existence and all registrations necessary therefor except as otherwise permitted by Article VIII and (ii) take all reasonable actions to maintain all rights, privileges, titles to property, franchises, concessions and the like necessary or desirable in the normal conduct of its business, activities or operations; provided, however, that this Section 10.02 10.03 shall not require the Company to maintain or cause any Subsidiary thereof to maintain any such right, privilege, title to property or franchisefranchise or to preserve the corporate existence of any Subsidiary, if the Company’s 's Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company, and that the loss thereof is not disadvantageous in any material respect to the Holders.”
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