Common use of Maintenance of Existence and Properties Clause in Contracts

Maintenance of Existence and Properties. Maintain the corporate --------------------------------------- existence of each of CWM, Indy Mac and ILC and obtain and maintain all rights, privileges, licenses, approvals, franchises, properties and assets necessary or desirable in the normal conduct of the business of the Companies, and comply with all Contractual Obligations and Requirements of Law, except where the failure to so comply would not have a material adverse effect on the business, operations, assets or financial condition of the Companies, taken as a whole, or on the Collateral. CWM will at all times remain qualified as a REIT, ILC will at all times remain qualified as a "qualified REIT subsidiary," as defined in the Code, and CWM will at all times own at least ninety-nine percent (99%) of the economic interest in Indy Mac.