Common use of Maintenance of Existence, Assets, and Business Clause in Contracts

Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in good standing in its state of organization, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in good standing in all other states, (ii) maintain all licenses, permits, franchises, and Governmental Requirements necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 6 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

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Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in good standing in its state of organizationorganization or formation, and (b) except where not a Material Adverse Event maintain (i) maintain its authority to transact business in good standing in all other states, (ii) maintain all licenses, permits, franchises, and Governmental Requirements necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 4 contracts

Samples: Credit Agreement (Innkeepers Usa Trust/Fl), Credit Agreement (Innkeepers Usa Trust/Fl), Credit Agreement (Innkeepers Usa Trust/Fl)

Maintenance of Existence, Assets, and Business. Each Except as otherwise permitted by Section 9.6, each Company shall will (a) maintain its trust, partnership, limited liability company, or corporate existence in and good standing in its state of organization, organization and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in and good standing in all other statesjurisdictions where the nature and extent of its business and properties require due qualification and good standing, (iib) maintain all licenses, permits, franchises, permits and Governmental Requirements franchises necessary for its businessbusiness where failure to do so is a Material Adverse Event, and (iiic) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 3 contracts

Samples: Credit Agreement (Vertex Energy Inc.), Credit Agreement (Deep Down, Inc.), Credit Agreement (Deep Down, Inc.)

Maintenance of Existence, Assets, and Business. Each Company Obligor shall (a) maintain its trust, partnership, limited liability company, or corporate existence in good standing in its state of organization, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in good standing in all other states, (ii) maintain all licenses, permits, franchises, and Governmental Requirements necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 2 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in and good standing in its state of organizationincorporation, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in and good standing in all other states, (ii) maintain all licenses, permits, franchisesand franchises (including, and Governmental Requirements without limitation, Environmental Permits) necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 2 contracts

Samples: Credit Agreement (Affiliated Computer Services Inc), Credit Agreement (Affiliated Computer Services Inc)

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Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in and good standing in its state of organization, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in and good standing in all other states, (ii) maintain all licenses, permits, franchisesand franchises (including, and Governmental Requirements without limitation, Environmental Permits) necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in good standing in its state of organization, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in good standing in all other states, (ii) maintain all licenses, permits, franchises, and Governmental Requirements necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Maintenance of Existence, Assets, and Business. Each Company shall (a) maintain its trust, partnership, limited liability company, or corporate existence in good standing in its state of organization, and (b) except where not a Material Adverse Event (i) maintain its authority to transact business in good standing in all other states, (ii) maintain all licenses, permits, franchises, and Governmental Requirements necessary for its business, and (iii) keep all of its material assets that are useful in and necessary to its business in good working order and condition (ordinary wear and tear excepted) and make all necessary repairs and replacements.. Amended and Restated Credit Agreement 41

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

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