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

Maintenance of Existence, Assets, and Business. The Borrower shall, and shall cause each other Company (other than any Excluded Subsidiary) to, (a) except in connection with dispositions permitted under Section 9.8, mergers, consolidations and dissolutions permitted under Section 9.9 and statutory conversions to another form of entity as permitted by applicable Legal Requirements, maintain its existence and good standing in its state of formation, and (b) except where not a Material Adverse Event, (i) maintain its authority to transact business and good standing in all other states, (ii) maintain all licenses, permits and franchises (including 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 8 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp), Term Credit Agreement (Teppco Partners Lp)

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Maintenance of Existence, Assets, and Business. The Borrower shall, agrees that it shall and shall cause each other Company (other than any Excluded Subsidiary) to, to (a) except in connection with dispositions permitted under Section 9.8, 6.09 and mergers, consolidations consolidations, and dissolutions permitted under Section 9.9 and statutory conversions to another form of entity as permitted by applicable Legal Requirements6.09, maintain its corporate existence and good standing in its state jurisdiction of formationincorporation, and (b) except where not a Material Adverse Event, Event (i) maintain its authority to transact business and good standing in all other statesstates where required, (ii) maintain all licenses, permits permits, and franchises (including including, 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 Loan Agreement (American Physicians Service Group Inc)

Maintenance of Existence, Assets, and Business. The Borrower shall, and shall cause each other Company (other than any Excluded Subsidiary) to, (a) except in connection with dispositions permitted under Section 9.88.8, mergers, consolidations and dissolutions permitted under Section 9.9 8.9 and statutory conversions to another form of entity as permitted by applicable Legal Requirements, maintain its existence and good standing in its state of formation, and (b) except where not a Material Adverse Event, (i) maintain its authority to transact business and good standing in all other states, (ii) maintain all licenses, permits and franchises (including 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 (Teppco Partners Lp)

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Maintenance of Existence, Assets, and Business. The Borrower shall, and shall cause each other Company (other than any Excluded Subsidiary) to, (a) except in connection with dispositions permitted under Section 9.89.9, mergers, consolidations and dissolutions permitted under Section 9.9 9.10 and statutory conversions to another form of entity as permitted by applicable Legal Requirements, maintain its existence and good standing in its state of formation, and (b) except where not a Material Adverse Event, (i) maintain its authority to transact business and good standing in all other states, (ii) maintain all licenses, permits and franchises (including 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 (Teppco Partners Lp)

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