Common use of Maintenance of Existence; Conduct of Business Clause in Contracts

Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, licenses and franchises necessary in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's status as a FHA approved mortgagee; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (E Loan Inc), Warehousing Credit and Security Agreement (Nab Asset Corp)

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Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, licenses and franchises necessary in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof; , conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's status as a FHA approved mortgagee; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Mortgage Com Inc)

Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, licenses and franchises necessary in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's ’s status as a FHA approved mortgagee; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (Sirva Inc), Warehousing Credit and Security Agreement (Sirva Inc)

Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, licenses and franchises necessary or desirable in the normal conduct of its business, including, without limitation, including its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof9.1; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's status Borrower’s eligibility as a FHA approved mortgageelender, seller/servicer and issuer described under Section 9.1; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (Mortgageit Holdings Inc), Warehousing Credit and Security Agreement (WMC Finance Co)

Maintenance of Existence; Conduct of Business. Preserve and maintain --------------------------------------------- its corporate existence in good standing and all of its rights, privileges, licenses and franchises necessary in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof; , conduct its business in an orderly and efficient manner; , maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's status as a FHA approved mortgagee; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Iown Holdings Inc)

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Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, privileges licenses and franchises necessary or desirable in the normal conduct of its business, including, without limitation, including its eligibility as lender, seller/servicer and issuer described under Section 5.11 hereof9.1; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD at any and all times for maintaining the Company's status Borrower’s eligibility as a FHA approved mortgageelender, seller/servicer and issuer described under Section 9.1; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Homebanc Corp)

Maintenance of Existence; Conduct of Business. Preserve and maintain its corporate existence in good standing and all of its rights, privileges, licenses licenses, qualifications and franchises necessary or desirable in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer an approved lender and issuer as described under Section 5.11 5.13 hereof; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD its Investors at any and all times for maintaining the Company's status as a FHA approved mortgageelender; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (PMCC Financial Corp)

Maintenance of Existence; Conduct of Business. Preserve and --------------------------------------------- maintain its corporate existence in good standing and all of its rights, privileges, licenses licenses, qualifications and franchises necessary or desirable in the normal conduct of its business, including, without limitation, its eligibility as lender, seller/servicer an approved lender and issuer as described under Section 5.11 5.13 hereof; conduct its business in an orderly and efficient manner; maintain a net worth of acceptable assets as required by HUD its Investors at any and all times for maintaining the Company's status as a FHA approved mortgageelender; and make no material change in the nature or character of its business or engage in any business in which it was not engaged on the date of this Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Preferred Credit Corp)

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