Common use of Maintenance of Existence; Payment of Obligations; Compliance with Law Clause in Contracts

Maintenance of Existence; Payment of Obligations; Compliance with Law. (a) Each Loan Party shall (i) continue to engage primarily in the automotive business and (ii) preserve, renew and keep in full force and effect its corporate existence, other than in respect of any Loan Party that is being amalgamated into another Loan Party pursuant to a Permitted Restructuring Transaction, and (iii) take all reasonable actions to maintain all rights necessary for the normal conduct of its business, except to the extent that failure to do so would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) Each Loan Party shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except (i) where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of such Loan Party, as the case may be, or (ii) as would not constitute an Event of Default under Sections 9.01(d) or 9.01(g) hereof. (c) Each Loan Party shall comply with all Requirements of Law except to the extent that failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

Maintenance of Existence; Payment of Obligations; Compliance with Law. (a) Each Loan Party shall (i) The Borrower will, and will cause the Group Members taken as a whole to, continue to engage primarily in the automotive business and (ii) preserve, renew and keep in full force and effect its corporate existence, other than in respect of any Loan Party that is being amalgamated into another Loan Party pursuant to a Permitted Restructuring Transaction, existence and (iii) take all reasonable actions to maintain all rights necessary for the normal conduct of its business, except to the extent that failure to do so would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) Each Loan Party shall The Borrower will, and will cause each Group Member to, pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except (i) where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of such Loan Partythe Borrower or its Subsidiaries, as the case may be, or (ii) as would not constitute an Event of Default under Sections 9.01(d7.1(f) or 9.01(g(g) hereof. (c) Each Loan Party shall The Borrower will, and will cause each Group Member to, comply with all Requirements of Law except to the extent that failure to comply therewith would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.