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) Subject to the Orders, the Related Section 363 Transactions and the Cases, the Borrower will, and will cause each Group Member to, continue to engage primarily in the automotive business and preserve (except to the extent provided in the Wind-Down), renew and keep in full force and effect its corporate existence and 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 could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) Subject to the Orders, the Related Section 363 Transactions and the Cases, 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 their Postpetition obligations of whatever nature, except (i) where such payment, discharge or satisfaction is prohibited by the Orders, the Bankruptcy Code, the Bankruptcy Rules or an order of the Bankruptcy Court or by this Agreement or the Monthly Budget, or (ii) 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 the Borrower or its Subsidiaries, as the case may be. (c) Subject to the Orders, the Related Section 363 Transactions and the Cases, the Bankruptcy Code and all orders of the Bankruptcy Court entered, the Borrower will, and will cause each Group Member to, comply with all Postpetition Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

Maintenance of Existence; Payment of Obligations; Compliance with Law. (a) Subject to the Orders, the Related Section 363 Transactions and the Cases, the Borrower will, and will cause each Group Member to, continue to engage primarily in the automotive business and preserve (except to the extent provided in the Wind-DownDown Parameters), renew and keep in full force and effect its corporate existence and 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 could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. (b) Subject to the Orders, the Related Section 363 Transactions and the Cases, 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 their Postpetition obligations of whatever nature, except (i) where such payment, discharge or satisfaction is prohibited by the Orders, the Bankruptcy Code, the Bankruptcy Rules or an order of the Bankruptcy Court or by this Agreement or the Monthly Approved Budget, or (ii) 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 the Borrower or its Subsidiaries, as the case may be. (c) Subject to the Orders, the Related Section 363 Transactions and the Cases, the Bankruptcy Code and all orders of the Bankruptcy Court entered, the Borrower will, and will cause each Group Member to, comply with all Postpetition Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.