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.

Appears in 2 contracts

Samples: Possession Credit Agreement, Possession Credit Agreement

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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.

Appears in 2 contracts

Samples: Possession Credit Agreement, Possession Credit Agreement

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