Maintenance of legal existence of the Borrower Sample Clauses

Maintenance of legal existence of the Borrower. The Borrower shall preserve and maintain its legal existence as a company engaged only in such activities as stated in the Memorandum and Articles of Association and shall procure and keep valid all Clearances required under Applicable Law for maintenance of its existence and for conduct of its business.
Sample 1
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Maintenance of legal existence of the Borrower. The Borrower shall preserve and maintain its legal existence as a company engaged only in such activities as stated in the Memorandum and Articles of Association and shall procure and keep valid all Clearances required under Applicable Law for maintenance of its existence and for conduct of its business. BB If required by the Lender, one or more authorised officers of the Borrower shall meet with the Lender as agreed at an agreed time to such matters regarding the Borrower as the Lender may request. CC Each Borrower agrees that in accordance with the provisions of the RBI Circular on “Framework for revitalising distressed assets in the economy- Guidelines on Joint Lenders Forum and Corrective Action Plan”, the Lender shall be entitled to identify incipient stress in the Borrower's account held with it and pursuant thereto, create different sub-categories of such accounts. The Borrower agrees that the Lender shall report the credit information about the Borrower if the aggregate fund based and non-fund based exposure of the Lender is above the limit so specified by the RBI, in this regard, from time to time, to Central Repository of Information on Large Credits (“CRILC”). Each Borrower also affirms that the Lender shall be to refer accounts having an aggregate exposure above the prescribed parameters, limits to the Joint Lenders Forum (“JLF”), to be set up in accordance with the provisions as so prescribed by the RBI in order that the JLF can explore the possibility of suggesting a corrective action plan for such accounts. The Borrower agrees that it shall be bound to comply with the solutions that are set out by JLF, CRILC, including the option of rectification, restructuring, recovery or any other actions as so suggested by the JLF. DD Shall fulfill such other affirmative covenants as set out in the Sanction Letter.
Sample 1

Related to Maintenance of legal existence of the Borrower

  • Maintenance of Existence The Fund shall continue to maintain its existence as a business trust under the laws of the Commonwealth of Massachusetts, with full right and power to issue the New VMTP Shares and to execute, deliver and perform its obligations under this Agreement and each Related Document.

  • MAINTENANCE OF CONDITIONS Conditions of employment in effect at the execution of this Agreement shall, except as improved herein, be maintained during the term of this Agreement.

  • Maintenance of Insurance The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

  • Maintenance of Rating Since the execution of this Agreement, there shall not have been any decrease in or withdrawal of the rating of any securities of the Company or any of its subsidiaries (including the Bank) by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 0000 Xxx) or any notice given of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

  • Maintenance of Coverage Consultant shall not cancel, assign, or change any policy of insurance required by this agreement or engage in any act or omission that will cause its insurer to cancel any insurance policy required by this agreement except after providing 30 days prior notice to the City. If an insurance policy required by this agreement is unilaterally cancelled or changed by the insurer, Consultant shall immediately provide written notice to the City and obtain substitute insurance meeting the requirements of this agreement. Nothing in this paragraph relieves Consultant of its obligation to maintain all insurance required by this agreement at all times during the term of the agreement.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall:

  • Maintenance of Effort The Contractor further represents that it would have not performed the scope of work in the absence of this contract and that the scope of services is in addition to what the Contractor’s level of funds and services would have been in the absence of this contract.

  • Application and Operation of Agreement Clause No. Title

  • Maintenance of Properties (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.

  • MAINTENANCE OF THE PROJECT (11-20-07) (Rev. 1-17-12) 104-10 SP1 G125 Revise the 2012 Standard Specifications as follows: Page 1-35, Article 104-10 Maintenance of the Project, line 25, add the following after the first sentence of the first paragraph: All guardrail/guiderail within the project limits shall be included in this maintenance. Page 1-35, Article 104-10 Maintenance of the Project, line 30, add the following as the last sentence of the first paragraph: The Contractor shall perform weekly inspections of guardrail and guiderail and shall report damages to the Engineer on the same day of the weekly inspection. Where damaged guardrail or guiderail is repaired or replaced as a result of maintaining the project in accordance with this article, such repair or replacement shall be performed within 7 consecutive calendar days of such inspection report. Page 1-35, Article 104-10 Maintenance of the Project, lines 42-44, replace the last sentence of the last paragraph with the following: The Contractor will not be directly compensated for any maintenance operations necessary, except for maintenance of guardrail/guiderail, as this work will be considered incidental to the work covered by the various contract items. The provisions of Article 104-7, Extra Work, and Article 104-8, Compensation and Record Keeping will apply to authorized maintenance of guardrail/guiderail. Performance of weekly inspections of guardrail/guiderail, and the damage reports required as described above, will be considered to be an incidental part of the work being paid for by the various contract items.

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