Common use of Maintenance of Ownership Clause in Contracts

Maintenance of Ownership. Each Borrower will maintain ownership of all Capital Stock of each Material Subsidiary, directly or indirectly, free and clear of all Liens except as permitted by Section 8.3. The Borrowers will take such action as necessary to ensure that, on and after the date of the Merger, Duke Energy Field Services, LLC will be (and will remain) a wholly owned Subsidiary, direct or indirect, of Duke Energy Field Services Corporation unless Duke Energy Field Services, LLC is merged with and into Duke Energy Field Services Corporation.

Maintenance of Ownership. Each Borrower will maintain ownership of all Capital Stock of each Material Subsidiary, directly or indirectly, free and clear of all Liens except as permitted by Section 8.3. The Borrowers will take such action as necessary to ensure that, on and after the date that a Subsidiary of the MergerPhilxxxx Xxxroleum is merged into Duke Energy Field Services Corporation, Duke Energy Field Services, LLC will be (and will remain) a wholly owned Subsidiary, direct or indirect, of Duke Energy Field Services Corporation unless Duke Energy Field Services, LLC is merged with and into Duke Energy Field Services Corporation.