Maintenance of Single Purpose Sample Clauses

Maintenance of Single Purpose. Maintain its existence as a Single Purpose Entity.
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Maintenance of Single Purpose. Borrower shall maintain its existence as a Single Purpose Entity.
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Maintenance of Single Purpose. (a) Maintain its existence as a Single Purpose Entity; and (b) At all times cause there to be at least one duly appointed Independent Director as a member of the board of directors of Mortgagor.
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Maintenance of Single Purpose. (a) Maintain its existence as a Single Purpose Entity; (b) Cause its board of directors to hold appropriate meetings (or act by unanimous consent) to authorize all appropriate corporate actions and, in authorizing such actions, to observe all corporate formalities; and (c) At all times cause there to be at least one duly appointed member of its board of directors (an "Independent Director") reasonably satisfactory to Lender who shall not have been at the time of such individual's initial appointment, and may not have been at any time during the preceding five years, and shall not be at any time while serving as such director either (i) an owner of any of its equity interests, or an officer, director, partner or employee of, it or any of its shareholders, principals, subsidiaries or affiliates, (ii) a customer of, or supplier to, it or any of its shareholders, principals, subsidiaries or affiliates, (iii) a person controlling or under common control with any such shareholder, principal, director, employee, supplier or customer, or (iv) a member of the immediate family of any such shareholder, principal, director, employee, supplier or customer. As used herein, the term "control": means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of a person, whether through ownership of voting securities, by contract or otherwise.
Sample 1
Maintenance of Single Purpose. (a) Maintain its existence as a Single Purpose Entity; and (b) At all times cause there to be at least one duly appointed member of the board of directors (an "Independent Director") reasonably satisfactory to Lender who shall not have been at the time of such individual's initial appointment, and may not have been at any time during the preceding five years, and shall not be at any time while serving as such director, either (i) an owner of any of its equity interests, or an officer, director, partner or employee of it or any of its shareholders, principals, subsidiaries or affiliates, (ii) a customer of or supplier to it or any of its shareholders, principals, subsidiaries or affiliates, (iii) a person controlling or under common control with any such shareholder, principal, director, employee, supplier or customer, or (iv) a member of the immediate family of any such shareholder, principal, director, employee, supplier or customer. As used herein, the term "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of a person, whether through ownership of voting securities, by contract or otherwise.
Sample 1
Maintenance of Single Purpose. (a) Maintain its existence as a Single Purpose Entity; and (b) At all times cause there to be at least one duly appointed member of the board of directors (an "Independent Director") reasonably satisfactory to Lender who shall not have been at the time of such individual's initial appointment, and may not have been at any time during the preceding five years, and shall not be at any time while serving as such director, either (i) an owner of any of Borrower's equity interests, or an officer, director, or employee of Borrower or any of Borrower's shareholders, principals, subsidiaries or Affiliates, except for service as an independent director on the board of directors of Affiliates of Borrower, (ii) a customer of, or supplier to, Borrower or any of Borrower's shareholders, principals, subsidiaries or Affiliates, except for service as an independent director on the board of directors of Affiliates of Borrower, (iii) a Person controlling or under common control with any such shareholder, principal, director, employee, supplier or customer, or (iv) a member of the immediate family of any such shareholder, principal, director, employee, supplier or customer. As used herein, the term "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of a Person, whether through ownership of voting securities, by contract or otherwise.
Sample 1

Related to Maintenance of Single Purpose

  • Maintenance of Status The Borrower will maintain its separate corporate existence and remain in good standing under the laws of the Xxxxxxxx Islands.

  • Maintenance of Existence, etc Maintain and preserve, and (subject to Section 11.5) cause each other Loan Party to maintain and preserve, (a) its existence and good standing in the jurisdiction of its organization and (b) its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect).

  • Conduct of Business and Maintenance of Existence, etc (a) (i) Preserve, renew and keep in full force and effect its corporate existence and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business, except, in each case, as otherwise permitted by Section 7.4 and except, in the case of clause (ii) above, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (b) comply with all 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 (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization or incorporation and (b) take all reasonable action to maintain all rights, privileges (including its good standing), permits, licenses and franchises necessary or desirable in the normal conduct of its business, except (i) in each case of clauses (a) (other than with respect to the Borrower) and (b), to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect or (ii) in each case, pursuant to a transaction permitted by Section 7.04 or Section 7.05.

  • 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 Mortgage Blanket Insurance The Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans. To the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.12 and otherwise complies with all other requirements of Section 3.12, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.12. Any amounts collected by the Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Sections 3.04 or 3.06. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 3.12, and there shall have been a loss which would have been covered by such policy, the Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Servicer’s funds, without reimbursement therefor.

  • Maintenance of Premises The Tenant shall at all times during the Term of this Lease, at its sole cost and expense, well, properly and sufficiently repair, maintain and keep the Leased Premises with the appurtenances (including, without restricting the generality of the foregoing, signs and inside and outside plate glass windows and doors, including all overhead or exterior doors to be installed) in good and substantial repair and shall repair, maintain and replace all fixtures and things which at any time during the Term of this Lease are located or erected in or upon the Lease Premises, such repair, maintenance and replacement to be made by the Tenant when, where and so often as need shall be, except for: (a) repairs required to be made by the Landlord pursuant to the provisions of Clause 4.01 hereof; and (b) reasonable wear and tear; Unless such excepted repairs are necessitated by the acts or omissions of the Tenant, its agents, employees, invitees or licensees. The cost of any repair or replacement required to be made of the Leased Premises as a result of any act or omission of the Tenant, its employees, servants, agents or licensees shall be paid in full by the Tenant. Provided further, notwithstanding anything to the contrary herein contained, the Tenant shall make all repairs and replacements to the Leased Premises made necessary by reason of burglary or attempted burglary. (c) It is understood that the Tenant will organize maintenance for the grounds and maintenance to keep all sidewalks, roadways and parking areas bordering on the Building free of ice and snow and the grass, if any, fronting the Building, cut and properly cared for. All contracts for this maintenance are to be approved by the Landlord in writing and the Tenant will be charged back their proportionate share of these costs as Operating Costs. Any maintenance costs which are shared with other tenants must have prior written approval from the Landlord.

  • Maintenance of D&O Insurance The Company hereby covenants and agrees that, so long as the Indemnitee shall continue to serve as an agent of the Company and thereafter so long as the Indemnitee shall be subject to any possible proceeding by reason of the fact that the Indemnitee was an agent of the Company, the Company, subject to Section 3(c), shall promptly obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”) in reasonable amounts from established and reputable insurers.

  • Maintenance of Existence and Rights Shall preserve and maintain its corporate existence, authorities to transact business, rights and franchises, trade names, patents, trademarks and permits necessary to the conduct of its business.

  • MAINTENANCE OF THE SAID BUILDING APARTMENT / PROJECT

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