Common use of Maintenance of status and franchises Clause in Contracts

Maintenance of status and franchises. (a) The Borrower will do all such things as are necessary to maintain its company existence in good standing and will ensure that it has the right and is duly qualified to conduct its business as it is conducted in all applicable jurisdictions and will obtain and maintain all franchises and rights necessary for the conduct of its business. (b) The Guarantor will maintain its separate corporate existence and remain in good standing under the laws of Bermuda.