Common use of Observance of Corporate Formalities Clause in Contracts

Observance of Corporate Formalities. Except to the extent permitted by Section 6.02(b), the Company’s Subsidiaries (other than Immaterial Subsidiaries) shall observe all Legal Requirements necessary to preserve their separate existences as independent corporations, limited partnerships or other entities, including keeping separate corporate records and financial statements, electing officers and directors, holding director meetings, formally issuing equity interests and recording as independent all transactions with the Company and its other Subsidiaries (other than Immaterial Subsidiaries), except where the failure to observe any of the foregoing is not reasonably likely to cause a Material Adverse Effect.

Observance of Corporate Formalities. Except to the extent permitted by Section 6.02(b6.2.2(b), the Company’s 's Subsidiaries (other than Immaterial Subsidiaries) shall observe all Legal Requirements necessary to preserve their separate existences as independent corporations, limited partnerships or other entities, including keeping separate corporate records and financial statements, electing officers and directors, holding director meetings, formally issuing equity interests and recording as independent all transactions with the Company and its other Subsidiaries (other than Immaterial Subsidiaries), except where the failure to observe any of the foregoing is not reasonably likely to cause a Material Adverse Effect.