Organizational Separateness. In the case of Holdings, each Specified Holdings Subsidiary, each Non-Recourse Subsidiary and the Borrower and its Subsidiaries, (a) satisfy customary formalities with respect to organizational separateness, including, without limitation, (i) the maintenance of separate books and records and (ii) the maintenance of separate bank or other deposit or investment accounts in its own name; (b) act solely in its own name and through its authorized officers and agents; (c) in the case of the Borrower or any of its Subsidiaries, not make or agree to make any payment to a creditor of Holdings, any Specified Holdings Subsidiary or any Non-Recourse Subsidiary; (d) not commingle any money or other assets of Holdings, any Specified Holdings Subsidiary or any Non-Recourse Subsidiary with any money or other assets of the Borrower or any of its Subsidiaries; and (e) not take any action, or conduct its affairs in a manner, which could reasonably be expected to result in the separate organizational existence of Holdings, each Specified Holdings Subsidiary and each Non-Recourse Subsidiary from the Borrower and its Subsidiaries being ignored under any circumstance. Holdings agrees to cause each Specified Holdings Subsidiary, and the Borrower agrees to cause each Non-Recourse Subsidiary, to comply with the applicable provisions of this Section 6.10.
Organizational Separateness. Each Originator agrees not to take any action that would cause Buyer to violate its articles of incorporation or certificate of incorporation, as appropriate, and bylaws. Buyer agrees to conduct its business in a manner consistent with its articles of incorporation or certification of incorporation, as appropriate, and bylaws or its limited liability company agreement or operating agreement, as applicable.
Organizational Separateness. (a) Ensure that each Unrestricted Subsidiary SPV does not (i) conduct, transact or otherwise engage in, or commit to conduct, transact or otherwise engage in, any business or operations other than those incidental to its ownership of the Capital Stock of Unrestricted Subsidiaries, (ii) own, lease, manage or otherwise operate any properties or assets other than the Capital Stock of Unrestricted Subsidiaries owned by it or (iii) own the Capital Stock of both Foreign and Domestic Subsidiaries.
Organizational Separateness. (a) Maintain bank accounts with commercial banking institutions that are separate from those of the Excluded Subsidiaries.
Organizational Separateness. Originator agrees not to take any action that would cause Buyer to violate its certificate of incorporation and by-laws. Buyer agrees to conduct its business in a manner consistent with its certificate of incorporation and by-laws.
Organizational Separateness. The Borrower shall (a) not fail to correct any known misunderstanding regarding its existence separate and distinct from Holdings, (b) maintain its accounts, books and records separate from those of Holdings, (c) not commingle its funds or assets with those of Holdings and shall not permit Holdings to have direct access to its cash, (d) hold all of its assets in its own name and shall not permit Holdings to acquire or dispose of any assets on its behalf, (e) not conduct business in the name of Holdings, (f) not assume or guarantee or otherwise become obligated for the debts of Holdings or hold out its credit as being available to satisfy the obligations of Holdings, and (g) allocate fairly and reasonably any overhead for office space shared with Holdings and shall use separate stationery, invoices and checks from those used by Holdings.
Organizational Separateness. The Sellers agree not to take any action that would cause Buyer to violate its certificate of incorporation and by-laws or the Buyer’s obligations under Section 5.1(o) of the Second Tier Agreement. Buyer agrees to conduct its business in a manner consistent with its certificate of incorporation and by-laws and to comply with its obligations under Section 5.1(o) of the Second Tier Agreement.
Organizational Separateness. In the case of Holdings, each Specified Holdings Subsidiary, each Non-Recourse Subsidiary and the Borrower and its Subsidiaries, (a) satisfy customary formalities with respect to organizational separateness, including, without limitation, (i) the maintenance of separate books and records and (ii) the maintenance of separate bank accounts in its own name; (b) act
Organizational Separateness. Each Originator agrees not to take any action that would cause Buyer to violate its formative documents. Buyer agrees to conduct its business in a manner consistent with its formative documents.
Organizational Separateness. Each Originator agrees not to take any action that would cause Buyer to violate its formative documents or the Separateness Agreement, dated as of September 28, 2001, to which Buyer and Albany International Corp. are parties. Buyer agrees to conduct its business in a manner consistent with its formative documents and such Separateness Agreement.
