Common use of Preservation of Corporate Existence and Property Clause in Contracts

Preservation of Corporate Existence and Property. The Company shall, and shall cause each of its Subsidiaries to, preserve and maintain (i) its corporate existence, (ii) its rights, franchises and privileges and (iii) all its assets and properties in adequate working order and condition, with the exception of (x) ordinary wear and tear, (y) casualty losses covered by insurance or where the failure to be so fully covered did not constitute a breach of Section 5.4 and (z) as otherwise approved by the Board.

Preservation of Corporate Existence and Property. The Company shallshall preserve, protect and shall cause each of its Subsidiaries to, preserve and maintain maintain: (i) its corporate existenceexistence and good standing in its jurisdiction of incorporation, (ii) its rights, franchises and privileges privileges, and (iii) all of its assets and properties necessary or useful in adequate the proper conduct of its business in good working order and condition, with the exception of (x) ordinary wear and tear, and (y) casualty losses covered by insurance or where the failure to be so fully covered did not constitute a breach of Section 5.4 and (z) as otherwise approved by the Boardinsurance, allowing for reasonable deductibles.

Preservation of Corporate Existence and Property. The Company shallshall preserve, protect and shall cause each of its Subsidiaries to, preserve and maintain maintain: (i) its corporate existenceexistence and good standing in its jurisdiction of incorporation, (ii) its rights, franchises and privileges privileges, and (iii) all of its assets and properties necessary or useful in adequate the proper conduct of its business in good working order and condition, with the exception of (xy) ordinary wear and tear, tear and (yz) casualty losses covered by insurance or where the failure to be so fully covered did not constitute a breach of Section 5.4 and (z) as otherwise approved by the Boardinsurance, allowing for reasonable deductibles.