Common use of Preservation of Corporate Existence and Related Matters Clause in Contracts

Preservation of Corporate Existence and Related Matters. Except as permitted by Section 8.1(b) or Section 10.3: (a) Preserve and keep in full force and effect its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents of the Borrower or any such Subsidiary, and qualify and remain qualified as a foreign organization and authorized to do business in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect. (b) Preserve and keep in full force and effect the rights (charter and statutory), licenses and franchises of the Borrower and its Subsidiaries; provided, that the Borrower shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the board of directors of the Borrower shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Lenders.

Preservation of Corporate Existence and Related Matters. Except as permitted by Section 8.1(b) or Section 10.3: (a) Preserve and keep in full force and effect its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents of the Borrower or any such Subsidiary, and qualify and remain qualified as a foreign organization and authorized to do business in each jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect., and (b) Preserve and keep in full force and effect the rights (charter and statutory), licenses and franchises of the Borrower and its Subsidiaries; provided, that the Borrower shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the board of directors of the Borrower shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Lenders; in each case (other than with respect to preservation of the corporate existence of any Credit Party), to the extent a failure to do so could reasonably be expected to have a Material Adverse Effect.

Preservation of Corporate Existence and Related Matters. Except as permitted by Section 8.1(b) or Section 10.3: (a) Preserve 10.5, preserve and keep in full force maintain its separate corporate existence and effect its corporate existenceall rights, franchises, licenses and privileges necessary to the corporate, partnership or other existence of each conduct of its Subsidiaries, in accordance with the respective organizational documents of the Borrower or any such Subsidiarybusiness, and qualify and remain qualified as a foreign organization corporation and authorized to do business in each jurisdiction where the nature and scope of its activities require it to so qualify under Applicable Law or in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect. (b) Preserve and keep in full force and effect the rights (charter and statutory), licenses and franchises of the Borrower and its Subsidiaries; providedprovided however, that the Borrower shall not be required to preserve the corporate existence of any such Subsidiary or any right, franchise, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, privilege if the board Board of directors Directors of the Borrower (or in the case of a Subsidiary having assets of $100,000 or less (after giving effect to any Disposition permitted by Section 10.6), a Responsible Officer of the Borrower acting with authority duly delegated by the Board of Directors) shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, or such Subsidiary and that the loss thereof is not adverse disadvantageous in any material respect to the Lendersconduct of the business of the Borrower or such Subsidiary.