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 5.14, the Borrower shall, and shall cause each Subsidiary to, preserve and maintain its separate corporate existence and all rights, franchises, licenses and privileges necessary to the conduct of its business and qualify and remain qualified as a foreign corporation and authorized to do business in each jurisdiction in which it is required to be so qualified, except where the failure to be so qualified and authorized could not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Darden Restaurants Inc), Credit Agreement (Darden Restaurants Inc)

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Preservation of Corporate Existence and Related Matters. Except The Borrower will, and will cause each of its Subsidiaries to, except as permitted by Section 5.14, the Borrower shall, and shall cause each Subsidiary to7.3, preserve and maintain its the separate corporate existence of the Borrowers and all rights, franchises, licenses and privileges necessary to the conduct of the business of the Borrower and its business Subsidiaries, and qualify and remain qualified as a foreign corporation or other entity and authorized to do business in each jurisdiction jurisdiction, in each case in which it is required to be so qualified, except where the failure to be so qualified and authorized qualify could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Hormel Foods Corp /De/)

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Preservation of Corporate Existence and Related Matters. Except as permitted by Section 5.1411.4, the Borrower shall, will and shall will cause each Subsidiary to, its Consolidated Subsidiaries to preserve and maintain its separate corporate existence and all rights, franchises, licenses and privileges necessary to the conduct of its business business, and qualify and remain qualified as a foreign corporation and authorized to do business in each jurisdiction in which it is required to be so qualified, except where the failure to be so qualified and authorized could not reasonably be expected to qualify would have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Kinder Morgan Bulk Terminals Inc)

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