Common use of Preservation of Corporate Status Clause in Contracts

Preservation of Corporate Status. The Borrower shall, and shall cause each of its Subsidiaries to, do, or cause to be done, all things necessary to preserve and keep in full force and effect its corporate existence and all permits, rights and privileges necessary for the proper conduct of its business; provided, however, that nothing in this Section 5.04 shall prevent the withdrawal by the Borrower or any of its Subsidiaries of its qualification as a foreign corporation in any jurisdiction where such withdrawal could not reasonably be expected to have a material adverse effect on the business of such entity; and provided further, that nothing in this Section 5.04 shall prevent the Borrower or any of its Subsidiaries from failing to maintain or terminating any right, privilege or permit, if such failure or termination is not disadvantageous in any material respect to the Lenders, is not in violation of, will not cause an Event of Default under, any provision of this Agreement and does not have a material adverse effect on the ability of the Borrower to perform its obligations hereunder.

Preservation of Corporate Status. The Borrower shall, and shall cause each of its Significant Subsidiaries to, do, or cause to be done, all things necessary to preserve and keep in full force and effect its corporate existence and all permits, rights and privileges necessary for the proper conduct of its business; providedPROVIDED, howeverHOWEVER, that nothing in this Section 5.04 shall prevent the withdrawal by the Borrower or any of its Significant Subsidiaries of its qualification as a foreign corporation in any jurisdiction where such withdrawal could not reasonably be expected to have a material adverse effect on the business of such entityMaterial Adverse Effect; and provided furtherPROVIDED FURTHER, that nothing in this Section 5.04 shall prevent the Borrower or any of its Significant Subsidiaries from failing to maintain or terminating any right, privilege or permit, if such failure or termination is not disadvantageous in any material respect to the Lenderstermination, is not in violation of, of or will not cause an Event of Default under, any provision of this Agreement and does not have a material adverse effect on the ability of the Borrower to perform its obligations hereunderMaterial Adverse Effect.