Common use of Preservation of Existence and Franchises Clause in Contracts

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its legal existence, rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effect.

Appears in 20 contracts

Samples: Credit Agreement (Griffin-American Healthcare REIT III, Inc.), Credit Agreement (Griffin-American Healthcare REIT IV, Inc.), Credit Agreement (Griffin-American Healthcare REIT IV, Inc.)

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Preservation of Existence and Franchises. Each of the Credit Party shallParties will, and shall will cause each of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its legal existence, existence and all material rights, franchises franchises, intellectual property and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effectauthority except as permitted by Section 8.5.

Appears in 8 contracts

Samples: Credit Agreement (Polaris Industries Inc/Mn), 364 Day Revolving Credit Agreement (Polaris Industries Inc/Mn), Credit Agreement (Polaris Industries Inc/Mn)

Preservation of Existence and Franchises. Each of the Credit Party shall, Parties and shall cause each of its their Subsidiaries to, will do all things necessary to preserve and keep in full force and effect its legal existence, material rights, franchises and authority. Each , except, with respect to Subsidiaries which are not Credit Party shall remain qualified and in good standing in each jurisdiction in which Parties, where the failure to do so qualify and would not reasonably be in good standing could likely to have a Material Adverse Effect.

Appears in 8 contracts

Samples: Credit Agreement (Speedway Motorsports LLC), Credit Agreement (Speedway Motorsports LLC), Credit Agreement (Speedway Motorsports Inc)

Preservation of Existence and Franchises. Each of the Credit Party shall, and shall cause each of its Subsidiaries to, Parties will do all things necessary to preserve and keep in full force and effect its legal existence, rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effectauthority except as permitted by Section 8.4.

Appears in 7 contracts

Samples: Credit Agreement (Jumbosports Inc), Credit Agreement (Gerber Childrenswear Inc), Credit Agreement (Davel Communications Inc)

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, will do all things necessary to preserve and keep in full force and effect its legal existence, rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure it is required to so qualify and be in good standing could have a Material Adverse Effectqualify.

Appears in 6 contracts

Samples: Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Brookdale Senior Living Inc.), Credit Agreement (Brookdale Senior Living Inc.)

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, will do all things necessary to preserve and keep in full force and effect its legal existence, rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effect.

Appears in 5 contracts

Samples: Credit Agreement (Omega Healthcare Investors Inc), Credit Agreement (Omega Healthcare Investors Inc), Credit Agreement (Omega Healthcare Investors Inc)

Preservation of Existence and Franchises. Each of the Credit Party shall, and shall cause each of its Subsidiaries to, Parties will do all things necessary to (a) preserve and keep in full force and effect its legal existence, existence and (b) take all reasonable action to maintain all rights, franchises and authority. Each Credit Party shall remain qualified and authority necessary or desirable in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effectnormal conduct of its business, except as permitted by Section 8.4.

Appears in 3 contracts

Samples: 364 Day Credit Agreement (Maxim Group Inc /), Credit Agreement (Maxim Group Inc /), Credit Agreement (Maxim Group Inc /)

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its legal existence, rights, franchises and authority, except to the extent otherwise permitted hereunder. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (American Healthcare REIT, Inc.), Credit Agreement (American Healthcare REIT, Inc.), Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

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Preservation of Existence and Franchises. Each of the Credit Party shall, and shall cause each of its Subsidiaries to, Parties will do all things necessary to preserve and keep in full force and effect its legal existence, material rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Inex Corp), Credit Agreement (Speedway Motorsports Inc)

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, will do all things necessary to preserve and keep (and will cause each of its Subsidiaries to keep) in full force and effect its legal existence, rights, franchises and authority. Each Credit Party shall remain qualified , except for corporate reorganizations and in good standing in each jurisdiction in other similar transactions which the failure could not reasonably be expected to so qualify and be in good standing could have a Material Adverse Effect.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Nacco Industries Inc), Credit Agreement (Nacco Industries Inc)

Preservation of Existence and Franchises. Each Credit Party shallwill, and shall will cause each of its Subsidiaries to, do all things necessary to preserve (a) preserve, renew and keep maintain in full force and effect its legal existence, existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.06; (b) take all reasonable action to maintain all rights, franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which the failure to so qualify and be in good standing could have a Material Adverse Effect.privileges, permits, licenses and

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

Preservation of Existence and Franchises. Each Credit Party shall, and shall cause each of its Subsidiaries to, will do all things necessary to preserve and keep in full force and effect its legal existence, rights, existence and the rights and franchises and authority. Each Credit Party shall remain qualified and in good standing in each jurisdiction in which material to the failure to so qualify and be in good standing could have a Material Adverse Effectconduct of its business.

Appears in 1 contract

Samples: Credit Agreement (Vestar Sheridan Inc)

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