Common use of Preservation of Existence and Franchises Clause in Contracts

Preservation of Existence and Franchises. Each Credit Party will, and will cause each Subsidiary to, do all things necessary to preserve and keep in full force and effect its existence and rights, franchises and authority; provided, however, that, subject to Section 8.3, a Credit Party shall not be required to preserve any such existence, right or franchise if it in good faith determines that preservation thereof is no longer necessary or desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Lenders.

Preservation of Existence and Franchises. Each Credit Party will, and will cause each Subsidiary to, do all things necessary to preserve and keep in full force and effect its existence and rights, franchises and authority; provided, however, that, subject to Section 8.3, a no Credit Party or Subsidiary shall not be required to preserve any such existence, right or franchise if it in good faith determines that preservation thereof is no longer necessary or desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Lenders.

Preservation of Existence and Franchises. Each Except as a result of or in connection with a dissolution, merger or disposition of a Subsidiary not prohibited by Section 8.3 or Section 8.4, each Credit Party will, and will cause each Subsidiary of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its existence and existence, rights, franchises and authority; provided, however, that, subject to Section 8.3, a . Each Credit Party shall not be required to preserve any such existence, right or franchise if it remain qualified and in good faith determines that preservation thereof is no longer necessary or desirable standing in each jurisdiction in which the conduct of its business failure to so qualify and that the loss thereof is not disadvantageous be in any material respect to the Lenders.good standing could have a Material Adverse Effect

Preservation of Existence and Franchises. Each Credit Party will, and will cause each Subsidiary to, do all things necessary to preserve and keep in full force and effect its existence and rights, franchises and authority; provided, however, that, subject to Section 8.3, a Credit Party shall not be required to preserve any such 56 Spectra Energy Partners OLP, LP Credit Agreement existence, right or franchise if it in good faith determines that preservation thereof is no longer necessary or desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Lenders.

Preservation of Existence and Franchises. Each Credit Party will, and will cause each Subsidiary to, do all things necessary to preserve and keep in full force and effect its existence and rights, franchises and authority; provided, however, that, subject to Section 8.3, a Credit Party shall not be required to preserve any such Spectra Energy Partners OLP, LP Credit Agreement existence, right or franchise if it in good faith determines that preservation thereof is no longer necessary or desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Lenders.

Preservation of Existence and Franchises. Each Such Credit Party will, will do (and the Borrower will cause each Subsidiary to, do of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its (a) existence and (b) to the extent material to the conduct of the business of such Credit Party or any of the Material Subsidiaries of the Borrower, its rights, franchises and authority; authority; provided, however, that, subject to that nothing in this Section 8.3, a Credit Party 7.2 shall not be required to preserve any such existence, right or franchise if it in good faith determines that preservation thereof is no longer necessary or desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Lenders.prevent