Common use of Section 1005 Corporate Existence Clause in Contracts

Section 1005 Corporate Existence. Subject to Article Eight, each of the Operating Partnership and any Guarantor will do or cause to be done all things necessary to preserve and keep in full force and effect its (i) existence, and (ii) rights (charter and statutory) and franchises; provided, that neither the Operating Partnership nor any Guarantor shall be required to preserve any such right or franchise if the Board of Directors (or any duly authorized committee of that Board of Directors), as applicable, shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Operating Partnership or any Guarantor, as applicable.

Section 1005 Corporate Existence. Subject to Article Eight, each of the Operating Partnership and any Guarantor will do or cause to be done all things necessary to preserve and keep in full force and effect its (i) existence, and (ii) rights (charter and statutory) and franchises; provided, that neither the Operating Partnership nor any Guarantor shall be required to preserve any such right or franchise if the Board of Directors Trustees (or any duly authorized committee of that Board of DirectorsTrustees), as applicable, shall determine that the preservation thereof of the right or franchise is no longer desirable in the conduct of the business of the Operating Partnership or any Guarantor, as applicable.