Common use of Seller’s Existence Clause in Contracts

Seller’s Existence. So long as any of the Transition Bonds are outstanding, the Seller shall keep in full force and effect its existence as a corporation and remain in good standing under the laws of the jurisdiction of its organization, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or will be necessary to protect the validity and enforceability of this Sale Agreement and each other instrument or agreement to which the Seller is a party necessary to the proper administration of this Sale Agreement and the transactions contemplated hereby.

Appears in 2 contracts

Samples: Sale Agreement (Jcp&l Transition Funding LLC), Sale Agreement (Jcp&l Transition Funding LLC)

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Seller’s Existence. So long as any of the Transition Bonds are outstanding, the Seller shall keep in full force and effect its existence as a corporation and remain in good standing under the laws of the jurisdiction of its organization, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or will be necessary to protect the validity and enforceability of this Sale Agreement and each other instrument or agreement to which the Seller is a party necessary to the proper administration of this Sale Agreement and the transactions contemplated hereby.

Appears in 2 contracts

Samples: Sale Agreement (Pse&g Transition Funding LLC), Sale Agreement (Pse&g Transition Funding LLC)

Seller’s Existence. So Except as provided in Section 5.02 hereof, and for so long as any of the Transition Bonds are outstanding, the Seller shall keep in full force and effect its existence as a corporation and remain in good standing under the laws of the jurisdiction of its organization, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or will be necessary to protect the validity and enforceability of this Sale Agreement and each other instrument or agreement to which the Seller is a party necessary to the proper administration of this Sale Agreement and the transactions contemplated hereby.

Appears in 2 contracts

Samples: Sale Agreement (JCP&L Transition Funding II LLC), Sale Agreement (JCP&L Transition Funding II LLC)

Seller’s Existence. So Subject to Section 5.02, so long as any of the Transition Bonds are is outstanding, the Seller shall keep in full force and effect its existence as a corporation and remain in good standing under the laws of the jurisdiction state of its organization, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or will be necessary to protect the validity and enforceability of this Sale Agreement and each other instrument or agreement to which the Seller is a party necessary to the proper administration of this Sale Agreement and the transactions contemplated hereby.

Appears in 1 contract

Samples: Transition Property Sale Agreement (Reliant Energy Transition Bond Co LLC)

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Seller’s Existence. So long as any of the Transition Bonds are outstanding, the Seller shall keep in full force and effect its existence as a corporation limited liability company and remain in good standing standing, under the laws of the jurisdiction of its organization, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or will be necessary to protect the validity and enforceability of this Sale Agreement and each other instrument or agreement to which the Seller is a party necessary to the proper administration of this Sale Agreement and the transactions contemplated hereby.

Appears in 1 contract

Samples: Intangible Transition Property Sale Agreement (Pp&l Transition Bond Co Inc)

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