Common use of Separate Name; Separate Credit Clause in Contracts

Separate Name; Separate Credit. Obligors shall (i) conduct their respective businesses in their respective own names or in the names of their respective Restricted Subsidiaries and not in the name of any Unrestricted Subsidiary (including, without limitation, any MLP Subsidiary or Exclusive Entity), and (ii) generally hold themselves as entities separate from the Unrestricted Subsidiaries. Obligors shall cause Unrestricted Subsidiaries to, (A) conduct their respective businesses in their respective own names or in the names of their respective Subsidiaries and not in the name of any Obligor or their Restricted Subsidiaries, and (B) generally hold themselves as entities separate from Obligors and their Restricted Subsidiaries. Obligors shall, and shall cause Unrestricted Subsidiaries to, (1) pay their respective obligations and liabilities from their respective own funds (whether on hand or borrowed), and (2) maintain adequate capital in light of their respective business operations.

Appears in 5 contracts

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)

AutoNDA by SimpleDocs

Separate Name; Separate Credit. Obligors The Company Entities shall (i) conduct their respective businesses in their respective own names or in the names of their respective Restricted Subsidiaries and not in the name of any Unrestricted Subsidiary (including, without limitation, any MLP Subsidiary or Exclusive Entity), and (ii) generally hold themselves as entities separate from the Unrestricted Subsidiaries. Obligors The Company Entities shall cause Unrestricted Subsidiaries to, (A) conduct their respective businesses in their respective own names or in the names of their respective Subsidiaries and not in the name of any Obligor Company Entity or their Restricted Subsidiaries, and (B) generally hold themselves as entities separate from Obligors the Company Entities and their Restricted Subsidiaries. Obligors The Company Entities shall, and shall cause Unrestricted Subsidiaries to, (1) pay their respective obligations and liabilities from their respective own funds (whether on hand or borrowed), and (2) maintain adequate capital in light of their respective business operations.

Appears in 1 contract

Samples: Monetization Master Agreement (Calumet Specialty Products Partners, L.P.)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.