Common use of Borrower Existence Clause in Contracts

Borrower Existence. Each Borrower shall at all times preserve and ------------------- maintain (a) its existence and good standing in the jurisdiction of its organization, and (b) its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary (other than such jurisdictions in which the failure to be qualified or in good standing would not reasonably be expected to have Material Adverse Effect). Borrower shall at all times continue as a going concern in a Permitted Business provided any Borrower may merge with or into another Borrower so long as, if KMS is a party to the merger, KMS is the survivor. If a Borrower does not have an Organizational Identification Number and later obtains one, such Borrower shall promptly notify the Lender of such Organizational Identification Number.