Common use of Corporate Existence and Maintenance of Properties Clause in Contracts

Corporate Existence and Maintenance of Properties. Borrower shall maintain and preserve its corporate existence and all rights, privileges and franchises now enjoyed; and Borrower shall conduct its business in an orderly, efficient and customary manner, keep its properties in good working order and condition, and from time to time make all needed repairs to, renewals of or replacements of its properties (except to the extent that any of such properties is obsolete or is being replaced) so that the efficiency of such property shall be fully maintained and preserved. Borrower shall file or cause to be filed in a timely manner all reports, applications and licenses which shall be required by any governmental authority and which, if not timely filed, would have a material adverse effect on Borrower, the Collateral or the Realty.

Corporate Existence and Maintenance of Properties. Borrower The Debtor shall maintain and preserve its corporate existence and all rights, privileges and franchises now enjoyed; and Borrower the Debtor shall conduct its business in an orderly, efficient and customary manner, keep its properties in good working order and condition, and from time to time make all needed repairs to, renewals of or replacements of its properties (except to the extent that any of such properties is obsolete or is being replaced) so that the efficiency of such property shall be fully maintained and preserved. Borrower The Debtor shall file or cause to be filed in a timely manner all reports, applications applications, estimates and licenses which shall be required by any governmental authority and which, if not timely filed, would have a material adverse effect on Borrower, the Collateral or the RealtyMaterial Adverse Effect.