Common use of Corporate Existence; Foreign Qualification Clause in Contracts

Corporate Existence; Foreign Qualification. Do and cause to be done at all times all things necessary to (i) maintain and preserve its (a) existence as a corporation, limited liability company or partnership, as applicable, and (b) power and authority to own its properties and to carry on its business, (ii) be duly qualified to do business and in good standing as a foreign corporation in each jurisdiction where the nature of its business makes such qualification necessary, except where the failure to so qualify is not reasonably likely to have a Material Adverse Effect and (iii) comply with all Contractual Obligations and Requirements of Law binding upon it, except to the extent that the failure to comply therewith is not reasonably likely to, in the aggregate, have a Material Adverse Effect.

Appears in 6 contracts

Samples: Master Motor Vehicle Lease and Servicing Agreement (Vanguard Car Rental Group Inc.), Master Motor Vehicle Lease And (Vanguard Car Rental Group Inc.), Vehicle Lease and Servicing Agreement (Anc Rental Corp)

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Corporate Existence; Foreign Qualification. Do and cause to be done at all times all things necessary to (ia) maintain and preserve its (a) existence as a corporationcorporate existence, limited liability company or partnership, as applicable, and (b) power and authority to own its properties and to carry on its business, (ii) be duly qualified to do business and in good standing as a foreign corporation in each jurisdiction where the nature of its business makes such qualification necessary, except any such jurisdiction where the failure to so qualify is would not have a reasonably likely to have probability of having a Material Adverse Effect (which jurisdictions shall include, without limitation, those jurisdictions listed in Part I of SCHEDULE VII) and (iiic) comply with all Contractual Obligations and Requirements of Law binding upon itsuch entity, except to the extent that the failure to comply therewith is would not reasonably likely to, in the aggregate, have a Material Adverse Effect.

Appears in 1 contract

Samples: Secured Credit Agreement (General Housing Inc)

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