Corporate or Limited Liability Company Existence. Each Borrower shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its corporate or limited liability company (as applicable) existence (except as otherwise may be permitted by Section 8.6 hereof) and all rights, licenses, permits and franchises, the termination of which would have a Material Adverse Effect; comply with all laws, regulations, ordinances, rules and orders applicable to it, noncompliance with which would have a Material Adverse Effect; conduct and operate its business in substantially the manner in which it is presently conducted and operated without material alteration or change in the nature of such business; at all times maintain and preserve all property used or useful in the conduct of its business and keep the same in appropriate repair and condition, and from time to time make, or cause to be made, all appropriate repairs, renewals and replacements thereto, so that the business carried on in connection therewith may be properly conducted at all times.
Corporate or Limited Liability Company Existence. Section 6.2 of the Loan Agreement is hereby deleted in its entirety and restated as follows:
Corporate or Limited Liability Company Existence. Preserve, maintain and keep in full force and effect its corporate or limited liability existence and good standing in the jurisdiction of its formation. Notwithstanding the above, Lender waives, on a one time basis, any breach of this Section as a result of the Merger.”
Corporate or Limited Liability Company Existence. Each Borrower shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its corporate or limited liability company (as applicable) existence (except as otherwise may be permitted by Section 8.6 hereof) and all rights, licenses, permits and franchises, the termination of which would have a Material Adverse Effect; comply with all laws, regulations, ordinances, rules and orders applicable to it, noncompliance with which would have a Material Adverse Effect; conduct and operate its business in substantially the manner in which it is presently conducted and operated without material alteration or change in the nature of such business; at all times maintain and preserve all property used or useful in the conduct of its business and keep the same in appropriate repair and condition, and from time to time make, or cause to be made, all appropriate repairs, renewals and replacements thereto, so that the business carried on in connection therewith may be properly conducted at all times. MFC will maintain in full force and effect its status as a registered investment company. MFC will not at any time withdraw its election to be a business development corporation under the 1940 Act unless it first shall have delivered to the Agent and the Banks a legal opinion from counsel to MFC satisfactory to MFC and in form and substance satisfactory to the Agent that states that such withdrawal shall not have an adverse effect on the validity or enforceability of the Loan Documents or the legality of the joint and several nature of the Borrowers' liability under the Loan Documents, or otherwise adversely effect the Borrowers' compliance with the 1940 Act.
