Common use of Existence and Status Clause in Contracts

Existence and Status. Maintain and preserve and cause each Subsidiary to maintain and preserve its existence as a limited partnership, limited liability company or corporation, as applicable, in its state of formation and all rights, privileges, licenses, copyrights, trademarks, trade names, franchises and other authority to the extent material and necessary for the conduct of its business in the ordinary course as conducted from time to time. Such Borrower shall not take any action or suffer any action to be taken by others and will not permit any Subsidiary to take any action or suffer any action which will alter, change or destroy its status as a limited partnership, limited liability company or corporation;

Existence and Status. Maintain and preserve and cause each Subsidiary of their respective Subsidiaries to maintain and preserve its existence as a limited partnership, limited liability company or corporation, as applicable, in its state of formation and all rights, privileges, licenses, copyrights, trademarks, trade names, franchises and other authority to the extent material and necessary for the conduct of its business in the ordinary course as conducted from time to time. Such Borrower Borrowers shall not take any action or suffer any action to be taken by others and will not permit any Subsidiary of their respective Subsidiaries to take any action or suffer any action which will alter, change or destroy its status as a limited partnership, limited liability company or corporation;