Common use of Existence; Properties Clause in Contracts

Existence; Properties. Except to the extent otherwise permitted by Section 6.5, each Obligor shall do, or cause to be done, all things necessary to: (a) preserve and keep in full force and effect each Obligor’s legal existence; (b) ensure that each Obligor remains or becomes a corporation, limited liability company or limited partnership, as the case may be, qualified to engage in business and in good standing in all jurisdictions in which the character of its properties or the transaction of its business make such qualification necessary; (c) maintain, preserve and protect all permits, rights and privileges necessary for the proper conduct of each Obligor’s business and all franchises, licenses, patents, trade names, trademarks and copyrights owned by or licensed to it that are necessary or desirable in the normal conduct of such Obligor’s business; and (d) ensure that the property used or useful in the conduct of any Obligor’s business is maintained and kept in good repair, working order and condition, and from time to time take all reasonable action to make, or cause to be made, all needful and proper repairs, renewals, replacements, betterments and improvements thereto so that, in the reasonable judgment of the Borrower, the business carried on in connection therewith may be properly and advantageously conducted.