Legal Existence and Good Standing. Except as allowed by Section 7.9, each Obligated Party shall maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect.
Appears in 3 contracts
Samples: Credit Agreement (Txi Cement Co), Credit Agreement (Texas Petrochemical Holdings Inc), Credit Agreement (Daisytek International Corporation /De/)
Legal Existence and Good Standing. Except as allowed by Section 7.98.9, each Obligated Party shall maintain (i) its legal existence and good standing in the jurisdiction of its formation, incorporation, or organization and (ii) its qualification and good standing in all other jurisdictions in which the failure to maintain such existence qualification and qualification or good standing could reasonably be expected to have a Material Adverse Effect. No Obligated Party shall change the jurisdiction of its formation, incorporation, or organization or change its type of entity as identified on Schedule 7.3 without the prior written consent of the Agents.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ahern Rentals Inc), Loan and Security Agreement (Ahern Rentals Inc)
Legal Existence and Good Standing. Except as allowed by Section 7.9, each Each Obligated Party shall, and shall cause each of its Subsidiaries to, maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect.
Appears in 1 contract
Legal Existence and Good Standing. Except as allowed by Section 7.98.9, each Obligated Party shall maintain (a) its legal existence and good standing in the jurisdiction of its formation, incorporation, or organization and (b) its qualification and good standing in all other jurisdictions in which the failure to maintain such existence qualification and qualification or good standing could reasonably be expected to have a Material Adverse Effect. No Obligated Party shall change the jurisdiction of its formation, incorporation, or organization or change its type of entity as identified on Schedule 7.3 without the prior written consent of the Administrative Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Mercury Air Group Inc)
