Common use of Legal Existence; Maintenance of Properties Clause in Contracts

Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreement. It (a) will cause all of its properties and those of its Subsidiaries material to the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, and supplied with all necessary equipment, (b) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (c) will continue to engage primarily in the businesses now conducted by them and in related businesses; provided, that nothing in this Section 8.6 shall prevent the Borrower from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does not in the aggregate have a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (SeaCube Container Leasing Ltd.), Credit Agreement (SeaCube Container Leasing Ltd.), Credit Agreement (Seacastle Inc.)

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Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things reasonably necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreementfranchises and that of its Subsidiaries. It (ai) will cause all of its properties and those of its Subsidiaries material to used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, order and supplied with all necessary equipment, (bii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (ciii) will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in related businesses; provided, provided that nothing in this Section 8.6 8.5 shall prevent the Borrower from discontinuing the operation and maintenance of any of its properties or any of those of its Subsidiaries if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does that do not in the aggregate have a Material Adverse Effect.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc)

Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreementfranchises and those of its Subsidiaries. It (ai) will cause all of its properties and those of its Subsidiaries material to used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, order and supplied with all necessary equipment, (bii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (ciii) will continue to engage primarily in the businesses now conducted by them and in related businesses; provided, provided that nothing in this Section 8.6 6.6 shall prevent the Borrower from discontinuing the operation of any Subsidiary or the operation and maintenance of any of its properties or any of those of its Subsidiaries if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does that do not in the aggregate have a Material Adverse Effect.

Appears in 2 contracts

Samples: Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)

Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreementfranchises and those of its Subsidiaries. It (a) will cause all of its properties and those of its Subsidiaries material to used or useful in the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, order and supplied with all necessary equipment, (b) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (c) will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in related businesses; provided, provided that nothing in this Section 8.6 shall prevent the Borrower from discontinuing the operation and maintenance of any of its properties or any of those of its Subsidiaries if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does that do not in the aggregate have materially adversely affect the business of the Borrower and its Subsidiaries on a Material Adverse Effectconsolidated basis.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cabot Corp)

Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreement. It The Borrower (a) will cause all of its properties and those of its Subsidiaries material to the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, and supplied with all necessary equipment, (b) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (c) will continue to engage primarily in the businesses now conducted by them and in related businesses; provided, that nothing in this Section 8.6 shall prevent the Borrower from discontinuing the operation and maintenance of any of its properties if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does not in the aggregate have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (CAI International, Inc.)

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Legal Existence; Maintenance of Properties. The Borrower will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreementfranchises and those of its Subsidiaries. It (ai) will cause all of its properties and those of its Subsidiaries material to necessary for the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, order and supplied with all necessary equipment, (bii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Borrower may be necessary so that such property will be able to serve the business carried on in connection therewith may be properly and advantageously conducted at all timesfunctions for which they are currently being used, and (ciii) will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in similar or related businesses; provided, provided that nothing in this Section 8.6 (S)8.6 shall prevent the Borrower from discontinuing the operation and maintenance of any of its properties or any of those of its Subsidiaries if such discontinuance is, in the judgment of the Borrower, desirable in the conduct of its or their business and does will not in the aggregate have a Material Adverse Effect.

Appears in 1 contract

Samples: Revolving Credit Agreement (Barnes Group Inc)

Legal Existence; Maintenance of Properties. The Borrower Each of the Borrowers will do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence, rights and franchises, except as otherwise contemplated or not prohibited by this Credit Agreementfranchises and those of its Subsidiaries. It Each of the Borrowers (ai) will cause all of its properties and those of its Subsidiaries material to necessary for the conduct of its business or the business of its Subsidiaries to be maintained and kept in good condition, repair and working order, ordinary wear and tear excepted, order and supplied with all necessary equipment, (bii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the such Borrower may be necessary so that such property will be able to serve the business carried on in connection therewith may be properly and advantageously conducted at all timesfunctions for which they are currently being used, and (ciii) will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in similar or related businesses; provided, provided that nothing in this Section §8.6 shall prevent any of the Borrower Borrowers from discontinuing the operation and maintenance of any of its properties or any of those of its Subsidiaries if such discontinuance is, in the judgment of the such Borrower, desirable in the conduct of its or their business and does will not in the aggregate have a Material Adverse Effect.

Appears in 1 contract

Samples: Revolving Credit Agreement (Barnes Group Inc)

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