Common use of Maintenance of Company Separateness Clause in Contracts

Maintenance of Company Separateness. The Borrower will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Company will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including (to the maximum extent required under applicable Business laws) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company Business records. Neither the Borrower Company nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank lender account of any Non-Guarantor Subsidiary shall be commingled with any bank lender account of the Borrower Company or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Company and its other Subsidiaries. Finally, neither the Borrower Company nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerCompany, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Company or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower will, and ----------------------------------- will cause each of its Subsidiaries and Unrestricted Subsidiaries to, satisfy customary Company formalities, including including, as applicable, the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company offices and records. Neither the Borrower nor any other Credit Party of its Subsidiaries shall make any payment to a creditor of any Non-Guarantor Unrestricted Subsidiary in respect of any liability of any Non-Guarantor Unrestricted Subsidiary, and no bank account of any Non-Guarantor Unrestricted Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Partyof its Subsidiaries. Any financial statements distributed to any creditors of any Non-Guarantor Unrestricted Subsidiary shall clearly establish or indicate the corporate Company separateness of such Non-Guarantor Unrestricted Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor Borrower or any Non-Guarantor of its Subsidiaries or Unrestricted Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party of its Subsidiaries being substantively consolidated with those of any other such Person or any Non-Guarantor Unrestricted Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding; provided, that no Foreign Credit Party organized under the laws of Bermuda shall be bound by the provisions of the last sentence of this Section 8.16.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the U.S. Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Xxx- Xxxxxxxxx Subsidiary shall be commingled with any bank account of the U.S. Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the U.S. Borrower and its other Subsidiaries. Finally, neither the U.S. Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the U.S. Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries Subsidiary being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower will, and will cause each of its Subsidiaries to, Subsidiary and each SPV to satisfy customary Company formalitiesformalities for such entity, including including, as applicable (a) to the extent required by law, the holding of regular board of members’, managers’, directors’ and shareholders’ meetings or action by members, managers, directors or shareholders without a meeting and meeting, (b) the maintenance of Company recordsseparate books and records and (c) the maintenance of separate bank accounts in its own name. Neither the Borrower nor any other Credit Party of its Subsidiaries shall make any payment to a creditor of any Non-Guarantor Subsidiary SPV in respect of any liability of any Non-Guarantor SubsidiarySPV, unless expressly permitted hereunder, and no SPV’s bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Partyof its Subsidiaries. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary SPV shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary SPV from the Borrower and its other Subsidiaries. Finally, neither the Neither Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company separate legal existence of the Borrower, Borrower or any Subsidiary Guarantor or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party Subsidiary being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non- Guarantor Subsidiary (other than (x) pursuant to Holdings’ guaranty of Endeavour Energy Luxembourg S.a.r.l.’s obligations under the 11.5% Convertible Bonds and (y) any guaranty by Holdings or such other Credit Party of intercompany Indebtedness of any such Non-Guarantor SubsidiarySubsidiary owing to Holdings or any of its Subsidiaries), and no bank account of any Non-Non Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries and Unrestricted Subsidiaries to, satisfy customary Company corporate formalities, including the holding of regular annual board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company corporate records. Neither the Borrower No Credit Agreement Party nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Unrestricted Subsidiary or any other Subsidiary which is not a Qualified Obligor in respect of any liability of any Non-Guarantor Subsidiarysuch Person, and no bank account of any Non-Guarantor Unrestricted Subsidiary or any other Subsidiary which is not a Qualified Obligor shall be commingled with any bank account of the Borrower Canadian Parent or any other Credit PartySubsidiary thereof. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary Credit Party shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary Credit Party from the Borrower Canadian Parent and its other Subsidiaries. Finally, neither none of the Borrower nor Credit Agreement Parties or any of its their Subsidiaries shall take any action, or conduct its or their affairs in a manner, manner which is reasonably likely to result in the Company corporate or other existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor or any Non-Guarantor of their respective Subsidiaries or Unrestricted Subsidiaries, being ignored, or in the assets and liabilities of the Borrower Canadian Parent or any other Credit Party Parties being substantively consolidated with those of any other such Person or any Non-Guarantor Unrestricted Subsidiary or Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Each Borrower will, and will cause each of its Subsidiaries to, satisfy in all material respects customary Company formalities, including the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the U.S. Borrower nor any other Credit Party shall make any material payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the U.S. Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the U.S. Borrower and its other Subsidiaries. Finally, neither the U.S. Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the either Borrower, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the U.S. Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor SubsidiarySubsidiary (other than (x) pursuant to Holdings’ guarantee of Endeavour Energy Luxembourg S.à.x.x.’s obligations under the 11.5% Convertible Bonds and (y) any guarantee by Holdings or such other Credit Party of intercompany Indebtedness of any such Non-Guarantor Subsidiary owing to Holdings or any of its Subsidiaries), and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower (a) Each Credit Agreement Party will, and will cause each of its Subsidiaries and Unrestricted Subsidiaries to, satisfy customary Company formalities, including including, as applicable, the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company offices and records. Neither the Borrower any Credit Agreement Party nor any other Credit Party of its Subsidiaries shall make any payment to a creditor of any Non-Guarantor Unrestricted Subsidiary in respect of any liability of any Non-Guarantor Unrestricted Subsidiary, and no bank account of any Non-Guarantor Unrestricted Subsidiary shall be commingled with any bank account of the Borrower any Credit Agreement Party or any other Credit Partyof its Subsidiaries. Any financial statements distributed to any creditors of any Non-Guarantor Unrestricted Subsidiary shall clearly establish or indicate the corporate Company separateness of such Non-Guarantor Unrestricted Subsidiary from the Borrower each Credit Agreement Party and its other Subsidiaries. Finally, neither the Borrower any Credit Agreement Party nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor such Credit Agreement Party or any Non-Guarantor of its Subsidiaries or Unrestricted Subsidiaries being ignored, or in the assets and liabilities of the Borrower such Credit Agreement Party or any other Credit Party of its Subsidiaries being substantively consolidated with those of any other such Person or any Non-Guarantor Unrestricted Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Payer Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor SubsidiarySubsidiary (other than (a) pursuant to Holdings’ guarantee of Endeavour Energy Luxembourg S.à. x.x.’s obligations under the 11.5% Convertible Bonds and (b) any guarantee by Holdings or such other Payer Party of intercompany Indebtedness of any such Non-Guarantor Subsidiary owing to Holdings or any of its Subsidiaries), and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Payer Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Payer Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Payer Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor SubsidiarySubsidiary (other than (x) pursuant to Holdings’ guaranty of Endeavour Energy Luxembourg S.a.r.l.’s obligations under the 11.5% Convertible Bonds and (y) any guaranty by Holdings or such other Credit Party of intercompany Indebtedness of any such Non-Guarantor Subsidiary owing to Holdings or any of its Subsidiaries), and no bank account of any Non-Non Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Agreement Party will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Parent nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Parent or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower Parent nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrowerany Credit Agreement Party, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Parent or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Each Credit Party will, and will cause each of its Subsidiaries to, satisfy customary Company corporate, limited liability company or partnership formalities, as the case may be, including the holding of regular board of directors’ ' and shareholders’ ' meetings or action by directors or shareholders without a meeting and the maintenance of Company corporate, limited liability company or partnership, as the case may be, offices and records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor the Receivables Subsidiary in respect of any liability of any Non-Guarantor the Receivables Subsidiary, and no bank account of any Non-Guarantor the Receivables Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor the Receivables Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor the Receivables Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company corporate, limited liability company or partnership, as the case may be, existence of any Credit Party or the Borrower, any Receivables Subsidiary Guarantor or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor the Receivables Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate Company separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of Holdings, the Borrower, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries Subsidiary being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Endeavour Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Endeavour Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Endeavour Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Endeavour Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company Business records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Non Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the Borrower, any Subsidiary Guarantor other Credit Party or any Non-Non Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Non Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor SubsidiarySubsidiary (other than (x) pursuant to Holdings’ guarantee of EELux’s obligations under the 7.5% Convertible Bonds and (y) any guarantee by Holdings or such other Credit Party of intercompany Indebtedness of any such Non-Guarantor Subsidiary owing to Holdings or any of its Subsidiaries), and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Holdings will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board Board of directorsDirectors’ and shareholdersmembers’ meetings or action by directors managers or shareholders members without a meeting and the maintenance of Company Business records. Neither the Borrower Holdings nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Guarantor Subsidiary shall be commingled with any bank account of the Borrower Holdings or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Holdings and its other Subsidiaries. Finally, neither the Borrower Holdings nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerHoldings, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower (a) Each Credit Agreement Party will, and will cause each of its Subsidiaries and Unrestricted Subsidiaries to, satisfy customary Company formalities, including including, as applicable, the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company offices and records. Neither the Borrower any Credit Agreement Party nor any other Credit Party of its Subsidiaries shall make any payment to a creditor of any Non-Guarantor Unrestricted Subsidiary in respect of any liability of any Non-Guarantor Unrestricted Subsidiary, and no bank account of any Non-Guarantor Unrestricted Subsidiary shall be commingled with any bank account of the Borrower any Credit Agreement Party or any other Credit Partyof its Subsidiaries. Any financial statements distributed to any creditors of any Non-Guarantor Unrestricted Subsidiary shall clearly establish or indicate the corporate Company separateness of such Non-Guarantor Unrestricted Subsidiary from the Borrower each Credit Agreement Party and its other Subsidiaries. Finally, neither the Borrower any Credit Agreement Party nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the Borrower, any Subsidiary Guarantor such Credit Agreement Party or any Non-Guarantor of its Subsidiaries or Unrestricted Subsidiaries being ignored, or in the assets and liabilities of the Borrower such Credit Agreement Party or any other Credit Party of its Subsidiaries being substantively consolidated with those of any other such Person or any Non-Guarantor Unrestricted Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Each Borrower will, and will cause each of its Subsidiaries to, satisfy in all material respects customary Company formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company records. Neither the Borrower Exide U.S. nor any other Credit Party shall make any material payment to a creditor of any Non-Guarantor Credit Party Subsidiary in respect of any liability of any Non-Guarantor Credit Party Subsidiary, and no bank account of any Non-Guarantor Credit Party Subsidiary shall be commingled with any bank account of the Borrower Exide U.S. or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Credit Party Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Credit Party Subsidiary from the Borrower Exide U.S. and its other Subsidiaries. Finally, neither the Borrower Exide U.S. nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company existence of the any Borrower, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Credit Party Subsidiaries being ignored, or in the assets and liabilities of the Borrower Exide U.S. or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Credit Party Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company Business records. Neither the Borrower nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank account of any Non-Non Guarantor Subsidiary shall be commingled with any bank account of the Borrower or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower and its other Subsidiaries. Finally, neither the Borrower nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the Borrower, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. The Borrower Company will, and will cause each of its Subsidiaries to, satisfy customary Company Business formalities, including (to the maximum extent required under applicable Business laws) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting and the maintenance of Company Business records. Neither the Borrower Company nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no bank lender account of any Non-Guarantor Subsidiary shall be commingled with any bank lender account of the Borrower Company or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate the corporate separateness of such Non-Guarantor Subsidiary from the Borrower Company and its other Subsidiaries. Finally, neither the Borrower Company nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the Company Business existence of the BorrowerCompany, any Subsidiary Guarantor other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Borrower Company or any other Credit Party being substantively consolidated with those of any other such Person or any Non-Guarantor Non‑Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.