Common use of Maintenance of Company Separateness Clause in Contracts

Maintenance of Company Separateness. Holdings will, and will cause each of its Subsidiaries to, satisfy customary company formalities, including, as applicable, (i) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, (ii) the maintenance of separate company offices and records and (iii) the maintenance of separate bank accounts in its own name. Neither 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 or any of its Subsidiaries being ignored, or in the assets and liabilities of Holdings or any of its Subsidiaries being substantively consolidated with those of any other such Person in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Company Separateness. Holdings Parent will, and will cause each of its Subsidiaries to, satisfy customary company Company formalities, including, as applicable, (i) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders without a meeting, (ii) the maintenance of separate company Company offices and records and (iii) the maintenance of separate bank accounts in its own name. Neither Holdings 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 Company existence of Holdings Parent or any of its Subsidiaries being ignored, or in the assets and liabilities of Holdings Parent or any of its Subsidiaries being substantively consolidated with those of any other such Person in a bankruptcy, reorganization or other insolvency proceeding.