Common use of Maintenance of Corporate Separateness Clause in Contracts

Maintenance of Corporate Separateness. Holdings will, and will cause each of its Subsidiaries to, satisfy customary corporate formalities, including the maintenance of corporate records. Neither the Borrower nor any Subsidiary of the Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) in respect of any liability of Holdings, and no bank account of Holdings shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrower. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings from the Borrower and each of the Borrower's 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 corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower being substantively consolidated with those of Holdings in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings will, and will ------------------------------------- cause the Borrower and each of its the Borrower's Subsidiaries to, satisfy customary corporate formalities, including the maintenance of corporate and/or partnership records. Neither the Borrower nor any Subsidiary of the Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) in respect of any liability of Holdings, and no bank account of Holdings shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrower. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings from the Borrower and each of the Borrower's 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 corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower being substantively consolidated with those of Holdings in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings will, and will cause each of its Subsidiaries to, satisfy customary corporate formalities, including the maintenance of corporate records. Neither the Borrower nor any Subsidiary of the Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax 52 60 Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) in respect of any liability of Holdings, and no bank account of Holdings shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrower. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings from the Borrower and each of the Borrower's 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 corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower being substantively consolidated with those of Holdings in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings will, and will cause each of its Subsidiaries to, satisfy customary corporate formalities, including the maintenance of corporate records. Neither the any Borrower nor any Subsidiary of the any Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement Document or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) in respect of any liability of Holdings, and no bank account of Holdings shall be commingled with any bank account of the any Borrower or any Subsidiary of the any Borrower. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings from the each Borrower and each of the Borrower's Subsidiaries. Finally, neither the any Borrower nor any Subsidiary of its Subsidiaries any Borrower shall take any action, or conduct its affairs in a manner, which is likely to result in the corporate existence of Holdings on the one hand and of the any Borrower or any Subsidiary of the any Borrower on the other hand being ignored, or in the assets and liabilities of the any Borrower or any Subsidiary of the any Borrower being substantively consolidated with those of Holdings in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings will, and will cause each of its Subsidiaries and Unrestricted Subsidiaries to, satisfy customary corporate 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 corporate offices and records. Neither the Borrower Holdings nor any Subsidiary of the Borrower its Subsidiaries shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) Unrestricted Subsidiaries in respect of any liability of Holdingsany Unrestricted Subsidiaries, and no bank account of Holdings any Unrestricted Subsidiary shall be commingled with any bank account of the Borrower or Holdings of any Subsidiary of the Borrowerits Subsidiaries. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, any Unrestricted Subsidiaries shall clearly establish or indicate the corporate separateness of such Unrestricted Subsidiary from Holdings from the Borrower and each of the Borrower's its 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 corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand its Subsidiaries or Unrestricted Subsidiaries being ignored, or in the assets and liabilities of the Borrower Holdings or any Subsidiary of the Borrower its Subsidiaries being substantively consolidated with those of Holdings any other such Person or any Unrestricted Subsidiary in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings Holding and the Borrower will, ------------------------------------- and will cause each of its the Borrower's Subsidiaries to, satisfy customary corporate formalities, including the holding of regular board of directors' and shareholders' meetings and the maintenance of corporate offices and records. Neither the Borrower nor any Subsidiary of the Borrower its Subsidiaries shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) Holding in respect of any liability of HoldingsHolding, and no bank account of Holdings Holding shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrowerits Subsidiaries. Any financial statements distributed to any creditors of Holdings Holding shall, to the extent permitted by GAAP, clearly establish state the corporate separateness of Holdings Holding from the Borrower and each of the Borrower's its Subsidiaries. Finally, neither the Borrower Holding nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand Holding being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower its Subsidiaries being substantively consolidated with those of Holdings Holding in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings The Borrower will, and will cause each of its Subsidiaries to, satisfy customary corporate 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 corporate offices and records. Neither the Borrower nor any Subsidiary of the Borrower its respective Restricted Subsidiaries shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) Unrestricted Subsidiaries in respect of any liability of Holdingsany Unrestricted Subsidiaries, and no bank account of Holdings any Unrestricted Subsidiary shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrowerits respective Restricted Subsidiaries. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, any Unrestricted Subsidiaries shall clearly establish or indicate the corporate separateness of Holdings such Unrestricted Subsidiary from the Borrower and each of the Borrower's its respective Restricted 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 corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand its Subsidiaries being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower its respective Restricted Subsidiaries being substantively consolidated with those of Holdings any Unrestricted Subsidiaries in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings Holding and the Borrower will, and will cause each of its the Borrower’s Subsidiaries to, satisfy customary corporate formalities, including the holding of regular board of directors’ and shareholders’ meetings and the maintenance of corporate offices and records. Neither Except in accordance with and pursuant to the Merger Agreement and the Exchange Agreement, neither the Borrower nor any Subsidiary of the Borrower its Subsidiaries shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) Holding in respect of any liability of HoldingsHolding, and no bank account of Holdings Holding shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrowerits Subsidiaries. Any financial statements distributed to any creditors of Holdings Holding shall, to the extent permitted by GAAP, clearly establish state the corporate separateness of Holdings Holding from the Borrower and each of the Borrower's its Subsidiaries. Finally, neither the Borrower Holding nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand Holding being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower its Subsidiaries being substantively consolidated with those of Holdings Holding in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings Borrower will, and will cause each of its Subsidiaries to, satisfy customary corporate formalities, including the holding of regular board of directors' and shareholders' meetings and the maintenance of corporate offices and records. Neither the Borrower nor any other Subsidiary of the Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) BTITC in respect of any liability of HoldingsBTITC, and no bank account of Holdings BTITC shall be commingled with any bank account of the any Borrower or any other Subsidiary of the Borrower. Any financial statements distributed to any creditors of Holdings BTITC shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings BTITC from the Borrower and each of the BorrowerBTITC's Subsidiariesother Subsidiaries (if any). Finally, neither the Borrower nor any Subsidiary of its Subsidiaries Borrower shall take any action, or conduct its affairs in a manner, which is likely to result in the separate corporate existence of Holdings on the one hand and BTITC from that of the any or all of Borrower or any Subsidiary of the Borrower on the other hand being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower being substantively consolidated with those of Holdings BTITC in a bankruptcy, reorganization or other insolvency proceedingproceedings.

Maintenance of Corporate Separateness. Holdings Holding and the Borrower ------------------------------------- will, and will cause each of its the Borrower's Subsidiaries to, satisfy customary corporate formalities, including the holding of regular board of directors' and shareholders' meetings and the maintenance of corporate offices and records. Neither the Borrower nor any Subsidiary of the Borrower its Subsidiaries shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) Holding in respect of any liability of HoldingsHolding, and no bank account of Holdings Holding shall be commingled with any bank account of the Borrower or any Subsidiary of the Borrowerits Subsidiaries. Any financial statements distributed to any creditors of Holdings Holding shall, to the extent permitted by GAAP, clearly establish state the corporate separateness of Holdings Holding from the Borrower and each of the Borrower's its Subsidiaries. Finally, neither the Borrower Holding nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in the corporate existence of Holdings on the one hand and of the Borrower or any Subsidiary of the Borrower on the other hand Holding being ignored, or in the assets and liabilities of the Borrower or any Subsidiary of the Borrower its Subsidiaries being substantively consolidated with those of Holdings Holding in a bankruptcy, reorganization or other insolvency proceeding.

Maintenance of Corporate Separateness. Holdings will, and will ------------------------------------- cause each of its Subsidiaries to, satisfy customary corporate formalities, including the maintenance of corporate records. Neither the any Borrower nor any Subsidiary of the any Borrower shall make any payment to a creditor of Holdings (other than a Guaranteed Creditor pursuant to any Credit Document, Tax Sharing Agreement Document or an Interest Rate Protection Agreement or Other Hedging Agreement entered into with any such Guaranteed Creditor) in respect of any liability of Holdings, and no bank account of Holdings shall be commingled with any bank account of the any Borrower or any Subsidiary of the any Borrower. Any financial statements distributed to any creditors of Holdings shall, to the extent permitted by GAAP, clearly establish the corporate separateness of Holdings from the each Borrower and each of the Borrower's Subsidiaries. Finally, neither the any Borrower nor any Subsidiary of its Subsidiaries any Borrower shall take any action, or conduct its affairs in a manner, which is likely to result in the corporate existence of Holdings on the one hand and of the any Borrower or any Subsidiary of the any Borrower on the other hand being ignored, or in the assets and liabilities of the any Borrower or any Subsidiary of the any Borrower being substantively consolidated with those of Holdings in a bankruptcy, reorganization or other insolvency proceeding.