Common use of Preservation of Existence and Franchises Clause in Contracts

Preservation of Existence and Franchises. Such Borrower will do (and will cause each of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing in this Section 8.2 shall prevent any transaction otherwise permitted under Section 9.2 or Section 9.3 or any change in the form of organization (by merger or otherwise) of any Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s ability to perform its obligations hereunder.

Appears in 6 contracts

Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Virginia Electric & Power Co)

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Preservation of Existence and Franchises. Such Borrower will do (and will cause each of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing in this Section 8.2 7.2 shall prevent any transaction otherwise permitted under Section 9.2 8.2 or Section 9.3 8.3 or any change in the form of organization (by merger or otherwise) of any Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s ability to perform its obligations hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Virginia Electric & Power Co)

Preservation of Existence and Franchises. Such Borrower will do (and will cause each of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing in this Section 8.2 shall prevent any transaction otherwise permitted under Section 9.2 or Section 9.3 or any change in the form of organization (by merger or otherwise) of any Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s 's ability to perform its obligations hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Virginia Electric & Power Co), Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/)

Preservation of Existence and Franchises. Such Borrower will do (and will cause each of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing in this Section 8.2 7.2 shall prevent any transaction otherwise permitted under Section 9.2 8.2 or Section 9.3 8.3 or any change in the form of organization (by merger or otherwise) of any Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s 's ability to perform its obligations hereunder.

Appears in 2 contracts

Samples: Day Credit Agreement (Virginia Electric & Power Co), Day Credit Agreement (Dominion Resources Inc /Va/)

Preservation of Existence and Franchises. Such The Borrower will do (and will cause each of its Material Subsidiaries to do) all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing in this Section 8.2 shall prevent any transaction otherwise permitted under Section 9.2 or Section 9.3 or any change in the form of organization (by merger or otherwise) of any Material Subsidiary of any the Borrower so long as such change shall not have an adverse effect on such the Borrower’s ability to perform its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/)

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Preservation of Existence and Franchises. Such The Borrower will do (will, and will cause each of its Material Subsidiaries to do) to, do all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing , except (i) as a result of or in this connection with a dissolution, merger or disposition of a Subsidiary permitted by Section 8.2 shall prevent any transaction otherwise permitted under 7.04(a), Section 9.2 7.04(b) or Section 9.3 7.04(c) or any change (ii) as would not, in the form reasonable opinion of organization (by merger or otherwise) of any the Bank, result in a Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s ability to perform its obligations hereunderAdverse Effect.

Appears in 1 contract

Samples: Loan Agreement (Amcomp Inc /Fl)

Preservation of Existence and Franchises. Such The Borrower will do (will, and will cause each of its Material Subsidiaries to do) to, do all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority; provided that nothing , except (a) as a result of or in this connection with a dissolution, merger or disposition of a Subsidiary permitted by Section 8.2 shall prevent any transaction otherwise permitted under 8.04(a), Section 9.2 8.04(b) or Section 9.3 8.04(c) or any change (b) as would not, in the form reasonable opinion of organization (by merger or otherwise) of any the Bank, result in a Material Subsidiary of any Borrower so long as such change shall not have an adverse effect on such Borrower’s ability to perform its obligations hereunderAdverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Amcomp Inc /Fl)

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