Common use of Preservation of Existence, Licenses, Etc Clause in Contracts

Preservation of Existence, Licenses, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 8.04 or 8.05; (b) take all reasonable action to maintain all rights, privileges, permits, Licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect; (c) preserve or renew all of its material registered copyrights, patents, trademarks, trade names and service marks, and (d) without limitation of the foregoing, keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of the Consolidated Parties in full force and effect; promptly notify the Administrative Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify the Administrative Agent of any default or breach asserted by any Person to have occurred under any License.

Preservation of Existence, Licenses, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Applicable Laws of the jurisdiction of its organization except in a transaction permitted by Section 8.04 10.2.4 or 8.05Section 10.2.5; (b) take all reasonable action to maintain all rights, privileges, permits, Licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect; (c) preserve or renew all of its material registered copyrights, patents, trademarks, trade names and service marks, and (d) without limitation of the foregoing, keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of the Consolidated Parties in full force and effect; promptly notify the Administrative Agent of any proposed modification to any such License, or entry into any new License, in each case at least 30 days prior to its effective date; pay all Royalties when due; and notify the Administrative Agent of any default or breach asserted by any Person to have occurred under any License.