Common use of Trust Existence Clause in Contracts

Trust Existence. the Borrower shall cause the Trust to maintain its existence as a “mutual fund trust” (within the meaning of the Income Tax Act (Canada)) and as a trust validly subsisting under the laws of the Province of Alberta and to qualify and remain qualified as a trust authorized to carry on business under the laws of each jurisdiction in which the nature of any business conducted by it or the character of any properties and assets owned or leased by it requires such qualification except to the extent failure to qualify would not reasonably be expected to have a Material Adverse Effect;

Trust Existence. the Borrower Borrow shall cause the Trust to maintain its existence as a “mutual fund trust” (within the meaning of the Income Tax Act (Canada)) and as a trust validly subsisting under the laws of the Province of Alberta and to qualify and remain qualified as a trust authorized to carry on business under the laws of each jurisdiction in which the nature of any business conducted by it or the character of any properties and assets owned or leased by it requires such qualification except to the extent failure to qualify would not reasonably be expected to have a Material Adverse Effect;