Common use of Legal Existence and Good Standing Clause in Contracts

Legal Existence and Good Standing. Except as permitted by Section 7.9, each Loan Party shall maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. The foregoing shall not restrict any merger, consolidation, wind-up, liquidation or dissolution permitted by Section 7.9.

Appears in 4 contracts

Samples: Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp)

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Legal Existence and Good Standing. Except as otherwise permitted by under Section 7.97.11, each such Loan Party shall maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could would reasonably be expected to have a Material Adverse Effect. The foregoing shall not restrict any merger, consolidation, wind-up, liquidation or dissolution permitted by Section 7.9.

Appears in 2 contracts

Samples: Credit Agreement (Gibson Energy ULC), Credit Agreement (Johnstone Tank Trucking Ltd.)

Legal Existence and Good Standing. Except as permitted allowed by Section 7.9, each Loan Party shall maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. The foregoing shall not restrict any merger, consolidation, wind-up, liquidation or dissolution permitted by Section 7.9.

Appears in 1 contract

Samples: Credit Agreement (Brown Shoe Co Inc/)

Legal Existence and Good Standing. Except as permitted by Section 7.9, each Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. The foregoing ; provided, however, that nothing in this Section 5.06 shall not restrict any merger, consolidation, wind-up, liquidation or dissolution prevent transactions permitted by Section 7.9this Agreement.

Appears in 1 contract

Samples: Assignment and Assumption (Omnova Solutions Inc)

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Legal Existence and Good Standing. Except as permitted by Section 7.97.5, the Borrower shall, and shall cause each Loan Party shall to, maintain its legal existence and its qualification and and, where applicable, good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. The foregoing shall not restrict any merger, consolidation, wind-up, liquidation or dissolution permitted by Section 7.97.5.

Appears in 1 contract

Samples: Credit Agreement (Westlake Chemical Corp)

Legal Existence and Good Standing. Except as permitted by Section SECTION 7.9, each Loan Party shall maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect. The foregoing shall not restrict any merger, consolidation, wind-up, liquidation or dissolution permitted by Section 7.9.

Appears in 1 contract

Samples: Credit Agreement (North American Pipe Corp)

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