Common use of Operating Rights Clause in Contracts

Operating Rights. Keep in full force and effect each of the certificates of convenience and necessity, licenses, permits, operating rights and operating authorizations listed on Schedule 8.19(a) and Schedule 8.19(b) attached hereto (collectively, "Rights"); provided that any of such Rights may be permitted to lapse if (i) it shall no longer be necessary to the conduct of the business of the Borrower and its Subsidiaries or (ii) the Subsidiary owning such Right shall merge into another Subsidiary of the Borrower. In the event of the lapse or termination of any such Right, the Borrower shall promptly deliver to the Administrative Agent and the Banks an updated Schedule 8.19(a) or Schedule 8.19(b), as appropriate.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Allied Holdings Inc), Revolving Credit Agreement (Allied Holdings Inc)