Common use of Operations Matters Clause in Contracts

Operations Matters. In the conduct of its business and operations, Pledgor shall, and shall cause the Borrower to: (i) maintain books and records, separate from those of any other Person; (ii) except as may be expressly contemplated or required by the Deposit Account Agreement, maintain its bank accounts and all its other assets separate from those of any other Person; (iii) hold regular member, shareholder or partnership meetings, as appropriate, to conduct its business, and observe all other limited liability company, corporate or partnership formalities, as the case may be; (iv) hold itself out to creditors and the public as a legal entity separate and distinct from any other Person; (v) prepare separate financial statements, or if part of a consolidated or combined group, then it shall be shown as a separate member of such group, including in a footnote(s) to the relevant financial statements disclosing its separate existence and identity and the existence of its own assets; (vi) allocate and charge fairly and reasonably any common employee or overhead shared with Affiliates except as otherwise permitted under the Financing Documents; (vii) transact all business with Affiliates on an arm's-length basis and to enter into transactions with Affiliates on an arm's-length basis; (viii) conduct business in its own name; (ix) with regard to the Borrower, maintain a sufficient number of employees in light of the Borrower's contemplated business operations; (x) correct any misunderstanding regarding its separate identity of which Pledgor has actual knowledge; (xi) not identify itself in writing as a division of any other Person; and (xii) maintain adequate capital in light of its contemplated business operations.

Operations Matters. In the conduct of its business and operations, Pledgor shall, and shall cause the Borrower to: (i) maintain books and records, separate from those of any other Person; (ii) except as may be expressly contemplated or required by the Deposit Account Agreement, maintain its bank accounts and all its other assets separate from those of any other Person; (iii) hold regular member, shareholder or partnership meetings, as appropriate, to conduct its business, and observe all other limited liability company, corporate corporate, or partnership formalities, as the case may be; (iv) hold itself out to creditors and the public as a legal entity separate and distinct from any other Person; (v) prepare separate financial statements, or if part of a consolidated or combined group, then it shall be shown as a separate member of such group, including in a footnote(s) to the relevant financial statements disclosing its separate existence and identity and the existence of its own assets; (vi) allocate and charge fairly and reasonably any common employee or overhead shared with Affiliates except as otherwise permitted under the Financing Documents; (vii) transact all business with Affiliates on an arm's-length basis and to enter into transactions with Affiliates on an arm's-length basis; (viii) conduct business in its own name; (ix) with regard to the Borrower, maintain a sufficient number of employees in light of the Borrower's contemplated business operations; (x) correct any misunderstanding regarding its separate identity of which Pledgor has actual knowledge; (xi) not identify itself in writing as a division of any other Person; and (xii) maintain adequate capital in light of its contemplated business operations.

Operations Matters. In the conduct of its business and operations, Pledgor shall, and shall cause the each Borrower Entity to: (i) maintain books and records, separate from those of any other Person; (ii) except as may be expressly contemplated or required by the Deposit Account Agreement, maintain its bank accounts and all its other assets separate from those of any other Person; (iii) hold regular member, shareholder or partnership meetings, as appropriate, to conduct its business, and observe all other limited liability company, corporate or partnership formalities, as the case may be; (iv) hold itself out to creditors and the public as a legal entity separate and distinct from any other Person; (v) prepare separate financial statements, or if part of a consolidated or combined group, then it shall be shown as a separate member of such group, including in a footnote(s) to the relevant financial statements disclosing its separate existence and identity and the existence of its own assets; (vi) allocate and charge fairly and reasonably any common employee or overhead shared with Affiliates except as otherwise permitted under the Financing Documents; (vii) transact all business with Affiliates on an arm's-length basis and to enter into transactions with Affiliates on an arm's-length basis; (viii) conduct business in its own name; (ix) with regard to the Borrowereach Borrower Entity, maintain a sufficient number of employees in light of the Borrowersuch Borrower Entity's contemplated business operations; (x) correct any misunderstanding regarding its separate identity of which Pledgor has actual knowledge; (xi) not identify itself in writing as a division of any other Person; and (xii) maintain adequate capital in light of its contemplated business operations.