Common use of Preservation of Existence and Similar Matters Clause in Contracts

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each of its Subsidiaries to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 6 contracts

Sources: Credit Agreement (Uk Abba Products Inc), Credit Agreement (Clubcorp Inc), Term Credit Agreement (Pillowtex Corp)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 3 contracts

Sources: Credit Agreement (Sunterra Corp), Credit Agreement (Signature Resorts Inc), Credit Agreement (Pc Service Source Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Sources: Credit Agreement (Power One Inc), Credit Agreement (Safeguard Scientifics Inc Et Al)

Preservation of Existence and Similar Matters. The Borrower --------------------------------------------- shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve ----------- and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify ----------- and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Sources: Credit Agreement (Doskocil Manufacturing Co Inc), Credit Agreement (Sunterra Corp)

Preservation of Existence and Similar Matters. The Borrower --------------------------------------------- shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve ----------- and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and ----------- remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Sources: Credit Agreement (Compucom Systems Inc), Credit Agreement (Safeguard Scientifics Inc Et Al)

Preservation of Existence and Similar Matters. The Borrower --------------------------------------------- shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, ----------- preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, ----------- qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Compucom Systems Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each of its Subsidiaries Subsidiary to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, (a) its existence, and (b) all rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from federal, state and local governmental bodies and any Tribunaltribunal (regulatory or otherwise), the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Homco Puerto Rico Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Subsidiary and Affiliate of its Subsidiaries the Borrower to: (a) : except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, maintain or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) and except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Equivest Finance Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges privileges, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless except where the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Xircom Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, ----------- preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify ----------- and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Signature Resorts Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Restricted Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could would reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could would not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Netcom Systems Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each of its Restricted Subsidiaries to: (a) except as otherwise permitted pursuant to Section by SECTION 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from federal, state and local governmental bodies and any Tribunaltribunal (regulatory or otherwise), the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Sun Healthcare Group Inc)

Preservation of Existence and Similar Matters. The Borrower shall, and shall cause each Restricted Subsidiary of its Subsidiaries the Borrower to: (a) except as otherwise permitted pursuant to Section 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could would reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could would not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Netcom Systems Inc)

Preservation of Existence and Similar Matters. The Borrower Parent shall, and shall cause each of its Subsidiaries to: (a) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from any Tribunal, the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section SECTION 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Power One Inc)

Preservation of Existence and Similar Matters. The Borrower Parent shall, and shall cause each of its Restricted Subsidiaries to: (a) except as otherwise permitted pursuant to Section by SECTION 7.4 hereof, preserve and maintain, or timely obtain and thereafter preserve and maintain, its existence, rights, franchises, licenses, authorizations, consents, privileges and all other Necessary Authorizations from federal, state and local governmental bodies and any Tribunaltribunal (regulatory or otherwise), the loss of which could reasonably be expected to have a Material Adverse Effect; and (b) except as otherwise permitted pursuant to Section 7.4 hereof, qualify and remain qualified and authorized to do business in each jurisdiction in which the character of its properties or the nature of its business requires such qualification or authorization, unless the failure to do so could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Sources: Credit Agreement (Sun Healthcare Group Inc)