Separate Existence of the Borrower. Each of the Borrower and the Servicer hereby acknowledges that the Secured Parties, the Group Agents and the Administrative Agent are entering into the transactions contemplated by this Agreement and the other Transaction Documents in reliance upon the Borrower’s identity as a legal entity separate from any other ▇▇▇▇▇▇▇ Party and their Affiliates. Therefore, the Borrower and Servicer shall take all steps specifically required by this Agreement or reasonably required by the Administrative Agent or any Group Agent to continue the Borrower’s identity as a separate legal entity and to make it apparent to third Persons that the Borrower is an entity with assets and liabilities distinct from those of any other ▇▇▇▇▇▇▇ Party and any other Person, and is not a division of any ▇▇▇▇▇▇▇ Party or any of its Affiliates or any other Person. Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, the Borrower and the Servicer shall take such actions as shall be required in order that:
Appears in 4 contracts
Sources: Receivables Financing Agreement (Traeger, Inc.), Receivables Financing Agreement (Traeger, Inc.), Receivables Financing Agreement (TGPX Holdings I LLC)
Separate Existence of the Borrower. Each of the Borrower and the Servicer hereby acknowledges that the Secured Parties, the Group Agents and the Administrative Agent are entering into the transactions contemplated by this Agreement and the other Transaction Documents in reliance upon the Borrower’s identity as a legal entity separate from any other ▇▇▇▇▇▇▇ Oncor Party and their Affiliates. Therefore, the Borrower and Servicer shall take all steps specifically required by this Agreement or reasonably required by the Administrative Agent or any Group Agent to continue the Borrower’s identity as a separate legal entity and to make it apparent to third Persons that the Borrower is an entity with assets and liabilities distinct from those of any other ▇▇▇▇▇▇▇ Oncor Party and any other Person, and is not a division of any ▇▇▇▇▇▇▇ Oncor Party or any of its Affiliates or any other Person. Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, the Borrower and the Servicer shall take such actions as shall be required in order that:
Appears in 2 contracts
Sources: Receivables Financing Agreement (Oncor Electric Delivery Co LLC), Receivables Financing Agreement (Oncor Electric Delivery Co LLC)