Common use of Special Limitations Clause in Contracts

Special Limitations. Notwithstanding the authority of the Company set forth in Section 2.02 or any other provision of this Agreement, the Company shall not: (a) fail to preserve its existence as an entity duly organized, validly existing and in good standing (if applicable) under the laws of the jurisdiction of its organization or formation; (b) fail to file its own tax returns; or (c) fail either to hold itself out to the public as a legal entity separate and distinct from any other entity or Person or to conduct its business solely in its own name in order not to mislead others as to the identity of the entity with which such other party is transacting business; or (d) elect under Treasury Regulationsss.301.7701-3 to be taxed as an association taxable as a corporation.