CORPORATE EXISTENCE. The Company shall use all commercially reasonable efforts to preserve and continue the corporate existence of the Company.

Corporate Existence. The Company will do or cause to be done all things necessary to preserve and keep in full force and effect: # the corporate existence of the Company; # the existence (corporate or other) of each subsidiary that is a “depositary institution” (as defined in the Federal Deposit Insurance Act); and # the rights (constituent governing documents and statutory), licenses and franchises of the Company and each of its Subsidiaries that is a depositary institution; provided, however, that the Company will not be required to preserve the existence (corporate or other) of any of its Subsidiaries or any such right, license or franchise of the Company or any of its Subsidiaries if the Board of Directors of the Company determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof will not be disadvantageous in any material respect to the Noteholders.

Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction # assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith and # is a publicly traded corporation whose Common Stock is listed for trading on the OTC Pink, OTCQB, Nasdaq, NasdaqSmallCap, NYSE or AMEX.

Corporate Existence. As of the Effective Date, it is a company or corporation duly organized, validly existing, and in good standing under the Laws of the jurisdiction in which it is incorporated;

Corporate Existence. So long as the Note is outstanding, the Company shall not be party to any Fundamental Transaction (as defined in the Note) unless the Company is in compliance with the applicable provisions governing Fundamental Transactions set forth in the Note.

Corporate Existence. Maintain its corporate existence, continue to engage in business of the same general type as now conducted by it and keep its properties in good repair, working order and condition, and cause each of its consolidated subsidiaries to do the same.

Corporate Existence, Etc. Except as permitted pursuant to [Section 7.3(G)], the Company shall, and shall cause each of its Significant Subsidiaries to, at all times maintain its

Corporate Existence, Etc. Except as permitted pursuant to Section 7.3(I), the Company shall, and shall cause each of its Significant Subsidiaries to, at all times maintain its valid existence and (to the extent such concept applies to such entity) in good standing as a corporation, partnership or limited liability company in its jurisdiction of incorporation or organization, as the case may be, and preserve and keep, or cause to be preserved and kept, in full force and effect its rights and franchises material to its businesses, unless, in the good faith judgment of the Company, the failure to preserve any such rights or franchises would not reasonably be expected to have a Material Adverse Effect.

#Compliance with Laws, Etc70

Corporate Existence; Citizenship. Do or cause to be done all things necessary to # preserve and keep in full force and effect its corporate existence in good standing and all licenses, franchises, permits and assets necessary to the conduct of its business and # to the extent it owns a United States flagged vessel, remain a citizen of the United States within the meaning of Section 2 of the Shipping Act of 1916, as amended, and in compliance with the citizenship requirements imposed under the Merchant Marine Act, 1920, as amended, or any other applicable United States laws for entities engaged in coastwise trade, provided however that Courageous and Resolute shall be permitted to change their jurisdiction of formation to the Republic of the Marshall Islands so long as: # such Borrower does not own a United States flagged vessel, and # such Borrower takes all actions reasonably satisfactory to the Administrative Agent and the Security Trustee to ensure the Collateral granted by such Borrower remains in full force and effect and continues to be subject to a first priority, perfected Lien in favor of the Security Trustee following such re-domiciliation;