Common use of Assumption of Obligations in Connection with Mergers and Acquisitions Clause in Contracts

Assumption of Obligations in Connection with Mergers and Acquisitions. Nothing herein shall prevent the Company or any Subsidiary, in connection with its merger with or acquisition of all or substantially all of the assets of any Person, from assuming all obligations and liabilities of such Person; provided, however, that no mortgage of such Person shall be so assumed if, as a result thereof, the property of the Company or any of its Restricted Subsidiaries immediately prior thereto would thereupon become subject to the lien of such mortgage, unless either the assumption by the Company or any Restricted Subsidiary of the obligations and liabilities secured by such mortgage would be permitted by the second paragraph of Section

Appears in 1 contract

Sources: Indenture (Fortune Brands Inc)

Assumption of Obligations in Connection with Mergers and Acquisitions. Nothing herein shall prevent the Company or any Subsidiary, in connection with its merger with or acquisition of all or substantially all of the assets of any Person, from assuming all obligations and liabilities of such Person; provided, however, that no mortgage of such Person shall be so assumed if, as a result thereof, the property of the Company or any of its Restricted Subsidiaries immediately prior thereto would thereupon become subject to the lien of such mortgage, unless either the assumption by the Company or any Restricted Subsidiary of the obligations and liabilities secured by such mortgage would be permitted by the second paragraph of SectionSection 7(b) without equally and ratably securing the Notes simultaneously therewith or prior thereto effective provision shall be made for the securing of the Notes by a prior lien on such property. For purposes of this Section 7:

Appears in 1 contract

Sources: Fiscal Agency Agreement (Fortune Brands Inc)

Assumption of Obligations in Connection with Mergers and Acquisitions. Nothing herein shall prevent the Company or any Subsidiary, in connection with its merger with or acquisition of all or substantially all of the assets of any Person, from assuming all obligations and liabilities of such Person; provided, however, that no mortgage of such Person shall be so assumed if, as a result thereof, the property of the Company or any of its Restricted Subsidiaries immediately prior thereto would thereupon become subject to the lien of such mortgage, unless either the assumption by the Company or any Restricted Subsidiary of the obligations and liabilities secured by such mortgage would be permitted by the second paragraph of SectionSection 7(b) without equally and ratably securing the 2009 Notes simultaneously therewith or prior thereto effective provision shall be made for the securing of the 2009 Notes by a prior lien on such property. For purposes of this Section 7:

Appears in 1 contract

Sources: Fiscal Agency Agreement (Fortune Brands Inc)