Common use of Effect of Merger Clause in Contracts

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section 13.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person had been named as "Lessee" therein. No such consolidation or merger, or conveyance, transfer or lease, shall have the effect of releasing Lessee or such Person from any of the obligations, liabilities, covenants or undertakings of Lessee under the Lease.

Appears in 18 contracts

Sources: Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/), Lease Agreement (Continental Airlines Inc /De/)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer transfer, or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section ss. 13.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person Person had been named as "Lessee" therein. No such consolidation or consolidation, merger, or conveyance, transfer transfer, or lease, lease shall have the effect of releasing Lessee or such Person from any of the Lessee's obligations, liabilities, covenants covenants, or undertakings of Lessee under the LeaseLessee Operative Agreements.

Appears in 2 contracts

Sources: Financing Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer transfer, or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section ss. 13.2, such Person will wilL succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person Person had been named as "Lessee" therein. No such consolidation or consolidation, merger, or conveyance, transfer transfer, or lease, lease shall have the effect of releasing Lessee or such Person from any of the Lessee's obligations, liabilities, covenants covenants, or undertakings of Lessee under the LeaseLessee Operative Agreements.

Appears in 2 contracts

Sources: Financing Agreement (Amtran Inc), Lease Agreement (Amtran Inc)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section 13.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person had been named as "Lessee" therein. No such consolidation or merger, or conveyance, transfer or lease, shall have the effect of releasing Lessee or such Person from any of the obligations, liabilities, covenants or undertakings of Lessee under the LeaseLessee Operative Agreements.

Appears in 2 contracts

Sources: Note Purchase Agreement (Continental Airlines Inc /De/), Lease Agreement (Atlas Air Worldwide Holdings Inc)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section 13.219(c), such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person had been named as "Lessee" therein. No such consolidation or merger, or conveyance, transfer or lease, shall have the effect of releasing Lessee or such Person from any of the obligations, liabilities, covenants or undertakings of Lessee under the Lease.

Appears in 1 contract

Sources: Aircraft Lease Agreement (Atlas Air Worldwide Holdings Inc)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section 13.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person had been named as "β€œLessee" ” therein. No such consolidation or merger, or conveyance, transfer or lease, shall have the effect of releasing Lessee or such Person from any of the obligations, liabilities, covenants or undertakings of Lessee under the Lease.

Appears in 1 contract

Sources: Lease Agreement (Continental Airlines Inc /De/)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer transfer, or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section (S) 13.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person Person had been named as "Lessee" therein. No such consolidation or consolidation, merger, or conveyance, transfer transfer, or lease, lease shall have the effect of releasing Lessee or such Person from any of the Lessee's obligations, liabilities, covenants covenants, or undertakings of Lessee under the this Lease.

Appears in 1 contract

Sources: Note Purchase Agreement (Airtran Holdings Inc)

Effect of Merger. Upon any such consolidation or merger of Lessee with or into, or the conveyance, transfer or lease by Lessee of all or substantially all of its assets to, any Person in accordance with this Section 13.212.2, such Person will succeed to, and be substituted for, and may exercise every right and power of, Lessee under the Lessee Operative Agreements with the same effect as if such person had been named as "Lessee" therein. No such consolidation or merger, or conveyance, transfer or lease, shall have the effect of releasing Lessee or such Person from any of the obligations, liabilities, covenants or undertakings of Lessee under the LeaseOperative Agreements.

Appears in 1 contract

Sources: Aircraft Lease Agreement (Vanguard Airlines Inc \De\)