Common use of Effectiveness of the Merger Clause in Contracts

Effectiveness of the Merger. Neiman Marcus shall have no rights or obligations hereunder until the consummation of the Merger and any representations and warranties of Neiman Marcus hereunder shall not become effective until such time. Upon consummation of the Merger, Neiman Marcus succeed to all the rights and obligations of Merger Sub as the Borrower under this Agreement and all representations and warranties of Neiman Marcus as the Borrower shall become effective as of the date hereof, without any further action by any Person.