Common use of Merger of ABC Systems Clause in Contracts

Merger of ABC Systems. The Hendersonville System and the Laurel Park System shall become assets of the Blue Ridge ABC Board, and together both systems shall collectively be known as the Blue Ridge ABC System. A notice of merger shall be filed in the Henderson County Register of Deeds Office. Notwithstanding the merger, all tangible and intangible assets and inventory shall be accounted for separately within the merged system, as a Hendersonville division and a Laurel Park division. All assets, including inventory, and liabilities belonging to the Hendersonville System on June 30, 2024, shall be attributed to the Hendersonville division, and likewise, all assets, including inventory, and liabilities belonging to the Laurel Park System on June 30, 2024, shall be attributed to the Laurel Park division.