Common use of Merger of Estates Clause in Contracts

Merger of Estates. The voluntary or other surrender of this Service Agreement by Customer or a mutual cancellation hereof, shall not work a merger, but shall, at the option of Service Provider, terminate all or any existing subleases or subtenancies, or may, at the option of Service Provider, operate as an assignment to Service Provider of Customer’s interest in such subleases or subtenancies.

Appears in 2 contracts

Sources: Service Agreement (Xenith Bankshares, Inc.), Service Agreement (Xenith Bankshares, Inc.)