Merger of the Collateral Agent. Any corporation or company into which the Collateral Agent shall be merged, or with which it shall be consolidated, or any corporation or company resulting from any merger or consolidation to which the Collateral Agent shall be a party, shall be the Collateral Agent under this Agreement, without the execution or filing of any paper or any further act on the part of the parties hereto, provided, that such resulting corporation or company shall meet the requirements of Section 2.11(b). Upon the occurrence of any such event the Collateral Agent shall promptly provide written notice thereof to the Intercreditor Agent (and the Intercreditor Agent shall deliver such notice to the other Secured Parties that are parties hereto or relevant representatives thereof) and the Borrower. Transfer to an Affiliate. In addition to any rights it may have under Section 2.18 or under any other provision of this Agreement or any other Security Document, each of the Collateral Agent and the Securities Intermediary may assign or transfer its rights under this Agreement and the other Security Documents to any Affiliate that meets the requirements of Section 2.11(b) subject to the prior written consent of the Borrower (so long as no Event of Default has occurred and is continuing) and the Intercreditor Agent.
Appears in 2 contracts
Sources: Collateral Agency and Account Agreement, Project Agreement