Common use of Merger of Trustee Clause in Contracts

Merger of Trustee. Any association or corporation into which the Trustee may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its corporate trust business and assets as a whole or substantially as a whole, or any association or corporation resulting from any such conversion, sale, merger, consolidation or transfer to which it is a party shall, ipso facto, be and become successor Trustee hereunder and vested with all the title to the whole property or Trust Estate and all the trusts, powers, discretions, immunities, privileges and all other matters as was its predecessor, without the execution or filing of any instruments or any further act, deed or conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding, and shall also be and become successor Trustee in respect of the beneficial interest of the Trustee in the Bond Mortgage Loan.

Merger of Trustee. Any corporation or association or corporation into which the Trustee may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its corporate trust business and assets as a whole or substantially substantiative as a whole, or any association corporation or corporation association, resulting from any such conversion, sale, merger, consolidation or transfer to which it is a party shallparty, ipso facto, shall be and become successor Trustee trustee hereunder and vested with all of the title to the whole property or Trust Estate and all the trusts, powers, discretionsdiscretion, immunities, privileges and all other matters as was its predecessor, without the execution or filing of any instruments instrument or any further act, deed or conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding, and shall also be and become successor Trustee in respect of the beneficial interest of the Trustee in the Bond Mortgage Loan.