Merger or Consolidation Transfer of Assets Sample Clauses
The "Merger or Consolidation; Transfer of Assets" clause governs what happens to the rights and obligations under an agreement if one party merges with, consolidates into, or transfers its assets to another entity. Typically, this clause outlines whether the agreement will automatically transfer to the successor entity or if consent is required for such a transfer. For example, if a company is acquired or sells a significant portion of its business, this clause determines if the contract remains in force with the new entity. Its core function is to provide certainty and continuity in contractual relationships during significant corporate changes, preventing disputes or unintended terminations when ownership or control shifts.
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Merger or Consolidation Transfer of Assets. If the Owner Trustee merges or consolidates with, or transfers its corporate trust business or assets to, any Person, the resulting, surviving or transferee Person will be the successor Owner Trustee so long as that Person is qualified and eligible under Section 9.1. The Owner Trustee will (i) notify the Issuer and the Administrator (who will notify the Rating Agencies) of the merger or consolidation within 15 Business Days of the event and (ii) file a certificate of amendment to the Certificate of Trust as required by Section 9.3(e).
Merger or Consolidation Transfer of Assets. If a Co-Trustee merges or consolidates with, or transfers its corporate trust business or assets to, any Person, the resulting, surviving or transferee Person will be the successor Owner Trustee or Delaware Trustee, as applicable, so long as that Person is qualified and eligible under Section 9.1. The Co-Trustee will (i) notify the Issuer and the Administrator (who will notify the Rating Agencies) of the merger or consolidation within 15 Business Days of the event and (ii) if that Co-Trustee is the Delaware Trustee, file a certificate of amendment to the Certificate of Trust as required by Section 9.3(e).
Merger or Consolidation Transfer of Assets. If the Administrative Agent merges or consolidates with, or transfers its corporate trust business or assets to, any Person, the resulting, surviving or transferee Person will be the successor Administrative Agent so long as that Person is qualified and eligible under Section 8.9. The Administrative Agent will promptly notify the Borrowers, the Collateral Agent and the Lender of the succession.
Merger or Consolidation Transfer of Assets