Common use of Substitution of the Borrower Clause in Contracts

Substitution of the Borrower. Notwithstanding the provisions of Clause 14.3, Clause 14.3(a) shall not apply to any merger or consolidation by the Borrower with or into another Person (the “Substitute”) provided that: (a) the substitution results directly from the merger or consolidation by the Borrower with the Substitute as a result of which all or substantially all of the assets and undertaking of the Borrower are transferred to the Substitute; (b) immediately before and after giving effect to the substitution, no Default or Event of Default shall have occurred and be continuing; (c) such agreements are executed or such other forms of undertaking are given by the Substitute to the Issuer (and, following the execution of any other agreements entered into in connection with the agreed funding source, to the party designated by such agreements), in form and manner satisfactory to the Lender and such designated party, as the case may be, agreeing to be bound by the terms of this Agreement and any other document to which the Borrower is party in connection with this Agreement (and, following the execution of any other agreements entered into in connection with the agreed funding source, such other agreements) with any consequential or other amendments which may be appropriate as fully as if the Substitute had been named in this Agreement as the principal debtor in place of the Borrower;