Assignments Merger of Issuer Sample Clauses

Assignments Merger of Issuer. Notwithstanding anything in this Lease to the contrary, the Guarantor may assign its rights and interests under this Lease and the other Operative Documents and its rights and interests in the Project to any Person provided that: (a) either (i) all amounts owed to the Banks under the Financing Documents shall have been paid in full or (ii) such sale or assignment shall not constitute a breach of the Financing Agreement or any Financing Documents which has not been waived or consented to by the Agent; and (b) either (x) at the time of such sale or assignment the Guarantor shall not be in default in the payment of any amounts due to the Issuer under this Lease or the PILOT Agreement, or (y) the Issuer shall have consented to such sale or assignment. Nothing in this Lease shall prohibit the sale, assignment or encumbrance of all or any portion of the Project or the Guarantor's interest therein pursuant to the Financing Documents or the granting or creation of a Permitted Lien. The Issuer has pledged and assigned, pursuant to the terms of the Mortgages, certain of its rights and interests in the Project and under and pursuant to this Lease to the Agent on behalf of the Banks as security for the payment of the principal of and interest on the Bonds. Such pledge and assignment shall in no way impair or diminish any obligations of the Issuer under this Lease. The Guarantor hereby acknowledges receipt of notice of, and consents to, such pledge and assignment by the Issuer to the Agent on behalf of the Banks and specifically agrees to perform for the benefit of the Agent on behalf of the Banks all of its duties and undertakings hereunder.
Sample 1
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Assignments Merger of Issuer 
Sample 1

Related to Assignments Merger of Issuer

  • Merger of Agreement This Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject matter hereof whether oral or written.

  • Amendments to Merger Agreement The Merger Agreement is hereby amended as follows:

  • AMENDMENT OF AGREEMENT; MERGER The General Partner’s consent shall be required for any amendment to this Agreement. The General Partner, without the consent of the Limited Partners, may amend this Agreement in any respect or merge or consolidate the Partnership with or into any other partnership or business entity (as defined in Section 17-211 of the Act) in a transaction pursuant to Section 7.1(b), (c) or (d) hereof; provided, however, that the following amendments and any other merger or consolidation of the Partnership shall require the consent of Limited Partners holding more than 50% of the Percentage Interests of the Limited Partners:

  • Effect of Merger, Consolidation, Etc At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall either: (i) be deemed to be an Event of Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined in Article III) or (ii) be treated pursuant to Section 1.6(b) hereof. “Person” shall mean any individual, corporation, limited liability company, partnership, association, trust or other entity or organization.

  • Consummation of Merger The parties hereto expressly acknowledge that the consummation of the transactions hereunder is subject to consummation of the Merger. Nothing herein shall be construed to require Seller to consummate the Merger or take steps in furtherance thereof.

  • Amendment to Merger Agreement The Merger Agreement shall be amended as follows:

  • AGREEMENT AND PLAN OF MERGER THIS AGREEMENT AND PLAN OF MERGER (the "Agreement") is made and entered into as of May 15, 1997, by and between XXXXX BANKCORP, INC. ("TARGET"), a corporation organized and existing under the laws of the State of Georgia, with its principal office located in Ocilla, Georgia, and ABC BANCORP ("PURCHASER"), a corporation organized and existing under the laws of the State of Georgia, with its principal office located in Moultrie, Georgia. PREAMBLE -------- Certain terms used in this Agreement are defined in Section 10.1 hereof. The Boards of Directors of TARGET and PURCHASER are of the opinion that the transactions described herein are in the best interests of TARGET and PURCHASER and their respective shareholders. This Agreement provides for the combination of TARGET with PURCHASER pursuant to the merger of TARGET with and into PURCHASER, as a result of which the outstanding shares of the capital stock of TARGET shall be converted into the right to receive shares of common stock of PURCHASER (except as provided herein), and the shareholders of TARGET shall become shareholders of PURCHASER (except as provided herein). The transactions described in this Agreement are subject to the approvals of the shareholders of TARGET, the Board of Governors of the Federal Reserve System, the Georgia Department of Banking and Finance and the satisfaction of certain other conditions described in this Agreement. It is the intention of the parties to this Agreement that the Merger for federal income tax purposes shall qualify as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code. Simultaneous with the Closing of the Merger, The Bank of Ocilla, a wholly- owned Georgia state bank subsidiary of TARGET, will be merged with and into The Citizens Bank of Tifton ("Citizens Bank"), a wholly-owned Georgia state bank subsidiary of PURCHASER, and will thereafter be operated as a branch of Citizens Bank.

  • Effect of Merger on Capital Stock At the Effective Time, by virtue of the Merger and without any action on the part of Merger Sub, the Company or the holders of any equity interests of the Company or Merger Sub, as applicable:

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