Consolidation and Merger. Borrower will not consolidate with or merge into any other Person or permit any other Person to consolidate with or merge into it, unless: (i) Borrower is the continuing or surviving corporation in any such consolidation or merger and (ii) prior to and immediately after such consolidation or merger, Borrower shall not be in default hereunder.
Appears in 11 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement Inventory (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Consolidation and Merger. Borrower will not consolidate with or merge into any other Person or permit any other Person to consolidate with or merge into it, unless: (i) Borrower is the continuing or surviving corporation in any such consolidation or merger and (ii) prior to and immediately after such consolidation or merger, Borrower shall not be in default hereunder."
Appears in 2 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Consolidation and Merger. Neither Borrower will not consolidate with or merge into any other Person or permit any other Person to consolidate with or merge into it, unless: (i) such Borrower is the continuing or surviving corporation in any such consolidation or merger and (ii) prior to and immediately after such consolidation or merger, Borrower shall not be in default hereunder.
Appears in 1 contract
