Common use of Consolidation, Merger or Disposition of Assets Clause in Contracts

Consolidation, Merger or Disposition of Assets. The Corporation will not consolidate with, merge into, or sell or otherwise dispose of all or substantially all its properties as an entirety to, any person unless: (a) the successor formed by or resulting from such consolidation or merger or to which such sale or other disposition shall have been made shall be a corporation organized under the laws of the United States of America or any State, district or territory thereof; (c) immediately after such consolidation, merger, sale or other disposition, such successor corporation shall not be in default in the performance of any of the covenants, agreements or conditions contained in this Note.