Common use of Consolidation/Merger/Reorganization Clause in Contracts

Consolidation/Merger/Reorganization. The Bank shall not enter into any consolidation, merger or reorganization transaction without the Bank obtaining from the successor-in-interest organization an agreement to an assignment and assumption of the obligations of the Bank under this Agreement by its successor-in-interest or surviving company or companies. Should such consolidation, merger or reorganization occur with such an assignment and assumption of the obligations hereunder, the term “Bank” as defined and used in this Agreement shall refer to the successor-in-interest or surviving company or companies, as the case may be.