Common use of Consolidation or Merger; Sale or Disposition of Assets or Property Clause in Contracts

Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuer shall not consolidate or merge with or into any other Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty. (b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuer shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.

Appears in 11 contracts

Samples: Swap Counterparty Rights Agreement (Capital Auto Receivables Inc), Swap Counterparty Rights Agreement (Capital Auto Receivables Inc), Swap Counterparty Rights Agreement (Capital Auto Receivables Inc)

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Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuer shall not consolidate or merge with or into any other Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's ’s Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty. (b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuer shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's ’s Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.

Appears in 3 contracts

Samples: Swap Counterparty Rights Agreement (World Omni Auto Receivables Trust 2005-B), Swap Counterparty Rights Agreement (World Omni Auto Receivables LLC), Swap Counterparty Rights Agreement (World Omni Auto Receivables Trust 2007-A)

Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuer shall not consolidate or merge with or into any other Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty. (b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuer shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuer shall have delivered to the Indenture Trustee an Officer's Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.

Appears in 2 contracts

Samples: Swap Counterparty Rights Agreement (Capital Auto Receivables Inc), Swap Counterparty Rights Agreement (Navistar Financial Retail Receivables Corporation)

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Consolidation or Merger; Sale or Disposition of Assets or Property. (a) The Issuer shall not consolidate or merge with or into any other Person, unless the Issuer shall have delivered to the Indenture Trustee and the Swap Counterparty an Officer's ’s Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such consolidation or merger and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty. (b) Except as otherwise expressly permitted by the Indenture or the other Basic Documents, the Issuer shall not sell, convey, exchange, transfer or otherwise dispose of any of its properties or assets, including those included in the Trust Estate, to any Person, unless the Issuer shall have delivered to the Indenture Trustee and the Swap Counterparty an Officer's ’s Certificate and an Opinion of Counsel addressed to the Issuer, each stating that such sale, conveyance, exchange, transfer or disposition and related supplemental indenture shall have no material adverse tax consequence to the Primary Swap Counterparty.

Appears in 2 contracts

Samples: Swap Counterparty Rights Agreement (World Omni Auto Receivables Trust 2008-A), Swap Counterparty Rights Agreement (World Omni Auto Receivables Trust 2008-B)

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