Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, after such merger or consolidation, will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower is not in Default.
Appears in 6 contracts
Samples: Agreement (Cover All Technologies Inc), Convertible Loan Agreement (Obsidian Enterprises Inc), Agreement (Digital Recorders Inc)
Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, corporation after such merger or consolidation, consolidation will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower is not in Default.
Appears in 4 contracts
Samples: Convertible Loan Agreement (Simtek Corp), Convertible Loan Agreement (Newcare Health Corp), Convertible Loan Agreement (Laserscope)
Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, after such merger or consolidation, will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower is not in Default.
Appears in 2 contracts
Samples: Convertible Loan Agreement (Caminosoft Corp), Convertible Loan Agreement (Caminosoft Corp)
Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, corporation after such merger or consolidation, consolidation will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower the Company is not in Default.
Appears in 1 contract
Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, corporation after such merger or consolidation, consolidation will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into the Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower is not in Default.
Appears in 1 contract
Samples: Convertible Loan Agreement (Play by Play Toys & Novelties Inc)
Consolidation or Merger. Borrower shall not consolidate with or merge into any other corporation, unless the surviving corporation, after such merger or consolidation, will not be in Default and the surviving corporation becomes a party to this Agreement. Subsidiaries shall only consolidate with or merge into Borrower or another Subsidiary; provided, however, that a Subsidiary may merge or consolidate with any other entity as long as such Subsidiary is the surviving corporation of such merger or consolidation, and Borrower is not in Default.. ARTICLE VII. β
Appears in 1 contract
