Common use of Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions Clause in Contracts

Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. Notwithstanding anything contained herein or in any of the Securities, the Company may consolidate with, or sell, lease or convey all or substantially all of its assets to, or merge with or into any other corporation, provided that in any such case, either the Company shall be the continuing corporation, or the successor corporation shall be a corporation organized and existing under the laws of the United States of America or a State thereof and such successor corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any), any interest on, and any Additional Amounts payable pursuant to Section 10.4 with respect to, all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by the Company by supplemental Indenture satisfactory to the Trustee, executed and delivered to the Trustee by such successor corporation.

Appears in 3 contracts

Samples: Indenture (UAG Chantilly AU, LLC), Indenture (United Nissan Inc / Tn), Indenture (United Nissan Inc / Tn)

AutoNDA by SimpleDocs

Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. Notwithstanding anything contained herein or in any of the Securities, the Company may consolidate with, or sell, lease or convey all or substantially all of its assets to, or merge with or into any other corporationcorporation organized and existing under the laws of the United States of America or a State thereof; provided, provided that in any such case, either the Company shall be the continuing corporation, or the successor corporation shall be a corporation organized and existing under the laws of the United States of America or a State thereof and such successor corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any), any interest on, and any Additional Amounts payable pursuant to Section 10.4 with respect to, all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Company by supplemental Indenture indenture satisfactory to the Trustee, executed and delivered to the Trustee by such successor corporation.

Appears in 2 contracts

Samples: Indenture (Ambac Financial Group Inc), Indenture (Ambac Financial Group Inc)

AutoNDA by SimpleDocs

Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. Notwithstanding anything contained herein The Company covenants that it will not merge or in consolidate with any of the Securities, the Company may consolidate with, other corporation or sell, lease sell or convey all or substantially all of its assets toto any Person, or merge with or into any other corporation, provided that in any such case, unless (i) either the Company shall be the continuing corporation, or the successor corporation or the Person which acquires by sale or conveyance substantially all the assets of the Company (if other than the Company) shall be a corporation organized and existing under the laws of the United States of America or a any State thereof and such successor corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any), any interest on, and any Additional Amounts payable pursuant to Section 10.4 with respect to, on all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Company Company, by supplemental Indenture indenture satisfactory to the Trustee, executed and delivered to the Trustee by such corporation, and (ii) the Company or such successor corporation, as the case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the performance of any such covenant or condition.

Appears in 1 contract

Samples: Indenture (Gatx Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!