Corporate Actions; Accounting Changes. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to, dissolve, merge or consolidate with or into any other Person, except that (i) the Borrower may merge with any of its wholly-owned Subsidiaries, (ii) any Credit Party may merge or be consolidated with or into any other Credit Party, and (iii) any Credit Party (other than the Borrower) or any of its Subsidiaries may dissolve so long as such Credit Party or Subsidiary does not own or hold any Oil and Gas Properties or other assets with any BB Value; provided, in any case above, that (x) in any merger involving the Borrower, the Borrower shall be the surviving entity, and (y) at the time of any such dissolution, merger or consolidation and immediately after giving effect thereto, no Default, Event of Default or Borrowing Base Deficiency shall have occurred and the Administrative Agent shall continue to have an Acceptable Security Interest in the Collateral.
Appears in 6 contracts
Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)
