Common use of Effect of Merger, Consolidation, Etc Clause in Contracts

Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the Maker, the effectuation by the Maker of a transaction or series of related transactions in which more than 50% of the voting power of the Maker is disposed of, or the consolidation, merger or other business combination of the Maker with or into any other Person (as defined below) or Persons when the Maker is not the survivor shall either: (i) be deemed to be an Event of Default (as defined in Article III) pursuant to which the Maker shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to the

Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the MakerBorrower, the effectuation by the Maker Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the Maker Borrower is disposed of, or the consolidation, merger or other business combination of the Maker Borrower with or into any other Person (as defined below) or Persons when the Maker Borrower is not the survivor shall either: (i) be deemed to be an Event of Default (as defined in Article III) pursuant to which the Maker Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to thethe Default Amount (as defined in Article III) or (ii) be treated pursuant to Section 1.6(b) hereof. 8

Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the MakerBorrower, the effectuation by the Maker Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the Maker Borrower is disposed of, or the consolidation, merger or other business combination of the Maker Borrower with or into any other Person (as defined below) or Persons when the Maker Borrower is not the survivor shall either: (i) be deemed to be an Event of Default (as defined in Article III) pursuant to which the Maker Borrower shall be required to pay to the Holder upon the consummation Form of and as a condition to such transaction an amount equal to theConvertible Promissory Note

Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the MakerBorrower, the effectuation by the Maker Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the Maker Borrower is disposed of, or the consolidation, merger or other business combination of the Maker Borrower with or into any other Person (as defined below) or Persons when the Maker Borrower is not the survivor shall either: either (i) be deemed to be an Event of Default (as defined in Article III) pursuant to which the Maker Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to thethe Default Amount (as defined in Article III) or (ii) be treated pursuant to Section 1.6(b)