General Effects of the Mergers. (a) At the REIT Merger Effective Time, the effect of the REIT Merger shall be as set forth in this Agreement and as provided in the applicable provisions of the MGCL and the DLLCA. Without limiting the generality of the foregoing, and subject thereto, at the REIT Merger Effective Time, all of the property, rights, privileges, powers and franchises of REIT I and Merger Sub shall vest in the Surviving Entity, and all debts, liabilities and duties of REIT I and Merger Sub shall become the debts, liabilities and duties of the Surviving Entity.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Moody National REIT II, Inc.), Agreement and Plan of Merger (Moody National REIT I, Inc.)
General Effects of the Mergers. (a) At the REIT Merger Effective Time, the effect of the REIT Merger shall be as set forth in this Agreement and as provided in the applicable provisions of the MGCL and the DLLCAMLLCA. Without limiting the generality of the foregoing, and subject thereto, at the REIT Merger Effective Time, all of the property, rights, privileges, powers and franchises of REIT I XXXX III and Merger Sub shall vest in the Surviving Entity, and all debts, liabilities and duties of REIT I XXXX III and Merger Sub shall become the debts, liabilities and duties of the Surviving Entity.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Griffin-American Healthcare REIT IV, Inc.)
General Effects of the Mergers. (a) At the REIT Merger Effective Time, the effect of the REIT Merger shall be as set forth in this Agreement and as provided in the applicable provisions of the MGCL and the DLLCAMLLCA. Without limiting the generality of the foregoing, and subject thereto, at the REIT Merger Effective Time, all of the property, rights, privileges, powers and franchises of REIT I and Merger Sub shall vest in the Surviving Entity, and all debts, liabilities and duties of REIT I and Merger Sub shall become the debts, liabilities and duties of the Surviving Entity.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Resource Real Estate Opportunity REIT II, Inc.)
General Effects of the Mergers. (a) At the REIT Merger Effective Time, the effect of the REIT Merger shall be as set forth in this Agreement and the Articles of Merger and as provided in the applicable provisions of the MGCL and the DLLCAMLLCA. Without limiting the generality of the foregoing, and subject thereto, at the REIT Merger Effective Time, all of the property, rights, privileges, powers and franchises of REIT I CRII and Merger Sub shall vest in the Surviving EntityCorporation, and all debts, liabilities and duties of REIT I CRII and Merger Sub shall become the debts, liabilities and duties of the Surviving EntityCorporation.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Cottonwood Communities, Inc.)
General Effects of the Mergers. (a) At the REIT Merger Effective Time, the effect of the REIT Merger shall be as set forth in this Agreement and as provided in the applicable provisions of the MGCL and the DLLCAMLLCA. Without limiting the generality of the foregoing, and subject thereto, at the REIT Merger Effective Time, all of the property, rights, privileges, powers and franchises of REIT I SSGT and Merger Sub shall vest in the Surviving Entity, and all debts, liabilities and duties of REIT I SSGT and Merger Sub shall become the debts, liabilities and duties of the Surviving Entity.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Strategic Storage Growth Trust, Inc.)
