Common use of Merger Consolidation and Disposition of Assets Clause in Contracts

Merger Consolidation and Disposition of Assets. (a) Neither the Company, nor any of its Subsidiaries, will at any time merge or consolidate with or into any Person except that (i) any Guarantor may merge with and into another Guarantor, (ii) any Guarantor may merge with and into the Company so long as the Company is the surviving corporation. (b) Neither the Company, nor any of its Subsidiaries, will sell or otherwise dispose of any assets (including any Health Care Facility of the Company leased to UHS or to a UHS Subsidiary), except for: (i) sales or other dispositions to a Credit Party, (ii) sales or other dispositions made in connection with an exchange or swap of assets of like property for use in a business permitted by Section 5.2 provided that (x) (A) such property is exchanged for credit against the purchase price of similar replacement property or (B) the proceeds of such sale or other disposition are applied to the purchase price of such replacement property and (y) such exchanges or purchases occur within 180 days of any such sale or disposition; (iii) sales or other dispositions of any Health Care Facility of the Company leased to UHS or to a UHS Subsidiary (but excluding any multi-tenant office building of which UHS or a UHS Subsidiary is a tenant), so long as (x) no Default or Event of Default exists or would result as a consequence thereof and (y) after giving effect to such transaction, the Company would (on a Pro Forma Basis, calculated as of the last day of the immediately preceding fiscal quarter) be in compliance with the financial covenants set forth in Section 5.5, which in the case of such disposition of a Health Care Facility with a fair market value in excess of $10,000,000 shall be evidenced by a compliance certificate delivered to the Agent at least five days prior to such disposition; and (iv) other sales or dispositions of assets of the Company or its Subsidiaries (including, without limitation, any multi-tenant office building of which UHS or a UHS Subsidiary is a tenant but excluding any other Health Care Facility of the Company leased to UHS or to a UHS Subsidiary) so long as (x) no Default or Event of Default exists or would result as a consequence thereof and (y) after giving effect to such transaction, the Company would (on a Pro Forma Basis, calculated as of the last day of the immediately preceding fiscal quarter) be in compliance with the financial covenants set forth in Section 5.5.