{"component": "clause", "props": {"groups": [{"snippet": "(a) No Borrower shall become a party to any merger or consolidation, or agree to or effect any asset acquisition or stock acquisition (other than the acquisition of assets in the ordinary course of business consistent with past practices and with respect to asset swaps) except the merger or consolidation of, or asset or stock acquisitions between existing Borrowers, and except as otherwise provided in this Section 7.04(a). The Borrowers may purchase or otherwise acquire assets or the Equity Interests of any other Person; provided, that:\n(i) the Borrowers are in pro forma compliance with each of the financial covenants set forth in Section 7.14 (using Consolidated EBITDA of the Consolidated Group as of the last day of the applicable Pro Forma Reference Period (but including any addbacks to Consolidated EBITDA previously approved in the period following the last day of the applicable Pro Forma Reference Period) and Consolidated Total Funded Debt as of the date of, and after giving effect to, such acquisition (with such amounts adjusted as if such acquisition occurred on the first day of the applicable Pro Forma Reference Period));\n(ii) at the time of such acquisition, no Default or Event of Default has occurred and is continuing, and such acquisition will not otherwise create a Default or an Event of Default hereunder;\n(iii) the business to be acquired is predominantly in the same lines of business as the Borrowers, or businesses reasonably related or incidental thereto (e.g., non-hazardous solid waste collection, transfer, hauling, recycling, or disposal), except for Investments in other lines of business in an aggregate amount not to exceed $50,000,000 at any time outstanding for all such Investments (the amount of any such Investment being the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment);\n(iv) all of the assets to be acquired shall be owned by an existing or newly created Subsidiary of the Parent which Subsidiary shall be or become a Borrower hereunder in accordance with Section 6.16 or be designated an Excluded Subsidiary in accordance with Section 6.19 and subject to Section 7.15;\n(v) the board of directors and (if required by applicable law) the shareholders, or the equivalents thereof, of the business to be acquired has approved such acquisition; and\n(vi) if such acquisition is made by a merger, a Borrower, or a wholly-owned Subsidiary of the Parent which shall become a Borrower in connection with such merger, shall be the surviving entity. Notwithstanding anything to the contrary set forth in this clause (a), the Parent shall not consummate any merger in which it is not the surviving entity.\n(b) No Borrower shall become a party to or agree to or effect any Disposition of assets, other than (a) the sale of inventory, the licensing of intellectual property and the Disposition of obsolete assets, in each case in the ordinary course of business consistent with past practices, (b) a Disposition of assets from a Borrower to any other Borrower, (c) the sale or exchange of routes and related assets which, in the business judgment of the Borrowers, will not have a Material Adverse Effect, (d) assets with a fair market value of less than $50,000,000 per year transferred in connection with an asset sale or swap, which sale or swap, in the business judgment of the Borrowers, will not have a Material Adverse Effect, and (e) the sale, lease, assignment, transfer or other Disposition of Receivables in connection with any Permitted Receivables Transaction.", "size": 4, "snippet_links": [{"key": "borrower-shall", "type": "clause", "offset": [7, 21]}, {"key": "a-party", "type": "clause", "offset": [29, 36]}, {"key": "merger-or-consolidation", "type": "clause", "offset": [44, 67]}, {"key": "agree-to", "type": "clause", "offset": [72, 80]}, {"key": "asset-acquisition", "type": "definition", "offset": [95, 112]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [150, 171]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [172, 206]}, {"key": "consistent-with-past-practices", "type": "definition", "offset": [207, 237]}, {"key": "with-respect-to", "type": "clause", "offset": [242, 257]}, {"key": "asset-swaps", "type": "definition", "offset": [258, 269]}, {"key": "the-merger", "type": "clause", "offset": [278, 288]}, {"key": "stock-acquisitions", "type": "clause", "offset": [322, 340]}, {"key": "existing-borrowers", "type": "clause", "offset": [349, 367]}, {"key": "except-as-otherwise-provided", "type": "clause", "offset": [373, 401]}, {"key": "the-borrowers", "type": "clause", "offset": [427, 440]}, {"key": "acquire-assets", "type": "clause", "offset": [467, 481]}, {"key": "the-equity-interests", "type": "clause", "offset": [485, 505]}, {"key": "any-other-person", "type": "definition", "offset": [509, 525]}, {"key": "compliance-with", "type": "definition", "offset": [578, 593]}, {"key": "financial-covenants", "type": "definition", "offset": [606, 625]}, {"key": "consolidated-ebitda", "type": "clause", "offset": [659, 678]}, {"key": "consolidated-group", "type": "clause", "offset": [686, 704]}, {"key": "day-of", "type": "clause", "offset": [720, 726]}, {"key": "the-applicable", "type": "clause", "offset": [727, 741]}, {"key": "pro-forma-reference-period", "type": "definition", "offset": [742, 768]}, {"key": "the-period", "type": "clause", "offset": [843, 853]}, {"key": "following-the", "type": "definition", "offset": [854, 867]}, {"key": "consolidated-total-funded-debt", "type": "definition", "offset": [927, 957]}, {"key": "date-of", "type": "clause", "offset": [968, 975]}, {"key": "after-giving", "type": "clause", "offset": [981, 993]}, {"key": "first-day", "type": "definition", "offset": [1089, 1098]}, {"key": "at-the-time", "type": "clause", "offset": [1152, 1163]}, {"key": "no-default-or-event-of-default", "type": "clause", "offset": [1185, 1215]}, {"key": "a-default", "type": "definition", "offset": [1295, 1304]}, {"key": "default-hereunder", "type": "clause", "offset": [1320, 1337]}, {"key": "lines-of-business", "type": "definition", "offset": [1402, 1419]}, {"key": "solid-waste-collection", "type": "definition", "offset": [1514, 1536]}, {"key": "investments-in", "type": "clause", "offset": [1593, 1607]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [1648, 1668]}, {"key": "at-any-time", "type": "clause", "offset": [1681, 1692]}, {"key": "adjustment-for", "type": "clause", "offset": [1809, 1823]}, {"key": "increases-or-decreases", "type": "clause", "offset": [1835, 1857]}, {"key": "the-value", "type": "clause", "offset": [1861, 1870]}, {"key": "assets-to-be-acquired", "type": "clause", "offset": [1908, 1929]}, {"key": "owned-by", "type": "definition", "offset": [1939, 1947]}, {"key": "subsidiary-of", "type": "definition", "offset": [1977, 1990]}, {"key": "the-parent", "type": "clause", "offset": [1991, 2001]}, {"key": "subsidiary-shall", "type": "definition", "offset": [2008, 2024]}, {"key": "in-accordance-with", "type": "definition", "offset": [2059, 2077]}, {"key": "excluded-subsidiary", "type": "definition", "offset": [2111, 2130]}, {"key": "subject-to-section", "type": "clause", "offset": [2167, 2185]}, {"key": "directors-and", "type": "clause", "offset": [2209, 2222]}, {"key": "required-by", "type": "definition", "offset": [2227, 2238]}, {"key": "applicable-law", "type": "definition", "offset": [2239, 2253]}, {"key": "the-shareholders", "type": "clause", "offset": [2255, 2271]}, {"key": "owned-subsidiary", "type": "clause", "offset": [2437, 2453]}, {"key": "in-connection-with", "type": "clause", "offset": [2498, 2516]}, {"key": "the-surviving-entity", "type": "clause", "offset": [2539, 2559]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [2561, 2601]}, {"key": "in-this-clause", "type": "clause", "offset": [2612, 2626]}, {"key": "disposition-of-assets", "type": "clause", "offset": [2782, 2803]}, {"key": "sale-of-inventory", "type": "clause", "offset": [2824, 2841]}, {"key": "intellectual-property-and", "type": "clause", "offset": [2860, 2885]}, {"key": "each-case", "type": "definition", "offset": [2925, 2934]}, {"key": "other-borrower", "type": "definition", "offset": [3053, 3067]}, {"key": "sale-or-exchange", "type": "clause", "offset": [3077, 3093]}, {"key": "related-assets", "type": "definition", "offset": [3108, 3122]}, {"key": "business-judgment", "type": "clause", "offset": [3137, 3154]}, {"key": "material-adverse-effect", "type": "definition", "offset": [3189, 3212]}, {"key": "fair-market-value", "type": "definition", "offset": [3232, 3249]}, {"key": "per-year", "type": "definition", "offset": [3275, 3283]}, {"key": "asset-sale", "type": "clause", "offset": [3318, 3328]}, {"key": "other-disposition", "type": "definition", "offset": [3491, 3508]}, {"key": "permitted-receivables-transaction", "type": "clause", "offset": [3547, 3580]}], "samples": [{"hash": "c52OCsIf4CS", "uri": "/contracts/c52OCsIf4CS#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Waste Connections, Inc.)", "score": 24.5592060089, "published": true}, {"hash": "g1enwl4zRHQ", "uri": "/contracts/g1enwl4zRHQ#merger-consolidation-and-disposition-of-assets", "label": "Term Loan Agreement (Waste Connections, Inc.)", "score": 24.1622180939, "published": true}], "hash": "fa097ed6c1c79e5fa2a796fe8b5d2e38", "id": 3}, {"snippet": "None of the Borrower, MCRC, any Operating Subsidiary, any Property Owning Subsidiary that owns any Real Estate that the Borrower has elected to treat as an Unencumbered Property or any wholly-owned Subsidiary will:\n(a) Become a party to any merger, consolidation or reorganization without the prior Unanimous Lender Approval, except that so long as no Default or Event of Default has occurred and is continuing, or would occur after giving effect thereto, the merger, consolidation or reorganization of one or more Persons with and into the Borrower, MCRC, any Property Owning Subsidiary, or any wholly-owned Subsidiary, shall be permitted if (i) such action is not hostile, (ii) the Borrower, MCRC, any Property Owning Subsidiary, or any wholly owned Subsidiary, as the case may be, is the surviving entity or such merger, consolidation or reorganization involves only MCRC and its Affiliates and is done in connection with an MCRC Organizational Change otherwise permitted under this Agreement, and (iii) such merger, consolidation or reorganization does not cause a Default or Event of Default under \u00a712.1(m) hereof; provided, that for any such merger, consolidation or reorganization (other than (v) the merger or consolidation of one or more Affiliates of MCRC with and into MCRC, or of MCRC into such Affiliate, in either case in connection with an MCRC Organizational Change otherwise permitted under this Agreement, (w) the merger or consolidation of one or more Subsidiaries of MCRLP with and into MCRLP, (x) the merger or consolidation of two or more Subsidiaries of MCRLP, (y) the merger or consolidation of one or more Subsidiaries of MCRC with and into MCRC, or (z) the merger or consolidation of two or more Subsidiaries of MCRC), the Borrower shall provide to the Administrative Agent a statement in the form of Exhibit D hereto signed by the chief financial officer or senior vice president of finance or other thereon designated officer of the Borrower and setting forth in reasonable detail computations evidencing compliance with the covenants contained in \u00a79 hereof and certifying that no Default or Event of Default has occurred and is continuing, or would occur and be continuing after giving effect to such merger, consolidation or reorganization and all liabilities, fixed or contingent, pursuant thereto;\n(b) Sell, transfer or otherwise dispose of (collectively and individually, \u201cSell\u201d or a \u201cSale\u201d) or \u2587\u2587\u2587\u2587\u2587 \u2587 \u2587\u2587\u2587\u2587 to secure Indebtedness (an \u201cIndebtedness Lien\u201d) on any of its now owned, ground leased or hereafter acquired assets without obtaining the prior written consent of the Required Lenders, except for:", "size": 27, "snippet_links": [{"key": "of-the-borrower", "type": "clause", "offset": [5, 20]}, {"key": "operating-subsidiary", "type": "definition", "offset": [32, 52]}, {"key": "property-owning-subsidiary", "type": "definition", "offset": [58, 84]}, {"key": "real-estate", "type": "definition", "offset": [99, 110]}, {"key": "unencumbered-property", "type": "definition", "offset": [156, 177]}, {"key": "a-party", "type": "clause", "offset": [226, 233]}, {"key": "unanimous-lender-approval", "type": "clause", "offset": [299, 324]}, {"key": "no-default-or-event-of-default", "type": "clause", "offset": [349, 379]}, {"key": "after-giving", "type": "clause", "offset": [427, 439]}, {"key": "the-merger", "type": "clause", "offset": [456, 466]}, {"key": "wholly-owned-subsidiary", "type": "definition", "offset": [739, 762]}, {"key": "the-case", "type": "definition", "offset": [767, 775]}, {"key": "the-surviving-entity", "type": "clause", "offset": [787, 807]}, {"key": "in-connection-with", "type": "clause", "offset": [906, 924]}, {"key": "organizational-change", "type": "definition", "offset": [933, 954]}, {"key": "this-agreement", "type": "clause", "offset": [981, 995]}, {"key": "cause-a-default", "type": "clause", "offset": [1061, 1076]}, {"key": "event-of-default-under", "type": "definition", "offset": [1080, 1102]}, {"key": "merger-or-consolidation", "type": "clause", "offset": [1208, 1231]}, {"key": "the-borrower-shall", "type": "clause", "offset": [1745, 1763]}, {"key": "provide-to", "type": "clause", "offset": [1764, 1774]}, {"key": "the-administrative-agent", "type": "definition", "offset": [1775, 1799]}, {"key": "form-of", "type": "definition", "offset": [1819, 1826]}, {"key": "exhibit-d", "type": "definition", "offset": [1827, 1836]}, {"key": "the-chief-financial-officer", "type": "clause", "offset": [1854, 1881]}, {"key": "vice-president-of-finance", "type": "definition", "offset": [1892, 1917]}, {"key": "designated-officer", "type": "definition", "offset": [1935, 1953]}, {"key": "the-covenants", "type": "clause", "offset": [2049, 2062]}, {"key": "contained-in", "type": "definition", "offset": [2063, 2075]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [2352, 2372]}, {"key": "to-secure", "type": "clause", "offset": [2441, 2450]}, {"key": "indebtedness-lien", "type": "clause", "offset": [2469, 2486]}, {"key": "acquired-assets", "type": "definition", "offset": [2541, 2556]}, {"key": "consent-of-the-required-lenders", "type": "clause", "offset": [2593, 2624]}], "samples": [{"hash": "56nx8gBgpia", "uri": "/contracts/56nx8gBgpia#merger-consolidation-and-disposition-of-assets", "label": "Revolving Credit and Term Loan Agreement (Mack Cali Realty L P)", "score": 28.0800819397, "published": true}, {"hash": "ioApI0WfQB9", "uri": "/contracts/ioApI0WfQB9#merger-consolidation-and-disposition-of-assets", "label": "Term Loan Agreement (Mack Cali Realty L P)", "score": 27.0150585175, "published": true}, {"hash": "8DEzr7EQMfK", "uri": "/contracts/8DEzr7EQMfK#merger-consolidation-and-disposition-of-assets", "label": "Revolving Credit Agreement (Mack Cali Realty L P)", "score": 24.5373039246, "published": true}], "hash": "d666d808fd76b556cff7cb5f34a43840", "id": 1}, {"snippet": "(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.\n(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:\n(i) sales or other dispositions to a Credit Party,\n(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;\n(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\n(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.", "size": 7, "snippet_links": [{"key": "neither-the-company", "type": "definition", "offset": [4, 23]}, {"key": "at-any-time", "type": "clause", "offset": [59, 70]}, {"key": "merge-or-consolidate", "type": "definition", "offset": [71, 91]}, {"key": "any-person", "type": "definition", "offset": [105, 115]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [270, 295]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [364, 384]}, {"key": "other-dispositions", "type": "clause", "offset": [511, 529]}, {"key": "credit-party", "type": "definition", "offset": [535, 547]}, {"key": "in-connection-with", "type": "clause", "offset": [587, 605]}, {"key": "an-exchange", "type": "clause", "offset": [606, 617]}, {"key": "section-52", "type": "clause", "offset": [688, 699]}, {"key": "provided-that", "type": "clause", "offset": [700, 713]}, {"key": "the-purchase-price", "type": "clause", "offset": [768, 786]}, {"key": "replacement-property", "type": "clause", "offset": [798, 818]}, {"key": "sale-or-other-disposition", "type": "clause", "offset": [847, 872]}, {"key": "exchanges-or-purchases", "type": "clause", "offset": [949, 971]}, {"key": "within-180-days", "type": "clause", "offset": [978, 993]}, {"key": "sale-or-disposition", "type": "definition", "offset": [1006, 1025]}, {"key": "but-excluding", "type": "clause", "offset": [1142, 1155]}, {"key": "office-building", "type": "definition", "offset": [1173, 1188]}, {"key": "no-default-or-event-of-default-exists", "type": "clause", "offset": [1251, 1288]}, {"key": "after-giving", "type": "clause", "offset": [1338, 1350]}, {"key": "pro-forma-basis", "type": "clause", "offset": [1403, 1418]}, {"key": "day-of", "type": "clause", "offset": [1446, 1452]}, {"key": "preceding-fiscal-quarter", "type": "definition", "offset": [1469, 1493]}, {"key": "financial-covenants", "type": "definition", "offset": [1521, 1540]}, {"key": "section-55", "type": "clause", "offset": [1554, 1565]}, {"key": "in-the-case", "type": "clause", "offset": [1573, 1584]}, {"key": "disposition-of", "type": "clause", "offset": [1593, 1607]}, {"key": "a-health-care", "type": "clause", "offset": [1608, 1621]}, {"key": "fair-market-value", "type": "definition", "offset": [1638, 1655]}, {"key": "a-compliance-certificate", "type": "clause", "offset": [1703, 1727]}, {"key": "the-agent", "type": "clause", "offset": [1741, 1750]}, {"key": "prior-to", "type": "definition", "offset": [1770, 1778]}, {"key": "other-sales", "type": "clause", "offset": [1806, 1817]}, {"key": "assets-of-the-company", "type": "definition", "offset": [1837, 1858]}, {"key": "without-limitation", "type": "clause", "offset": [1891, 1909]}, {"key": "other-health-care-facility", "type": "definition", "offset": [2007, 2033]}], "samples": [{"hash": "7Rq1HX8RoDz", "uri": "/contracts/7Rq1HX8RoDz#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 37.3449707031, "published": true}, {"hash": "5VrtbAgZvKF", "uri": "/contracts/5VrtbAgZvKF#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 37.3093757629, "published": true}, {"hash": "7rUDHieLVG1", "uri": "/contracts/7rUDHieLVG1#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 35.7515411377, "published": true}], "hash": "2d2dc858e7d469f6f2935811b6cb433c", "id": 2}, {"snippet": "(a) The Borrower will not become a party to any merger, consolidation or other business combination, or agree to or effect any asset acquisition or stock acquisition or other acquisition of beneficial or legal ownership interests.\n(b) Except as expressly provided herein, the Borrower will not become a party to or agree to or effect any disposition of the Project or any part thereof.\n(c) The Borrower will not become a party to or agree to effect any disposition of assets, other than assets not included in the Project in the ordinary course of business.", "size": 4, "snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [8, 21]}, {"key": "a-party", "type": "clause", "offset": [33, 40]}, {"key": "other-business-combination", "type": "definition", "offset": [73, 99]}, {"key": "agree-to", "type": "clause", "offset": [104, 112]}, {"key": "asset-acquisition", "type": "definition", "offset": [127, 144]}, {"key": "stock-acquisition", "type": "definition", "offset": [148, 165]}, {"key": "other-acquisition", "type": "definition", "offset": [169, 186]}, {"key": "ownership-interests", "type": "definition", "offset": [210, 229]}, {"key": "except-as-expressly-provided", "type": "clause", "offset": [235, 263]}, {"key": "the-project", "type": "definition", "offset": [353, 364]}, {"key": "disposition-of-assets", "type": "clause", "offset": [453, 474]}, {"key": "not-included", "type": "clause", "offset": [494, 506]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [522, 556]}], "samples": [{"hash": "hfpfjqPcmTV", "uri": "/contracts/hfpfjqPcmTV#merger-consolidation-and-disposition-of-assets", "label": "Construction Loan Agreement (Walden Residential Properties Inc)", "score": 18.0, "published": true}, {"hash": "7Zd6cxPxY3r", "uri": "/contracts/7Zd6cxPxY3r#merger-consolidation-and-disposition-of-assets", "label": "Construction Loan Agreement (Walden Residential Properties Inc)", "score": 18.0, "published": true}], "hash": "7adbb3d443432c2fde7edf10e8bfe503", "id": 4}, {"snippet": "SECTION 5.01. Merger, Consolidation and Disposition of Assets by the Company .................................................... 32 SECTION 5.02. Consolidation or Sale of Assets by a Guarantor ............ 33", "size": 3, "snippet_links": [{"key": "section-501", "type": "clause", "offset": [0, 12]}, {"key": "disposition-of-assets", "type": "clause", "offset": [40, 61]}, {"key": "by-the-company", "type": "clause", "offset": [62, 76]}, {"key": "sale-of-assets", "type": "clause", "offset": [164, 178]}], "samples": [{"hash": "4GjvXtksGjo", "uri": "/contracts/4GjvXtksGjo#merger-consolidation-and-disposition-of-assets", "label": "Indenture (Roadway Corp)", "score": 18.0, "published": true}, {"hash": "1r5OOSGgHdF", "uri": "/contracts/1r5OOSGgHdF#merger-consolidation-and-disposition-of-assets", "label": "Indenture (Yellow Roadway Corp)", "score": 18.0, "published": true}], "hash": "3399a0dcc95d43d69c0b181490202b88", "id": 5}, {"snippet": "(a) The Borrower will not become a party to any merger or consolidation, or agree to or effect any asset acquisition or stock acquisition (other than the acquisition of assets in the ordinary course of business consistent with past practices).\n(b) The Borrower will not become a party to or agree to or effect any disposition of the Project or any part thereof, unless such agreement provides for the payment, in full, of all of Borrower's Obligations.\n(c) The Borrower will not become a party to or agree to effect any disposition of assets, other than the disposition of assets not included in the Project in the ordinary course of business, consistent with the past practices.", "size": 3, "snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [8, 21]}, {"key": "a-party", "type": "clause", "offset": [33, 40]}, {"key": "merger-or-consolidation", "type": "clause", "offset": [48, 71]}, {"key": "agree-to", "type": "clause", "offset": [76, 84]}, {"key": "asset-acquisition", "type": "definition", "offset": [99, 116]}, {"key": "stock-acquisition", "type": "definition", "offset": [120, 137]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [154, 175]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [176, 210]}, {"key": "consistent-with-past-practices", "type": "definition", "offset": [211, 241]}, {"key": "the-project", "type": "definition", "offset": [329, 340]}, {"key": "the-payment", "type": "clause", "offset": [397, 408]}, {"key": "all-of-borrower", "type": "definition", "offset": [422, 437]}, {"key": "disposition-of-assets", "type": "clause", "offset": [520, 541]}, {"key": "not-included", "type": "clause", "offset": [580, 592]}, {"key": "consistent-with-the", "type": "clause", "offset": [644, 663]}], "samples": [{"hash": "5up24FZ23Xj", "uri": "/contracts/5up24FZ23Xj#merger-consolidation-and-disposition-of-assets", "label": "Construction Loan and Security Agreement (Griffin Land & Nurseries Inc)", "score": 21.5119781494, "published": true}, {"hash": "ct8j7Rt8tiR", "uri": "/contracts/ct8j7Rt8tiR#merger-consolidation-and-disposition-of-assets", "label": "Construction Loan and Security Agreement (Griffin Land & Nurseries Inc)", "score": 21.0, "published": true}], "hash": "a9358d4aad689a90eb11b77c3a9af8c4", "id": 6}, {"snippet": "Neither the Company, nor any of its Subsidiaries, will at any time merge or consolidate with or into any Person or sell or otherwise dispose of any Health Care Facility of the Company leased to UHS or to a UHS Subsidiary, except (i) that the Company may sell, if after giving effect to such sale no Default or Event of Default exists or would result as a consequence thereof, any Health Care Facility of the Company leased to UHS or to a UHS Subsidiary so long as such Health Care Facilities do not in the aggregate account for more than 5% of the total assets of the Company and its Subsidiaries as determined in accordance with GAAP over the term of this Agreement, (ii) a Subsidiary of the Company may merge with and into any wholly-owned Subsidiary of the Company and (iii) any Subsidiary of the Company may merge with and into the Company so long as the Company is the surviving corporation.", "size": 2, "snippet_links": [{"key": "neither-the-company", "type": "definition", "offset": [0, 19]}, {"key": "at-any-time", "type": "clause", "offset": [55, 66]}, {"key": "merge-or-consolidate", "type": "definition", "offset": [67, 87]}, {"key": "any-person", "type": "definition", "offset": [101, 111]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [123, 143]}, {"key": "health-care-facility", "type": "clause", "offset": [148, 168]}, {"key": "after-giving", "type": "clause", "offset": [263, 275]}, {"key": "no-default-or-event-of-default-exists", "type": "clause", "offset": [296, 333]}, {"key": "health-care-facilities", "type": "clause", "offset": [469, 491]}, {"key": "aggregate-account", "type": "definition", "offset": [506, 523]}, {"key": "assets-of-the-company-and-its-subsidiaries", "type": "clause", "offset": [554, 596]}, {"key": "in-accordance-with", "type": "definition", "offset": [611, 629]}, {"key": "the-term-of-this-agreement", "type": "clause", "offset": [640, 666]}, {"key": "subsidiary-of-the-company", "type": "clause", "offset": [675, 700]}, {"key": "owned-subsidiary", "type": "clause", "offset": [736, 752]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [870, 895]}], "samples": [{"hash": "c9EIXKycYlF", "uri": "/contracts/c9EIXKycYlF#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 21.0, "published": true}, {"hash": "ayQvxjoRKB9", "uri": "/contracts/ayQvxjoRKB9#merger-consolidation-and-disposition-of-assets", "label": "Revolving Credit Agreement (Universal Health Realty Income Trust)", "score": 21.0, "published": true}], "hash": "a010e27b0c210fc38a1a64318b9f6065", "id": 7}, {"snippet": "(a) Neither of the Borrowers will, and will not permit any of their respective Subsidiaries to, become a party to any merger or consolidation, or agree to or effect any asset acquisition or stock acquisition (other than the acquisition of assets in the ordinary course of business consistent with past practices) except (i) the merger or consolidation of one or more of the Subsidiaries of the Borrowers with and into either Borrower, (ii) the merger or consolidation of two or more Subsidiaries of the Borrowers or (iii) any Investments permitted by the terms hereof.\n(b) Neither Borrower will, and will not permit any of its Subsidiaries to, become a party to or agree to or effect any Asset Sale without the prior written consent of each of the Lenders.", "size": 2, "snippet_links": [{"key": "the-borrowers", "type": "clause", "offset": [15, 28]}, {"key": "a-party", "type": "clause", "offset": [103, 110]}, {"key": "merger-or-consolidation", "type": "clause", "offset": [118, 141]}, {"key": "agree-to", "type": "clause", "offset": [146, 154]}, {"key": "asset-acquisition", "type": "definition", "offset": [169, 186]}, {"key": "stock-acquisition", "type": "definition", "offset": [190, 207]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [224, 245]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [246, 280]}, {"key": "consistent-with-past-practices", "type": "definition", "offset": [281, 311]}, {"key": "the-merger", "type": "clause", "offset": [324, 334]}, {"key": "the-subsidiaries-of-the", "type": "clause", "offset": [370, 393]}, {"key": "the-terms", "type": "clause", "offset": [551, 560]}, {"key": "borrower-will", "type": "clause", "offset": [581, 594]}, {"key": "asset-sale", "type": "clause", "offset": [688, 698]}, {"key": "consent-of", "type": "clause", "offset": [725, 735]}, {"key": "each-of-the-lenders", "type": "clause", "offset": [736, 755]}], "samples": [{"hash": "1pwA7z3kzHQ", "uri": "/contracts/1pwA7z3kzHQ#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Starter Corp)", "score": 18.0, "published": true}, {"hash": "bazbgBKgnvI", "uri": "/contracts/bazbgBKgnvI#merger-consolidation-and-disposition-of-assets", "label": "Credit Agreement (Starter Corp)", "score": 16.0, "published": true}], "hash": "3d423c08db3b33425339e0e2ecacea4a", "id": 8}, {"snippet": "The Company will not at any time merge or consolidate with or into any Person or sell or otherwise dispose of any Health Care Facility of the Company leased to UHS or to a UHS Subsidiary, except that the Company may sell, if after giving effect to such sale no Default or Event of Default exists or would result as a consequence thereof, any two of such Health Care Facilities (other than the McAllen Medical Center located in McAllen, Texas).", "size": 2, "snippet_links": [{"key": "the-company-will", "type": "clause", "offset": [0, 16]}, {"key": "at-any-time", "type": "clause", "offset": [21, 32]}, {"key": "merge-or-consolidate", "type": "definition", "offset": [33, 53]}, {"key": "any-person", "type": "definition", "offset": [67, 77]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [89, 109]}, {"key": "health-care-facility", "type": "clause", "offset": [114, 134]}, {"key": "of-the-company", "type": "clause", "offset": [135, 149]}, {"key": "after-giving", "type": "clause", "offset": [225, 237]}, {"key": "no-default-or-event-of-default-exists", "type": "clause", "offset": [258, 295]}, {"key": "health-care-facilities", "type": "clause", "offset": [354, 376]}, {"key": "medical-center", "type": "definition", "offset": [401, 415]}, {"key": "located-in", "type": "definition", "offset": [416, 426]}], "samples": [{"hash": "hstaNGNjMWA", "uri": "/contracts/hstaNGNjMWA#merger-consolidation-and-disposition-of-assets", "label": "Revolving Credit Agreement (Universal Health Realty Income Trust)", "score": 16.0, "published": true}, {"hash": "4UAQlknZL6Q", "uri": "/contracts/4UAQlknZL6Q#merger-consolidation-and-disposition-of-assets", "label": "Revolving Credit Agreement (Universal Health Realty Income Trust)", "score": 16.0, "published": true}], "hash": "7f5c9d585b059b635f3058f4eecd84e0", "id": 9}, {"snippet": "Paragraph 6C(5) of the Agreement is amended by adding thereto a new subparagraph (v) reading in its entirety as follows:", "size": 2, "snippet_links": [{"key": "the-agreement", "type": "clause", "offset": [19, 32]}, {"key": "is-amended-by-adding", "type": "clause", "offset": [33, 53]}], "samples": [{"hash": "afaenaH3Yll", "uri": "/contracts/afaenaH3Yll#merger-consolidation-and-disposition-of-assets", "label": "Master Shelf Agreement (Transmontaigne Inc)", "score": 18.0, "published": true}], "hash": "da746e755b9ebc4857e2f7d85ae29451", "id": 10}], "next_curs": "CncScWoVc35sYXdpbnNpZGVyY29udHJhY3RzclMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IjdtZXJnZXItY29uc29saWRhdGlvbi1hbmQtZGlzcG9zaXRpb24tb2YtYXNzZXRzIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"size": 269, "children": [["disposition-of-assets", "Disposition of Assets"], ["mergers-and-acquisitions", "Mergers and Acquisitions"], ["disposition-of-stock", "DISPOSITION  OF STOCK"], ["mergers-acquisitions-dissolutions-liquidations-and-consolidations", "Mergers, Acquisitions, Dissolutions, Liquidations and Consolidations"], ["consolidation-or-sale-of-assets-by-a-guarantor", "Consolidation or Sale of Assets by a Guarantor"]], "parents": [["certain-negative-covenants-of-the-borrower", "CERTAIN NEGATIVE COVENANTS OF THE BORROWER"], ["certain-negative-covenants", "CERTAIN NEGATIVE COVENANTS"], ["certain-negative-covenants-of-the-borrowers", "CERTAIN NEGATIVE COVENANTS OF THE BORROWERS"], ["negative-covenants", "NEGATIVE COVENANTS"], ["further-assurances", "Further Assurances"]], "title": "Merger Consolidation and Disposition of Assets", "id": "merger-consolidation-and-disposition-of-assets", "related": [["merger-consolidation-or-disposition-of-assets", "MERGER, CONSOLIDATION OR DISPOSITION OF ASSETS", "MERGER, CONSOLIDATION OR DISPOSITION OF ASSETS"], ["merger-consolidation-and-sale-of-assets", "Merger, Consolidation and Sale of Assets", "Merger, Consolidation and Sale of Assets"], ["merger-consolidation-transfer-of-assets", "MERGER, CONSOLIDATION, TRANSFER OF ASSETS", "MERGER, CONSOLIDATION, TRANSFER OF ASSETS"], ["reorganization-reclassification-merger-consolidation-or-disposition-of-assets", "Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets", "Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets"], ["merger-consolidation-acquisition-and-sale-of-assets", "Merger, Consolidation, Acquisition and Sale of Assets", "Merger, Consolidation, Acquisition and Sale of Assets"]], "related_snippets": [], "updated": "2026-06-17T04:52:06+00:00", "also_ask": ["What key protections should be included to safeguard minority stakeholders in merger or asset sale scenarios?", "How can the clause be negotiated to limit or expand board or shareholder approval requirements?", "What are the most common enforceability challenges courts face with merger and asset disposition clauses?", "How does this clause compare to standard provisions in similar industry agreements?", "What are the critical risks if the clause lacks clear definitions of 'substantially all assets'?"], "drafting_tip": "Specify triggering events, define affected assets, and outline approval procedures to prevent misinterpretation and ensure enforceability.", "explanation": "The \"Merger, Consolidation and Disposition of Assets\" clause governs what happens if a party to the agreement merges with, consolidates into, or transfers significant assets to another entity. Typically, this clause outlines the conditions under which such structural changes are permitted, and may require the surviving or acquiring entity to assume all obligations under the contract. By establishing clear procedures and requirements for these major corporate changes, the clause ensures continuity of contractual obligations and protects the interests of the non-merging party in the event of significant organizational restructuring."}, "json": true, "cursor": ""}}