Merger, Consolidation, Dissolution, Etc. Consolidate with or merge into any other corporation, partnership or other entity, or permit another corporation, partnership or other entity to merge into it, or dissolve or take any action which would result in its dissolution, change in ownership of shareholders as existing as of the date of this Agreement, or acquire all or substantially all of the properties or assets of any other corporation, partnership or entity, or enter into any arrangement, directly or indirectly, with any entity whereby Borrower shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which Borrower intended to use for substantially the same purpose or purposes as the property being sold or transferred without the prior written consent of Lender.
Merger, Consolidation, Dissolution, Etc. Neither the Borrower nor any of its Subsidiaries will consolidate with or merge into any other corporation, partnership, limited liability company or other entity or permit another corporation or partnership, limited liability company or other entity to merge into them, or dissolve or take or omit to take any action which would result in their dissolution, or acquire all or substantially all the properties or assets of any other Person, or enter into any arrangement, directly or indirectly, with any Person whereby any of Borrower or its Subsidiaries shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which any Borrower or any of its Subsidiaries intend to use for substantially the same purpose or purposes as the property being sold or transferred (other than with respect to another entity comprising Borrower) without the prior written consent of the Lender.
Merger, Consolidation, Dissolution, Etc. The Borrower will not (i) consolidate or merge with any other corporation or Person or dissolve or take or omit to take any action which would result in its dissolution or (ii) enter into any arrangement, directly or indirectly, with any Person whereby the Borrower shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which the Borrower intends to use for substantially the same purpose or purposes as the property being sold or transferred, without the prior written consent of the Bank.
Merger, Consolidation, Dissolution, Etc. Borrower shall not consolidate with or merge into any other corporation, partnership or other entity, or permit another corporation, partnership or other entity to merge into it, or dissolve or take any action which would result in its dissolution, change in ownership of shareholders as existing as of the date of this Loan Agreement, or acquire all or substantially all of the properties or assets of any other corporation, partnership or entity, or enter into any arrangement, directly or indirectly, with any entity whereby the Borrower shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which the Borrower intended to use for substantially the same purpose or purposes as the property being sold or transferred without the prior consent of the Lender. According to information provided by you, VillageEDOCS is in the process of acquiring GoSolutions. It is presently the Bank’s decision to grant the waiver as requested. All other covenants outlined in the Master Loan and Security Agreement dated September 17th, 2004 will be monitored as agreed and remain in full effect. Other potential violations will be evaluated independently as they may arise. The issuance of this letter (1) does not constitute a waiver of any other existing or future default under the Loan Documents and Agreements, nor shall it impair any right of the Bank with respect thereto, and (2) is effective only for the specific instance of the Default. Furthermore, the issuance of this letter does not restrict or eliminate any future action or modification that the Bank may select. • Extend the maturity date of the existing $1,000,000 Revolving Line of Credit from 09/12/2006 to 04/30/2007. The extension of the $1,000,000 Revolving Line of Credit as requested, has been approved, subject to the full execution of the required Loan documentation, and reaffirmation of the unconditional guarantees of Xxxxx Xxxxxx, Xxx Xxxxx, Xxx Xxxxx, and Xxx Xxxxx. Sincerely, /s/ Xxxxx X. Xxxxxxx, Xx. Xxxxx X. Xxxxxxx, Xx. Senior Vice President ***************************************************************************************************************************** SIGNED AND ACCEPTED THIS ___ DAY OF ____________________, 2006. GoSolutions, Inc. By: /s/ [NAME ILLEGIBLE] Name: Title: “Borrower” By: By: Name: Xxxxx Xxxxxx Name: Xxx Xxxxx “Guarantor” “Guarantor” By: By: Name: Xxx Xxxxx Name: Xxx Xxxxx
Merger, Consolidation, Dissolution, Etc. The Borrower will not consolidate with or merge into any other corporation or permit another corporation to merge into it, (unless in the case of a merger or consolidation involving the Borrower, the Borrower is the surviving corporation) or dissolve or take or omit to take any action which would result in its
Merger, Consolidation, Dissolution, Etc. Neither Borrower will consolidate with or merge into any other corporation, or permit another corporation to merge into it (unless, in the case of a merger or consolidation involving either Borrower, a Borrower is the surviving corporation), or dissolve or take or omit to take any action which would result in its dissolution, or acquire all or substantially all the properties or assets of any other Person if the value of such assets or the nature of such assets is material to the Borrowers' financial condition, or enter into any arrangement, directly or indirectly, with any Person whereby either Borrower shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which such Borrower intends to use for substantially the same purpose or purposes as the property being sold or transferred without the prior written consent of the Bank.
Merger, Consolidation, Dissolution, Etc. Without the written consent of the Bank, the Borrower will not consolidate with or merge into any other corporation, or permit another corporation to merge into it, or dissolve or take or omit to take any action which would result in its dissolution, or acquire all or substantially all the properties or assets of any other Person, or enter into any arrangement, directly or indirectly, with any Person whereby the such entities shall sell or transfer any property, real or personal, whether now owned or hereafter acquired.
Merger, Consolidation, Dissolution, Etc. During the term of the Loan, the Borrower will not (i) consolidate or merge with any other corporation or Person where the Borrower is not the entity surviving such merger or consolidation or dissolve or take or omit to take any action which would result in its dissolution or (ii) enter into any arrangement, directly or indirectly, with any Person whereby the Borrower shall sell or transfer any material property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which the Borrower intends to use for substantially the same purpose or purposes as the property being sold or transferred, without the prior written consent of the Bank. Notwithstanding the foregoing, mergers between the Borrower and any Subsidiary in which the Borrower is the survivor or between Subsidiaries of the Borrower would be permitted
Merger, Consolidation, Dissolution, Etc. The Borrower will not consolidate with or merge into any other corporation or permit another corporation to merge into it, (unless in the case of a merger or consolidation involving the Borrower, the Borrower is the surviving corporation) or dissolve or take or omit to take any action which would result in its dissolution, or acquire all or substantially all the properties or assets of any other Person, or enter into any arrangement, directly or indirectly, with any Person whereby the Borrower shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which the Borrower intends to use for substantially the same purpose or purposes as the property being sold or transferred, in each case, without the prior written consent of the Lender.
Merger, Consolidation, Dissolution, Etc. Consolidate with or --------------------------------------- merge into any other Person, or permit another Person to merge into it, or dissolve or take or omit to take any action which would result in its dissolution, or acquire all or substantially all the properties or assets of any other Person, or enter into any arrangement, directly or indirectly, with any Person whereby it shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred.
