Merger, Consolidation or Asset Sale. If the Company is merged or consolidated with another entity or sells or otherwise disposes of substantially all of its assets to another company while this Option remain outstanding under this Plan, unless provisions are made in connection with such transaction for the continuance of this Plan and/or the assumption or substitution of such Option with new options or stock awards covering the stock of the successor company, or parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices, then this Option, whether or not vested or then exercisable, shall terminate immediately as of the effective date of any such merger, consolidation or sale.
Merger, Consolidation or Asset Sale. Notwithstanding the provisions of Section 10.1 above, Tenant may, without Landlord’s consent, assign this Lease to any corporation resulting from a merger or consolidation of the Tenant or to the purchaser in connection with a sale of substantially all of the assets of Tenant upon the following conditions: (a) that the total assets and net worth of such assignee after such consolidation, merger or sale (as reasonably determined by Landlord) shall be equal to or more than that of Tenant immediately prior to such consolidation or merger or sale of assets; (b) that Tenant is not at such time in default hereunder; and (c) that such successor shall execute an instrument in writing fully assuming all of the obligations and liabilities imposed upon Tenant hereunder and deliver the same to Landlord prior to the effective date of such assignment.
Merger, Consolidation or Asset Sale. A. If within one (1) year following and as a result of a merger, consolidation, or asset sale as described in Section 10.01, Airline intends to thereafter substantially decrease or discontinue service between the Airport and a particular destination that is not serviced by an Air Transportation Company (other than Airline or its Affiliates) at the Airport, then Airline shall give City advance written notice of the same. Airline agrees to continue service to such destination for a period of six (6) months after giving said notice; provided, however, Airline shall be relieved of this obligation to the extent that Airline’s Leased Premises is inadequate to accommodate the scope of service contemplated in connection with said merger, consolidation or asset sale.
Merger, Consolidation or Asset Sale. If Parent merges or consolidates with or into another company or entity or sells all or substantially all of its assets, lawful provision shall be made as part of the terms of the merger, consolidation or sale so that this Option shall remain outstanding and evidence the right to convert into the number and kind of stock and other securities and property that would have been received by a holder of that number of shares of Common Stock issuable upon the exercise in full of this Option immediately before such merger, consolidation or sale of assets. Such terms shall provide for adjustments which shall be as nearly equivalent as may be practicable to adjustments provided for in this Section 2.
