Common use of Merger, Consolidation or Succession Clause in Contracts

Merger, Consolidation or Succession. Any Person (a) into which Vendor is merged or consolidated, (b) resulting from any merger or consolidation to which Vendor is a party or (c) succeeding to the business of Vendor, if that Person meets the eligibility requirements in Section 8.1, will be the successor to Vendor under this Agreement. Such Person will execute and deliver to Issuer and Servicer an agreement to assume Vendor’s obligations under this Agreement (unless the assumption happens by operation of law).