Common use of Merger, Consolidation, Succession or Assignment Clause in Contracts

Merger, Consolidation, Succession or Assignment. Any Person (a) into which the Administrator is merged or consolidated, (b) resulting from a merger or consolidation to which the Administrator is a party, (c) succeeding to the Administrator’s business or (d) that is an Affiliate of the Administrator to whom the Administrator has assigned this Agreement, will be the successor to the Administrator under this Agreement. Such Person will execute and deliver to the Issuer, the Owner Trustee and the Indenture Trustee an agreement to assume the Administrator’s obligations under this Agreement (unless the assumption happens by operation of law).

Appears in 59 contracts

Samples: Administration Agreement (Ford Credit Auto Owner Trust 2022-A), Administration Agreement (Ford Credit Auto Owner Trust 2022-A), Administration Agreement (Ford Credit Auto Lease Trust 2021-B)

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Merger, Consolidation, Succession or Assignment. Any Person (a) into which the Administrator is merged or consolidated, (b) resulting from a merger or consolidation to which the Administrator is a party, (c) succeeding to the Administrator’s 's business or (d) that is an Affiliate of the Administrator to whom the Administrator has assigned this Agreement, will be the successor to the Administrator under this Agreement. Such Person will execute and deliver to the Issuer, the Owner Trustee and the Indenture Trustee an agreement to assume the Administrator’s 's obligations under this Agreement (unless the assumption happens by operation of law).

Appears in 30 contracts

Samples: Administration Agreement (Ford Credit Auto Owner Trust 2024-D), Administration Agreement (Ford Credit Auto Receivables Two LLC), Administration Agreement (Ford Credit Auto Owner Trust 2024-C)

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Merger, Consolidation, Succession or Assignment. Any Person (a) into which the Administrator is merged or consolidated, (b) resulting from a merger or consolidation to which the Administrator is a party, (c) succeeding to the Administrator’s business of the Administrator or (d) that is an Affiliate of the Administrator to whom the Administrator has assigned this Agreement, will be the successor to the Administrator under this Agreement. Such Person will execute and deliver to the Issuer, the Owner Trustee and the Indenture Trustee an agreement to assume the Administrator’s obligations under this Agreement (unless the assumption happens by operation of law).

Appears in 5 contracts

Samples: Administration Agreement (Ford Credit Auto Receivables Two LLC), Administration Agreement (Ford Credit Auto Receivables Two LLC), Administration Agreement (Ford Credit Auto Receivables Two LLC)

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