Common use of Merger or Sale of Assets Clause in Contracts

Merger or Sale of Assets. Nothing in this Employment Agreement shall preclude Employer from consolidating or merging into or with, or transferring all or substantially all of its assets to another bank or corporation which assumes this Employment Agreement and all obligations and undertakings of it hereunder. Upon such a consolidation, merger or transfer of assets and assumption, "Employer," as used herein, shall mean such other bank or corporation, as the case may be, and this Employment Agreement shall continue in full force and effect.

Merger or Sale of Assets. Nothing in this Employment Agreement shall preclude Employer from consolidating or merging into or with, or transferring all or substantially all of its assets to to, another bank or corporation which assumes this Employment Agreement and all obligations and undertakings of it hereundercorporation. Upon such a consolidation, merger or transfer of assets, the successor to Employer or to all or substantially all of Employer's business and/or assets shall be obligated to assume the obligations of Employer under this Employment Agreement and assumption, the term "Employer," as used herein, shall mean such other bank or corporation, as the case may be, and this Employment Agreement shall continue in full force and effect.

Merger or Sale of Assets. Nothing in this Employment Agreement shall preclude Employer from consolidating or merging into or with, or transferring all or substantially all of its assets to to, another bank or corporation which assumes this Employment Agreement and all obligations and undertakings of it hereundercorporation. Upon such a consolidation, merger or transfer of assets, the successor to Employer or to all or substantially all of Employer’s business and/or assets shall be obligated to assume the obligations of Employer under this Agreement and assumption, "the term “Employer," ” as used herein, shall mean such other bank or corporation, as the case may be, and this Employment Agreement shall continue in full force and effect.