Common use of MERGERS AND CONSOLIDATION Clause in Contracts

MERGERS AND CONSOLIDATION. Except with the prior written consent of the Majority Banks, neither of the Borrowers nor any other Security Party will merge or consolidate with any other person save for a merger or consolidation by operation of law with one or more other entities into a single surviving entity which is such Borrower or (as the case may be) such other Security Party and which succeeds by operation of law to all of the assets and liabilities of such Borrower or (as the case may be) such other Security Party immediately prior to such merger or consolidation.

MERGERS AND CONSOLIDATION. Except with the prior written consent of the Majority Banks, neither of the Borrowers Borrower nor any other Security Party will merge or consolidate with any other person save for a merger or consolidation by operation of law with one or more other entities into a single surviving entity which is such the Borrower or (as the case may be) such other Security Party and which succeeds by operation of law to all of the assets and liabilities of such the Borrower or (as the case may be) such other Security Party immediately prior to such merger or consolidation.