Common use of Mergers or Acquisitions Clause in Contracts

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than twenty five percent (25% %) of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) provided no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) if no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during transactions do not in the term of this Agreement and (ii) such transaction would not aggregate result in a decrease of more than 25% of Tangible Net WorthWorth and (ii) no Event of Default has occurred, is continuing or would exist after giving effect to the transactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A ; or (ii) the merger or consolidation is (a) a Subsidiary may merge or consolidate into another Subsidiary or (b) a Subsidiary into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrowerthe Company.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other Personbusiness organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate exceed $100,000 and (ii) no Event of Default has occurred and occurred, is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrowertransactions.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Agreement; (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Borrower will be or will control the surviving entity; and (iii) a Subsidiary may merge or consolidate into another Subsidiary or into a Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (ia) no Event of Default has occurred and is continuing or would result from such action during exist after giving effect to the term of this Agreement transaction, (b) Borrower is the surviving legal entity and (iic) such the transaction would does not result in a decrease to Borrower’s Tangible Net Worth of more than 25% of Tangible Net Worth%. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Borrower’s Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such acquisitions do not involve consideration other than Borrower s equity securities with an aggregate value greater than $250,000 and (ii) no Event of Default has occurred and is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worthtransactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement Agreement, and (ii) such transaction would not result in a decrease of more than twenty-five percent (25% %) of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate result in a decrease of more than 25% of Tangible Net Worth and (ii) no Event of Default has occurred and is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worthtransactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may Worth or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) if no Event of Default has occurred and is continuing or would result wold xxxult from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than twenty five percent (25% %) of Tangible Net Worth. A Subsidiary may merge or consolidate with or into another Subsidiary or with or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (ia) such transactions do not in the aggregate exceed $500,000.00 (including the assumption of any indebtedness), (b) no Event of Default has occurred and is continuing or would result from such action during exist after giving effect to the term of this Agreement transactions, and (iic) such transaction would not result in a decrease of more than 25% of Tangible Net WorthBorrower is the surviving legal entity. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (ia) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (iib) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would transactions do not result in a decrease of more than 25% of Tangible Net WorthWorth and (ii) no Event of Default has occurred, is continuing or would exist after giving effect to the transactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) Borrowers remain in compliance with Section 6.3 hereof following any such transaction would not result in a decrease of more than 25% of Tangible Net Worthtransaction. A Subsidiary may merge or consolidate into another Subsidiary or into any Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 2535% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where provided that this clause (i) will not apply if no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other Personbusiness organization, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event other than transactions between Subsidiaries that are Guarantors. 1.5 Section 7.6 of Default has occurred and the Agreement is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result hereby amended in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.its entirety to read as follows:

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower, except where (ia) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and transaction, (iib) such transaction would not result in a decrease of more than 25% of Borrower’s Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower, and (c) Borrower is the surviving entity.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than --- 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (ia) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement Agreement, (b) Borrower is the sole surviving entity, and (iic) such transaction would transactions do not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other Personbusiness organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate exceed $75,000 and (ii) no Event of Default has occurred and occurred, is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrowertransactions.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from be in existence after giving effect to such action during the term of this Agreement transaction and (ii) Borrower or such Subsidiary is the surviving entity and there is no Change in Control upon the consummation of the transaction would not result (provided that in no event shall Borrower merge into a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into BorrowerSubsidiary).

Mergers or Acquisitions. Merge or consolidate, or permit any of -of-its Subsidiaries -Subsidiaries to merge or consolidate, ; with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Agreement; (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth; and (iii) the surviving entity of any such transaction will be formed under the laws of Borrower's current state of incorporation. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate result in a decrease of more than 33% of Tangible Net Worth and (ii) no Event of Default has occurred and is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worthtransactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) where no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Tangible Net Worth will not decrease by more than 25%; or (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Notwithstanding the foregoing, a Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in Agreement. Any Subsidiary, including, without limitation any Subsidiary that is a decrease of more than 25% of Tangible Net Worth. A Subsidiary Borrower, may merge or consolidate into another Subsidiary or into a Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another PersonPerson (other than Permitted Investments), except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) and the aggregate value of such transaction transactions would not result in a decrease of more than 25exceed 10% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (iiIi) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into Into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would transactions do not result in a decrease of more than 25% of Tangible Net WorthWorth and (ii) no Event of Default has occurred and is continuing or would exist after giving effect to the transactions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than twenty-five (25% %) of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than twenty five percent (25% %) of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into another Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, . with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) where no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and or (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (iii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) where no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Tangible Net Worth will not decrease by more than 25%; or (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Agreement; (ii) such transaction would not result in a decrease of more than 25% of Tangible Net WorthWorth and (iii) such transaction would not result in a change of --- ownership of greater than 35% of Borrower outstanding shares. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other Personbusiness organization (other than mergers or consolidations of a Subsidiary into another wholly-owned Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate exceed $500,000 and (ii) no Event of Default has occurred and occurred, is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrowertransactions.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) except, as long as no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement Agreement, (i) where such transaction would not require more than 15% of Borrower's cash or 25% of Borrower's stock, and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) where no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Tangible Net Worth will not decrease by more than 25%; or (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. (i) Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except (I) where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Tangible Net Worth will not decrease by more than 25%; or (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and Agreement; (ii) such transactions do not in the aggregate exceed $ 10,000,000; or (iii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into BorrowerBorrower without Bank’s consent.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, other than Permitted Investments, except where (i) no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net WorthAgreement. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) if no Event of Default has occurred and is continuing or would result from such action during the term of this Agreement and (ii) such transaction would not or result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may ; or (ii) merge or consolidate a Subsidiary into another Subsidiary or into Borrower.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other Personbusiness organization (other than the Merger and other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, Person except where (i) such transactions do not in the aggregate exceed $100,000 and (ii) no Event of Default has occurred and occurred, is continuing or would result from such action during exist after giving effect to the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrowertransactions.

Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or would result from such action during including the term of this Agreement and Agreement; (ii) such transactions do not in the aggregate exceed $10,000,000; or (iii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower.