No Mergers. Inland will not (a) merge or consolidate with or into any other business entity other than IPC; PROVIDED, that Inland shall be the surviving entity, (b) sell all or substantially all of the assets of the Companies, taken as a whole, or (c) permit any Subsidiary to issue any stock other than to Inland or a wholly owned Subsidiary of Inland.
Appears in 3 contracts
Sources: Exchange and Note Issuance Agreement (Pengo Industries Inc), Exchange and Note Issuance Agreement (Inland Resources Inc), Exchange and Note Issuance Agreement (Inland Resources Inc)
No Mergers. Inland will not (a) merge or consolidate with or ---------- into any other business entity other than IPC; PROVIDEDprovided, that Inland shall be the surviving entity, (b) sell all or substantially all of the assets of the Companies, taken as a whole, or (c) permit any Subsidiary to issue any stock other than to Inland Issuer or a wholly wholly-owned Subsidiary of InlandIssuer.
Appears in 1 contract
Sources: Senior Subordinated Note Purchase Agreement (Inland Resources Inc)