Common use of Rights and Duties of Successor Person Clause in Contracts

Rights and Duties of Successor Person. In case of any such consolidation, merger, transfer, lease or conveyance and upon any such assumption by the successor Person, such successor Person shall succeed to and be substituted for the Issuer, with the same effect as if it had been named herein as the party of the first part, and the predecessor Person, except in the event of a lease, shall be relieved of any further obligation under this Indenture and the Notes. If such successor Person succeeds to and is substituted for the Issuer, such successor Person thereupon may cause to be signed, and may issue either in its own name or in the name of the Issuer, any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Issuer and delivered to the Trustee; and, upon the order of such successor Person, instead of the Issuer, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Notes which previously shall have been signed and delivered by an officer of the Issuer to the Trustee for authentication, and any Notes which such successor Person thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof.

Rights and Duties of Successor Person. In case of any such consolidation, merger, transfer, lease sale or conveyance and upon any such assumption by the successor Person, such successor Person shall succeed to and be substituted for the IssuerGuarantor or the Company, as applicable, with the same effect as if it had been named herein as the party of the first part, and the predecessor Person, except in the event of a lease, corporation shall be relieved of any further obligation under this Indenture and the Notes. If Any such successor Person succeeds to and is substituted for the Issuer, such successor Person Company thereupon may cause to be signed, and may issue either in its own name or in the name of the IssuerCompany, any or all of the Notes issuable assumable hereunder which theretofore shall not have been signed by the Issuer Company and delivered to the Trustee; and, upon the order of such successor Person, instead of the IssuerCompany, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Notes which previously shall have been signed and delivered by an officer the officers of the Issuer Company to the Trustee for authentication, and any Notes which such successor Person thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. In case of any such consolidation, merger, sale or conveyance such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate.