Common use of State Supervision; Merger or Consolidation Clause in Contracts

State Supervision; Merger or Consolidation. The Mortgage Lender agrees that during the term of this Agreement it will remain subject to supervision and examination by State or federal authorities, as may be applicable, and that it will remain in good standing and qualified to do business under the laws of the United States of America, the state of its organization and of the State, as applicable, and that it has and will maintain all necessary licenses under the laws of the United States of America, the state of its organization and of the State, as applicable, will not dissolve or otherwise dispose of all or substantially all of its assets, and will not voluntarily consolidate with or merge into any other entity or permit one or more other entities to consolidate with or merge into it; provided, that, the Mortgage Lender may, without violating this subsection, consolidate with or merge into another entity, or permit one or more entities to consolidate with or merge into it, or sell or otherwise transfer to another such entity all or substantially all of its assets as an entirety and thereafter dissolve; provided the surviving, resulting or transferee entity, as the case may be, shall be subject to the supervision and examination of state or federal authorities, as may be applicable, and shall assume in writing all of the obligations of the Mortgage Lender hereunder (in the case of a sale of all or substantially all of the Mortgage Lender’s assets, the Authority shall release the Mortgage Lender in writing, concurrently with and contingent upon such assumption, from all liability hereunder).