SUCCESSION IN INTEREST Sample Clauses

SUCCESSION IN INTEREST. For purposes of this Agreement, Lender will be deemed to have succeeded to the interest of Landlord under the Lease upon: (i) the transfer of title to the Premises to Lender, whether by virtue of foreclosure, sale or transfer in lieu of foreclosure, or pursuant to the exercise of any rights and remedies under the Mortgage or otherwise, or (ii) the occurrence of any other event as a result of which Lender may acquire the right, title and interest of Landlord in and to the Lease or the Premises.
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SUCCESSION IN INTEREST. On the date hereof (a) NHC and Holding consummated the Merger; (b) Holding hereby expressly assumes the due and punctual payment of the principal of, premium, if any, and interest on, and any Additional Amounts with respect to, the Securities and the performance of NHC’s covenants and obligations under the Supplemented Indenture and the Securities; (c) Holding agrees to pay fully and promptly all amounts due to the Trustee and its agents under the Indenture; and (d) Holding will succeed to, be substituted for, and may exercise every right and power of, NHC under the Indenture, with the same effect as if Holding had been named as the “Company” for purposes of the Indenture. After the effectiveness of this Seventh Supplemental Indenture, for the purposes of the Indenture, the term the “Company” shall include Holding, Drilling Holding and NDS6 and shall not include NHC.
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SUCCESSION IN INTEREST. For purposes of this Agreement, Lender will be deemed to have succeeded to the interest of Landlord under the Lease upon (i) the transfer of title to the Premises to Lender, whether by virtue of foreclosure, sale or transfer in lieu of foreclosure, or pursuant to the exercise of any rights and remedies under the Mortgage or otherwise, or (ii) the occurrence of any other event as a result of which Lender may acquire the right, title and interest of Landlord in and to the Lease or the Premises.
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SUCCESSION IN INTEREST. On the date hereof and effective upon the consummation of the Acquisition, (a) SSO hereby expressly assumes all obligations of COO under the Indenture and the Notes; (b) SSO agrees to pay fully and promptly all amounts due to the Trustee and its agents under the Indenture; (c) SSO will succeed to, be substituted for, and may exercise every right and power of, COO under the Indenture, with the same effect as if SSO had been named as the “Company” for purposes of the Indenture; (d) COO will be discharged and released from all of its obligations and covenants under the Indenture and the Notes; and (e) the Subsidiary Guarantors hereby confirm to the Trustee that its Subsidiary Guarantee will apply to the obligations of SSO, as successor issuer, in accordance with the Notes and the Indenture. After the effectiveness of this Supplemental Indenture, for the purposes of the Indenture, the term the “Issuers” shall include SSO and COF and, upon the consummation of the Acquisition, shall not include COO.
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SUCCESSION IN INTEREST. Borrower hereby warrants and certifies that Administrative Agent has succeeded to the rights of Borrower under the First Lien Documents (as defined in the Assignment), pursuant to a public sale, private sale, judicial foreclosure or other proceeding brought by Administrative Agent, or by means of any other disposition by Administrative Agent, and that Administrative Agent now owns all right, title and interest in and to the First Lien Documents. As evidenced by execution hereof Borrower no longer owns or claims any right, title or interest in and to such First Lien Documents and hereby waives and relinquishes any and all claims thereto and all rights, titles and interests therein.
Sample 1
SUCCESSION IN INTEREST. On the date hereof and effective upon the consummation of the Acquisition, (a) Holding hereby expressly assumes the due and punctual payment of the principal of, premium, if any, and interest on, and any Additional Amounts with respect to, the Securities and the performance of Noble Drilling’s covenants and obligations under the Supplemented Indenture and the Securities; (b) Holding agrees to pay fully and promptly all amounts due to the Trustee and its agents under the Indenture; (c) Holding will succeed to, be substituted for, and may exercise every right and power of, Noble Drilling under the Indenture, with the same effect as if Holding had been named as the “Company” for purposes of the Indenture; and (d) Noble Drilling will be released from all of its covenants and obligations under the Indenture and the Securities. After the effectiveness of this Sixth Supplemental Indenture, for the purposes of the Indenture, the term the “Company” shall include Holding, Drilling Holding and NDS6 and, upon the consummation of the Acquisition, shall not include Noble Drilling. Noble Drilling shall promptly provide the Trustee written notice of the date of the consummation of the Acquisition.
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SUCCESSION IN INTEREST. In the event the HARBOR DISTRICT is dissolved or ceases to exist, the DISTRICT agrees to place in trust for the OYSTER POINT MARINA/PARK construction project, prior to dissolution, the amount of funds necessary to complete Phase I and II of the project above the available loans and grants not to exceed the sum of $700,000.00. CITY agrees that any such funds placed in trust shall be expended only for the development of the project as specified herein or portions thereof.
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Related to SUCCESSION IN INTEREST

  • Successor in Interest If the Account Owner dies before the entire interest in the account is distributed, the entire account will be disposed of as follows: • If the Beneficiary is the Account Owner’s spouse, the HSA will become the spouse’s HSA as of the date of death. • If the Beneficiary is not the Account Owner’s spouse, the HSA will cease to be an HSA as of the date of death. If the Beneficiary is the Account Owner’s estate, the fair market value of the account as of the date of death is taxable on the Account Owner’s final return. For other Beneficiaries, the fair market value of the account is taxable to that person in the tax year that includes such date.

  • Assignment; Successors in Interest No assignment or transfer by either party of such party’s rights and obligations hereunder shall be made except with the prior written consent of the other party hereto. This Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and permitted assigns, and any reference to a party shall also be a reference to the successors and permitted assigns thereof, including, without limitation, successors through merger, consolidation, or sale of substantially all of the Company’s equity interests or assets, and shall be binding upon Employee.

  • Successors in Interest This Agreement shall inure to the benefit of and be binding upon any successor to the Company. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company under this Agreement shall be binding upon the Grantee’s heirs, executors, administrators and successors.

  • Assignment; Parties in Interest This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their respective successors and assigns, but shall not be assigned by the parties hereto, by operation of law or otherwise, without the prior written consent of the other party. Except as otherwise expressly provided herein, nothing in this Agreement, expressed or implied, is intended to confer upon any other person any rights or remedies of any nature whatsoever under or by reason of this Agreement.

  • Admission of Successor General Partner A successor General Partner approved pursuant to Section 11.1 or 11.2 or the transferee of or successor to all of the General Partner Interest pursuant to Section 4.6 who is proposed to be admitted as a successor General Partner shall be admitted to the Partnership as the General Partner, effective immediately prior to the withdrawal or removal of the predecessor or transferring General Partner, pursuant to Section 11.1 or 11.2 or the transfer of the General Partner Interest pursuant to Section 4.6, provided, however, that no such successor shall be admitted to the Partnership until compliance with the terms of Section 4.6 has occurred and such successor has executed and delivered such other documents or instruments as may be required to effect such admission. Any such successor shall, subject to the terms hereof, carry on the business of the members of the Partnership Group without dissolution.

  • Successor General Partner Upon the occurrence of an event giving rise to a Withdrawal of a General Partner, any remaining General Partner, or, if there be no remaining General Partner, the Withdrawing General Partner or its legal representative, shall promptly notify the Special Limited Partner of such Withdrawal (the "Withdrawal Notice"). Whether or not the Withdrawal Notice shall have been sent as provided herein, the Special Limited Partner shall have the right to become a successor General Partner (and to become the successor managing General Partner if the Withdrawing General Partner was previously the managing General Partner). In order to effectuate the provisions of this Section 13.4 and the continuance of the Partnership, the Withdrawal of a General Partner shall not be effective until the expiration of 120 days from the date on which occurred the event giving rise to the Withdrawal, unless the Special Limited Partner shall have elected to become a successor General Partner as provided herein prior to expiration of such 120-day period, whereupon the Withdrawal of the General Partner shall be deemed effective upon the notification of all the other Partners by the Special Limited Partner of such election.

  • Additional Partnership Interests If the Partnership issues Partnership Interests in accordance with Section 4.2 or 4.3, the distribution priorities set forth in Section 5.1 shall be amended, as necessary, to reflect the distribution priority of such Partnership Interests and corresponding amendments shall be made to the provisions of Exhibit B.

  • Parties in Interest, Successors and Assigns Except as expressly set forth herein, this Agreement is made solely for the benefit of the Placement Agents, the Purchaser and the Offerors and any person controlling the Placement Agents, the Purchaser or the Offerors and their respective successors and assigns; and no other person shall acquire or have any right under or by virtue of this Agreement. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties.

  • Membership Interest The Member shall own one hundred percent (100%) of the membership interests in the LLC, and all profits and losses shall be allocated to the Member.

  • General Partnership Interest A number of Partnership Units held by the General Partner equal to one percent (1%) of all outstanding Partnership Units shall be deemed to be the General Partner Partnership Units and shall be the General Partnership Interest. All other Partnership Units held by the General Partner shall be Limited Partnership Interests and shall be held by the General Partner in its capacity as a Limited Partner in the Partnership.

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