Common use of Successor Company Substituted Clause in Contracts

Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all the assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporation), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and the predecessor Company shall be released from all its obligations hereunder and under the Notes. (b) The sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all its property or assets taken as a whole to one or more of the Company's Subsidiaries shall not relieve the Company from its obligations under the Indenture and the Notes.

Appears in 7 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Lyondell Chemical Nederland LTD), Indenture (Lyondell Chemical Nederland LTD)

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Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all the assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporation), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and the predecessor Company shall be released from all its obligations hereunder and under the Notes. (b) The sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all its property or assets taken as a whole to one or more of the Company's ’s Subsidiaries shall not relieve the Company from its obligations under the Indenture and the Notes.

Appears in 3 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Lyondell Refining LP, LLC), Indenture (Lyondell Chemical Co)

Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties or assets of the Company in accordance with Section 5.01 hereof, the successor corporation Successor Company formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporationSuccessor Company and not to the Company), and may exercise every right and power of, of the Company under this Indenture with the same effect as if such successor Person corporation had been named as the Company herein; provided, and however, that the predecessor Company shall not be released from all its obligations hereunder and under the Notes. (b) The sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all its property or assets taken as a whole to one or more of the Company's Subsidiaries shall not relieve the Company relieved from its obligations under this Indenture or the Indenture and Notes in the Notescase of any such lease.

Appears in 2 contracts

Samples: Indenture (Hornbeck Offshore Services Inc /La), Indenture (Hornbeck Offshore Services Inc /La)

Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all the assets of the Company in accordance with Section 5.01 hereof, the successor corporation Person formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporationPerson), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and the predecessor Company shall be released from all its obligations hereunder and under the Notes. (b) The sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all its property or assets taken as a whole to one or more of the Company's Subsidiaries shall not relieve the Company from its obligations under the Indenture and the Notes.

Appears in 2 contracts

Samples: Indenture (Equistar Chemicals Lp), Indenture (Lyondell Chemical Co)

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Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all the assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporation), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and the predecessor Company shall be released from all its obligations hereunder and under the Notes. (b) The sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all its property or assets taken as a whole to one or more of the Company's ’s Subsidiaries shall not relieve the Company from its obligations under the this Indenture and the Notes.

Appears in 2 contracts

Samples: Indenture (Lyondell Chemical Co), Indenture (Lyondell Houston Refinery Inc.)

Successor Company Substituted. (a) Except as provided in Section 5.02(b), upon Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the "Company" shall refer instead to the successor corporation), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and the predecessor Company shall be released from all of its obligations hereunder and under the Notes. (b) The Notwithstanding the foregoing, the sale, assignment, transfer, lease, conveyance or other disposition by the Company of all or substantially all of its property or assets taken as a whole to one or more an Affiliate of the Company's Subsidiaries Company shall not relieve the Company from its obligations under the this Indenture and the Notes.

Appears in 1 contract

Samples: Indenture (Triarc Companies Inc)

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