Common use of Successor Guarantor Substituted Clause in Contracts

Successor Guarantor Substituted. Upon any consolidation of the Guarantor with, or merger of the Guarantor into, any other Person or any transfer, conveyance, sale, lease or other disposition of all or substantially all of the assets of the Guarantor in accordance with Section 803, the Successor Guarantor shall succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been named as the Guarantor herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Guarantee.

Successor Guarantor Substituted. Upon any consolidation of the Guarantor with, or merger of the Guarantor into, any other Person or any transfer, conveyance, sale, lease or other disposition of all or substantially all of the assets of the Guarantor in accordance with Section 803, the Successor Guarantor shall succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been named as the Guarantor herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Guarantee.. ARTICLE NINE