Common use of Successor Issuer Substituted Clause in Contracts

Successor Issuer Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of all or substantially all of the properties or assets of an Issuer in accordance with the foregoing in which such Issuer is not the surviving entity, the surviving Person formed by such consolidation or into or with which such Issuer is merged or to which such sale, assignment, transfer, conveyance, lease 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, lease or other disposition, the provisions of this Indenture referring to an “Issuer” shall refer instead to the successor Person and not to the predecessor Issuer), and may exercise every right and power of, such Issuer under this Indenture with the same effect as if such surviving Person had been named as the predecessor Issuer herein, and thereafter (except in the case of a lease of all or substantially all of such Issuer’s properties or assets), such Issuer will be relieved of all obligations and covenants under this Indenture and the Notes.

Successor Issuer Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, conveyancelease, lease conveyance or other disposition of all or substantially all of the properties or assets of an Issuer Vrio Xxxxx 1 in accordance a transaction that is subject to, and that complies with the foregoing in which such Issuer is not the surviving entityprovisions of, Section 5.01(a) hereof, the surviving Person successor corporation formed by such consolidation or into or with which such Issuer Vrio Xxxxx 1 is merged or to which such sale, assignment, transfer, conveyancelease, 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, assignmentlease, transfer, conveyance, lease conveyance or other disposition, the provisions of this Indenture referring to an the “IssuerVrio Xxxxx 1” shall refer instead to the successor Person and not to the predecessor Successor Issuer), and may exercise every right and power ofof Vrio Xxxxx 1, such Issuer as the case may be, under this Indenture with the same effect as if such surviving successor Person had been named as Vrio Xxxxx 1 herein. Upon the Successor Issuer succeeding and being substituted for the predecessor Issuer hereinPerson, and thereafter (except in the case of a lease of all or substantially all of such Issuer’s properties or assets), such Issuer will predecessor Person shall be automatically relieved of all of its obligations and covenants under this Indenture Indenture, the Notes and the Notesother documentation relating thereto.

Successor Issuer Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of all or substantially all of the properties or assets of an the Issuer in accordance a transaction that is subject to, and that complies with the foregoing in which such Issuer is not the surviving entityprovisions of, Section 5.01 hereof, the surviving successor Person formed by such consolidation or into or with which such the Issuer is merged or to which such sale, assignment, transfer, conveyance, lease 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, lease or other disposition, the provisions of this Indenture referring to an “Issuer” shall refer instead to the successor Person and not to the predecessor Issuer), and may exercise every right and power of, such of the Issuer under this Indenture with the same effect as if such surviving successor Person had been named as the predecessor Issuer herein; provided, and thereafter (except however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of, premium on or interest on the Notes in the case of a lease of all or substantially all of such the Issuer’s properties or assets)assets in a transaction that is subject to, such Issuer will be relieved of all obligations and covenants under this Indenture and that complies with the Notesprovisions of, Section 5.01 hereof.

Successor Issuer Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of all or substantially all of the properties or assets of an Issuer in accordance a transaction that is subject to, and that complies with the foregoing in which such Issuer is not the surviving entityprovisions of, Section 6.01 hereof, the surviving successor Person formed by such consolidation or into or with which such Issuer is merged or to which such sale, assignment, transfer, conveyance, lease 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, conveyancelease, lease conveyance or other disposition, the provisions of this Indenture referring to an “Issuer” shall refer instead to the successor Person and not to the predecessor Issuer), and may exercise every right and power of, of such Issuer under this Indenture with the same effect as if such surviving successor Person had been named as the predecessor Issuer herein; provided, and thereafter (except however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of, or premium or interest, if any, on, the Notes in the case of a lease of all or substantially all of such Issuer’s properties or assets)assets in a transaction that is subject to, such Issuer will be relieved of all obligations and covenants under this Indenture and that complies with the Notesprovisions of, Section 6.01 hereof.