Successor Person Substituted for Issuers. Upon any consolidation by either of the Issuers with or merger of either of the Issuers into any other Person or any conveyance, transfer or lease of the properties and assets of either of the Issuers substantially as an entirety to any Person in accordance with Section 8.1, the successor Person formed by such consolidation or into which either of the Issuers is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, either of the Issuers under this Indenture with the same effect as if such successor Person had been named as the Issuer herein; and thereafter, except in the case of a lease, the predecessor Person shall be released from all obligations and covenants under this Indenture, the Securities and the Coupons.
Appears in 8 contracts
Samples: Indenture (Teekay Offshore Finance Corp.), Indenture (Teekay Offshore Finance Corp.), Indenture (Teekay LNG Finance Corp.)
