Successor Transferee Sample Clauses
The Successor Transferee clause defines how rights and obligations under an agreement are transferred to a party's successor or assignee. Typically, this clause ensures that if a party undergoes a merger, acquisition, or other change in control, the new entity automatically assumes the original party's contractual responsibilities and benefits. This provision is crucial for maintaining continuity and enforceability of the contract, preventing disruption or uncertainty if ownership or control of a party changes during the contract term.
Successor Transferee. (a) Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a), the Person formed by or surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the Issuer herein.
(b) Upon a conveyance or transfer of all or substantially all the assets or properties of the Issuer pursuant to Section 3.10(b), the Issuer will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Indenture Trustee and the Insurer stating that the Issuer is to be so released.
Successor Transferee. 23 Section 3.12
Successor Transferee. 23 Section 3.12 No Other Business.......................................................23 Section 3.13 Servicer's Obligations..................................................23 Section 3.14
Successor Transferee. (a) Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a) hereof, the Person formed by or surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the Issuer herein.
(b) Upon a conveyance or transfer of all or substantially all the assets and properties of the Issuer pursuant to Section 3.10(b) hereof, the Issuer will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Indenture Trustee from the Person acquiring such assets and property stating that the Issuer is to be so released.
Successor Transferee. 26 Section 3.13 No Other Business........................................................ 26 Section 3.14
Successor Transferee. 32 SECTION 3.12 No Other Business............................................................ 32 SECTION 3.13 No Borrowing................................................................. 32 SECTION 3.14 Servicer's Obligations....................................................... 32 SECTION 3.15 Guarantees, Loans, Advances and Other Liabilities............................ 32 SECTION 3.16 Capital Expenditures......................................................... 33 SECTION 3.17