Delaware LLC definition
Examples of Delaware LLC in a sentence
The Merger shall become effective upon the later of such time as the Articles of Merger have been accepted for record by the SDAT and the Merger Certificate has been accepted for record by the DSOS, or such later time that the Parties shall have agreed upon and designated in the Articles of Merger in accordance with the MGCL and the Merger Certificate in accordance with the Delaware LLC Act as the effective time of the Merger (the “Effective Time”).
The Loan Parties shall not, and shall not permit any of its Subsidiaries to, dissolve, liquidate or wind-up its affairs, or become a party to any merger or consolidation, or consummate any Delaware LLC Division; provided that any Loan Party other than the Borrower may consolidate or merge into another Loan Party which is wholly-owned by one or more of the other Loan Parties.
The Merger shall have the effects provided in this Agreement and as specified in the applicable provisions of the MGCL and the Delaware LLC Act.
Upon the terms and subject to the satisfaction or waiver of the conditions of this Agreement, and in accordance with the MGCL and the Delaware LLC Act, at the Effective Time, Company and Merger Sub shall consummate the Merger pursuant to which (i) Company shall be merged with and into Merger Sub, whereupon the separate existence of Company shall cease, and (ii) Merger Sub shall continue as the Surviving Entity.