Universal Successor definition
Universal Successor means, with respect to a Reference Entity which is not a sovereign, the single entity which assumes all of the obligations (including at least one relevant bond or loan) of the Reference Entity and at the time of the determination either (i) the Reference Entity has ceased to exist, or (ii) the Reference Entity is in the process of being dissolved (however described) and the Reference Entity has not issued or incurred any borrowed money obligation at any time since the legally effective date of the assumption.
Universal Successor means, with respect to the Reference Entity, the single entity which assumes all of the obligations (including at least one relevant bond or loan) of the Reference Entity and at the time of determination, either (A) the Reference Entity has ceased to exist, or
Universal Successor means, with respect to a Reference Entity which is not a sovereign, the single entity which assumes all of the obligations (including at least one obligation that qualifies as a Relevant Obligation under the 2014 Definitions) of the Reference Entity and at the time of the determination either
Examples of Universal Successor in a sentence
Transporter reserves the transfer rights to the Universal Successor or Singular Successor of its rights, liabilities and obligations arising from this Contract.
More Definitions of Universal Successor
Universal Successor means, with respect to a Reference Entity which is not a