Common use of Division Clause in Contracts

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 22 contracts

Sources: Credit Agreement (Texas Pacific Land Corp), Credit Agreement (Creative Realities, Inc.), Term Loan Agreement (NETSTREIT Corp.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): ) (a “Division”), if (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 10 contracts

Sources: Credit Agreement and Guaranty (Verona Pharma PLC), Credit Agreement and Guaranty (Harrow, Inc.), Credit Agreement (scPharmaceuticals Inc.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): ) (a “Division”), if (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests equity interests at such time.

Appears in 10 contracts

Sources: Credit Agreement (Nuvation Bio Inc.), Credit Agreement and Guaranty (BioXcel Therapeutics, Inc.), Super Priority Senior Secured Priming Debtor in Possession Credit Agreement (Tpi Composites, Inc)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 5 contracts

Sources: Credit Agreement (Texas Roadhouse, Inc.), Credit Agreement (Texas Roadhouse, Inc.), Credit Agreement (Texas Roadhouse, Inc.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time. (c) Section 2.13(a) of the Credit Agreement is hereby amended and restated in its entirety as follows:

Appears in 4 contracts

Sources: First Amendment and Joinder Agreement, First Amendment and Joinder Agreement (Antero Midstream GP LP), First Amendment and Joinder Agreement (Antero Midstream Partners LP)

Division. For all purposes under the Loan DocumentsCredit Agreement, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s lawslaw): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 4 contracts

Sources: Forbearance Agreement (J.Jill, Inc.), Forbearance Agreement (J.Jill, Inc.), Forbearance Agreement (J.Jill, Inc.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time. ARTICLE II CREDIT FACILITY Section 2.1. [Reserved].

Appears in 3 contracts

Sources: Term Loan Agreement (NETSTREIT Corp.), Term Loan Agreement (NETSTREIT Corp.), Credit Agreement (NETSTREIT Corp.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law Law (including any Delaware LLC Division) or any comparable event under a different jurisdiction’s laws): , as applicable: (a) if any asset, right, obligation or liability of any Person person becomes the asset, right, obligation or liability of a different Personperson, then it shall be deemed to have been transferred from the original Person person to the subsequent Personperson, and (b) if any new Person person comes into existence, such new Person person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such timeInterests.

Appears in 3 contracts

Sources: Credit Agreement (Canopy Growth Corp), Credit Agreement (Canopy Growth Corp), Credit Agreement (Canopy Growth Corp)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws) (a “Division”): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 2 contracts

Sources: Credit Agreement (Delphi Technologies PLC), Credit Agreement (Delphi Technologies PLC)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under the Delaware law Limited Liability Company Act (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person that is a limited liability company becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 2 contracts

Sources: Senior Secured Term Loan Credit Agreement (Internap Corp), Second Out Term Loan Credit Agreement (Internap Corp)

Division. For all purposes under the Loan Credit Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.. ARTICLE II

Appears in 1 contract

Sources: Credit Agreement (Carrols Restaurant Group, Inc.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests Stock at such time.

Appears in 1 contract

Sources: Loan and Security Agreement (Aerocentury Corp)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests Capital Stock at such time.

Appears in 1 contract

Sources: Term Loan Agreement (Beazer Homes Usa Inc)

Division. For all purposes under the Margin Loan DocumentsDocumentation, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 1 contract

Sources: Margin Loan Agreement (Viking Cake BR, LLC)

Division. For all purposes under the Loan Credit Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.

Appears in 1 contract

Sources: Credit Agreement (Carrols Restaurant Group, Inc.)

Division. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests equity interests at such time.

Appears in 1 contract

Sources: Credit Agreement (Ares Acquisition Corp)