Common use of Effect of Merger, Transfer of Assets, or Dissolution Clause in Contracts

Effect of Merger, Transfer of Assets, or Dissolution. This Agreement shall be automatically terminated by any voluntary or involuntary dissolution of Company resulting from either a merger or consolidation in which Company is not the consolidated or surviving corporation, or a transfer of all or substantially all of the assets of Company.

Effect of Merger, Transfer of Assets, or Dissolution. This Agreement shall not be automatically terminated by any voluntary or involuntary dissolution of the Company resulting from either a merger or consolidation in which the Company is not the consolidated or surviving corporationentity, or a transfer of all or substantially all of the assets of the Company. In the event of any such merger or consolidation or transfer of assets, the Company's rights, benefits, and obligations under this Agreement shall be assigned to and assumed by the surviving or resulting entity or the transferee of the Company's assets.