Existing Company Loans. (a) With respect to each Existing Company Loan, the Company, in its sole and absolute discretion, shall either (i) cause the Surviving Company to assume the Existing Loan at the Closing or (ii) cause the Existing Company Loan to be refinanced or repaid in connection with the Closing, in each case, subject to obtaining any necessary consent, if applicable, from the lender, agent or servicer, as applicable, with respect to such Existing Company Loan (the “Lender”) prior to Closing; provided, however, that if the Company elects to proceed under clause (i) of this sentence with respect to an Existing Company Loan, the Company may nonetheless, in its sole and absolute discretion, cause such Existing Company Loan to be refinanced or repaid at or prior to the Closing.
Appears in 19 contracts
Samples: Agreement and Plan of Merger (MedAmerica Properties Inc.), Agreement and Plan of Merger (MedAmerica Properties Inc.), Agreement and Plan of Merger (MedAmerica Properties Inc.)
