Common use of Guarantee on Mergers and Acquisitions Clause in Contracts

Guarantee on Mergers and Acquisitions. In case either Party (hereinafter referred to as the “Acquired Party”) is merged with or acquired or have sold of all or substantially all of its assets by a Third Party (hereinafter referred to as the “Acquiring Party”), the Acquired Party shall have such Acquiring Party to agree with the other Party to provide written assurance that the Acquiring Party will continue to perform and comply with all of the rights and obligations of the Acquired Party under this Agreement. In case any such assurance is not obtained within six (6) months of the effective date of such merger or acquisition, such other Party shall have the right and option to terminate this Agreement at any time within six (6) months after expiration of such six (6) month period, by ninety (90) days’ notice in writing to the Acquired Party.

Guarantee on Mergers and Acquisitions. In case either any Party (hereinafter referred to as the “Acquired Party”) is merged with or acquired by or have has sold of all or substantially all of its assets by to a Third Party (hereinafter referred to as the “Acquiring Party”), the Acquired Party shall have such obtain from the Acquiring Party a written assurance addressed to agree with the other Party to provide written assurance Parties stating that the Acquiring Party will continue agrees be to bound by and perform and comply with all of the rights and obligations of the Acquired Party under this Agreement. In case any such assurance is not obtained within six (6) months of the effective date of such merger merger, acquisition or acquisitionsale, such other Party Parties shall have the right and option to terminate this Agreement at any time within six (6) months after the expiration of such six (6) month period, by ninety (90) days’ notice in writing to the Acquired Party.