Common use of Mergers and demergers Clause in Contracts

Mergers and demergers. Except with the prior written consent of the Required Lenders, the Obligors will not, and shall procure that no other member of the Group will (i) enter into any merger or consolidation with any other company unless with another Group member and each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents or (ii) demerge itself into any two or more companies.

Mergers and demergers. Except with the prior written consent of the Required Lenders, the Obligors will not, and shall procure that no other member of the Group will not (i) enter into any merger or consolidation with any other company unless with another Group member and each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents or Documents, (ii) demerge itself into any two or more companiescompanies or (iii) undertake any other form of corporate restructuring.

Mergers and demergers. Except with the prior written consent of the Required LendersMajority, the Obligors will not, and shall procure that no other member of the Group will (i) enter into any merger or consolidation with any other company unless with another Group member and each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents or (ii) demerge itself into any two or more companiescompanies or (iii) undertake any corporate restructuring.

Mergers and demergers. (a) Except with the prior written consent of the Required Lenders, the Obligors will not, and shall procure that no other member of the Group will (i) enter into any merger or consolidation with any other company unless with another Group member and (a) each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents and (b) the Borrower will continue to be a special purpose company, owning only its Drillship or (ii) demerge itself into any two or more companies.

Mergers and demergers. Except with the prior written consent of the Required LendersMajority, the Obligors will not, and shall procure that no other member of the Group will (i) enter into any merger or consolidation with any other company unless (a) with another Group member and (b) each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents and (c) the Borrower will continue to be a special purpose company, owning only the Drilling Unit or (ii) demerge itself into any two or more companies.companies or (iii) undertake any corporate restructuring. EXECUTION VERSION

Mergers and demergers. (a) Except with the prior written consent of the Required Lenders, the Obligors will not, and shall procure that no other member of the Group will (i) enter into any merger or consolidation with any other company unless with another Group member and (a) each Obligor will survive as a separate legal entity remaining bound in all respects by its obligations and liabilities under the Finance Documents and (b) the Borrower will continue to be a special purpose company, owning only the Drillship or (ii) demerge itself into any two or more companies.