Organic Changes. Either directly or indirectly, (a) merge or consolidate Borrower, with or into any other corporation or entity, except that Borrower may merge or consolidate with any of its affiliates, but only if Borrower is the surviving corporation; or (b) sell (in bulk), lease or otherwise dispose of all or substantially all of the property of Borrower, unless the transferee or the lessee shall be acceptable to the Bank, which acceptance must in writing and issued by the Bank prior to any such sale, lease or other disposition, and such transferee shall have assumed the Loan.
Appears in 2 contracts
Sources: Revolving Credit Loan and Security Agreement, Revolving Credit Loan and Security Agreement (Odyssey Marine Exploration Inc)