Common use of Permitted Restructuring Clause in Contracts

Permitted Restructuring. Notwithstanding anything in this Agreement or any other Transaction Document to the contrary, each Subsidiary Guarantor shall be entitled to be liquidated, dissolved or wound up or to be merged with or otherwise transfer any of its assets and liabilities to the Company or one or more Subsidiaries of the Company, so long as the Subsidiary Guarantor (x) gives the Purchasers at least 20 days’ prior written notice of such transaction and (y) delivers to the Purchasers all such documents and takes all such other actions as are reasonably requested by the Majority Holders in order to ensure that the Company or one or more of its Subsidiaries assumes all obligations of such Subsidiary Guarantor under its Subsidiary Guaranty.