Common use of Prohibition of Fundamental Changes Clause in Contracts

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 13 contracts

Samples: Master Loan and Security Agreement (Aames Investment Corp), Master Loan and Security Agreement (Fleetwood Enterprises Inc/De/), Loan and Security Agreement (Aames Financial Corp/De)

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Prohibition of Fundamental Changes. The No Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the a Borrower may merge or consolidate with (a) any wholly owned subsidiary of the such Borrower, or (b) any other Person if the such Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 6 contracts

Samples: Master Loan and Security Agreement (Aames Financial Corp/De), Master Loan and Security Agreement (Aames Financial Corp/De), Master Loan and Security Agreement (Aames Investment Corp)

Prohibition of Fundamental Changes. The Neither Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the such Borrower may merge or consolidate with (a) any wholly owned subsidiary of the such Borrower, or (b) any other Person if the such Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 5 contracts

Samples: Loan and Security Agreement (Aames Investment Corp), Loan and Security Agreement (Aames Financial Corp/De), Loan and Security Agreement (Aames Financial Corp/De)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporationentity; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 4 contracts

Samples: Loan and Security Agreement (PennyMac Mortgage Investment Trust), Loan and Security Agreement (Pennymac Financial Services, Inc.), Loan and Security Agreement (Pennymac Financial Services, Inc.)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 3 contracts

Samples: Master Loan and Security Agreement (Newtek Business Services Inc), Administration Agreement (American Business Financial Services Inc /De/), Loan Agreement (American Business Financial Services Inc /De/)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; providedPROVIDED, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided furtherPROVIDED FURTHER, that if after giving effect thereto, no Default would exist hereunder.

Appears in 2 contracts

Samples: Master Loan and Security Agreement (Aames Financial Corp/De), Master Loan and Security Agreement (Hanover Capital Mortgage Holdings Inc)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; corporation and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary Subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 1 contract

Samples: Master Loan and Security Agreement (MortgageIT Holdings, Inc.)

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Prohibition of Fundamental Changes. The Borrower Neither of the Borrowers ---------------------------------- shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the such Borrower may merge or consolidate with (a) any wholly owned subsidiary of the such Borrower, or (b) any other Person if the such Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary Subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.

Appears in 1 contract

Samples: Master Loan and Security Agreement (Doral Financial Corp)

Prohibition of Fundamental Changes. The Borrower shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its assets; provided, that the Borrower may merge or consolidate with (a) any wholly owned subsidiary of the Borrower, or (b) any other Person if the Borrower is the surviving corporation; and provided further, that if after giving effect thereto, no Default would exist hereunder.or

Appears in 1 contract

Samples: Loan and Security Agreement (Resource America Inc)

Prohibition of Fundamental Changes. The Borrower Borrowers shall not enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself themselves (or suffer any liquidation, winding up or dissolution) or sell all or substantially all of its their assets; providedPROVIDED, that the Borrower Borrowers may merge or consolidate with (a) any wholly owned subsidiary of the BorrowerHCMH, or (b) any other Person if the respective Borrower is the surviving corporation; and provided furtherPROVIDED FURTHER, that if after giving effect thereto, no Default would exist hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Hanover Capital Mortgage Holdings Inc)

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