Common use of Sale of Assets; Consolidation; Merger Clause in Contracts

Sale of Assets; Consolidation; Merger. (a) The Company will not, and will not permit any Significant Subsidiary to, Dispose of all or substantially all of its properties and assets to any Person; provided that this provision shall not apply to any such Disposition by any Significant Subsidiary to the Company or to any other Subsidiary (which is or by reason of such transfer becomes a Significant Subsidiary) in which the Company owns all of the voting capital stock or other equity or voting interests that are ordinarily entitled, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such Subsidiary.