Common use of Successor Guarantor Substituted Clause in Contracts

Successor Guarantor Substituted. In the event that a Guarantor (the “predecessor Guarantor”) is merged or consolidated with another Person (other than the Company or another Guarantor) in a transaction where such other Person is the surviving entity (the “successor Guarantor”) and the successor Guarantor is a guarantor under the Senior Credit Facility, the Company shall cause the successor Guarantor to promptly, by an indenture supplemental hereto complying with the provisions of Section 12.1, executed and delivered to the Trustee, expressly assume the obligations of the predecessor Guarantor, just as fully and effectually as if such successor Guarantor had been an original party hereto. Thereafter, unless otherwise specified pursuant to Section 2.2 for the Debt Securities of any series, all obligations of the predecessor Guarantor with respect to the Debt Securities of such series shall terminate. Every such successor Guarantor, upon executing an indenture supplemental hereto as provided in this Section 14.7 in form satisfactory to the Trustee, shall succeed to and be substituted for predecessor Guarantor with the same effect as if it had been named herein as a Guarantor; and any order, certificate or resolution of the Board or officers of a Guarantor provided for in this Indenture may be made by like officials of such successor Guarantor.