Universal succession. If a Lender is to be merged with any other person by universal succession, that Lender shall, at its own cost, within 30 days of that merger furnish to the Agent:
Universal succession. (i) If a Revolving Lender is to be merged with any other Person by universal succession, such Revolving Lender shall, at its own cost within forty-five days of that merger furnish to Revolving Facility Administrative Agent:
Universal succession. TRANSFER OF PROPERTY
Universal succession. Due to the universal succession associated with the Merger, all assets, rights, receivables, obligations, liabilities, and all legal positions of the Transferring Company shall be transferred to the Acquiring Company, without any additional legal acts being required for this transfer.
Universal succession. On the Merger Day, the Acquiring Company will become the legal successor of the Acquired Companies and will assume all rights and obligations of the Acquired Companies (universal succession). 7 Appendices to the Merger plan
Universal succession. As a matter of Turkish law, an arbitration agreement concluded by a deceased will also bind his or her heirs (except the strictly personal rights). This result does not require the consent of the heirs to the transfer of rights and obligations. The same principles apply to the various instances of legal succession under company law, e.g. for mergers, spin-offs, restructurings and transfers of assets. The same considerations also apply in case of economically motivated restructurings of state-owned enterprises. A state-controlled enterprise must be considered bound by a valid arbitration agreement both before and after the restructuring.
