Successor Obligor definition

Successor Obligor has the meaning provided in Section 2.10.
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Successor Obligor shall have the meaning provided in Section ----------------- ------- 2.11(b). -------
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Successor Obligor has the meaning set forth in Section 0 (Successor company).
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Examples of Successor Obligor in a sentence

  • Accordingly, Liberty is entitled to a declaration that the Capital Splitoff does not violate the Successor Obligor Provision.

  • The Successor Obligor Provision recognizes that aggregation may occur by providing that Liberty can comply with the Successor Obligor Provision only if “immediately after giving effect to such transaction or series of transactions, no Event of Default or event which, after notice or lapse of time, or both, would become an Event of Default, shall have occurred and be continuing.” Indenture § 801(2) (emphasis added).

  • The Successor Obligor Provision in this case and the standard form successor obligor provision found in the Commentaries use other familiar corporate verbs like “consolidate,” “merge,” “assign,” “transfer,” “lease,” and “convey.” It is hard to fathom that a plain reading of the word “merge” – when used as an undefined term – could generate one meaning in an indenture and another under the corporate statute that gives life to the debtor entity.

  • There is authority suggesting that the concept of “substantially all” could mean different things in these differing contexts.3 The Trustee has stressed these authorities in arguing that the term “substantially all” in the Successor Obligor Provision should allow Liberty less freedom of action than would the same term under Section 271.

  • Plaintiffs are entitled to judgment declaring that the Capital Splitoff as currently structured complies with the Successor Obligor Provision.

  • Hensley, Successor Obligor Clauses: Transferring “All of Substantially All” Corporate Assets in Spin-Off Transactions, Colorado Lawyer 45 (Feb.

  • The parties dispute whether Liberty has breached the Successor Obligor Provision by disposing of substantially all its assets.

  • It is undisputed that, if considered in isolation, and without reference to any prior asset distribution, the Capital Splitoff would not constitute a transfer of substantially all of Liberty’s assets or violate the Successor Obligor Provision.The Court of Chancery concluded, after a trial, that the four transactions should not be aggregated, and entered judgment for Liberty.

  • The Court of Chancery concluded that the proposed splitoff is not “sufficiently connected” to the prior transactions to warrant aggregation for purposes of the Successor Obligor Provision.

  • The trial testimony established–and the Trustee admits–that the Successor Obligor Provision was never a subject of negotiations between the parties in the case.


More Definitions of Successor Obligor

Successor Obligor shall have the meaning provided in Section 2.11(b).
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Successor Obligor has the meaning provided in Section 2.6(h).
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Successor Obligor. Substitute Loan Documents," "Substitute Property," "Ten Year Treasury Rate," "Treasury Rate," "Unpaid Excess Loan Amount," "Underwriting NOI Criteria," "Unpaid Excess Loan Amount," "Warrant," "Security Agreement."
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Successor Obligor has the meaning set forth in Section 3 (Successor company).
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Related to Successor Obligor

  • Successor Guarantor shall have the meaning specified in Section 11.02(a).

  • Successor Issuer has the meaning assigned to it in Section 4.1(a).

  • Successor Entity means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Successor Guarantee Trustee means a successor Guarantee Trustee possessing the qualifications to act as Guarantee Trustee under Section 4.1.

  • Successor Borrower has the meaning assigned to such term in Section 6.07(a).

  • Successor Capital Securities Guarantee Trustee means a successor Capital Securities Guarantee Trustee possessing the qualifications to act as Capital Securities Guarantee Trustee under Section 4.1.

  • Successor Preferred Guarantee Trustee means a successor Preferred Guarantee Trustee possessing the qualifications to act as Preferred Guarantee Trustee under Section 4.1.

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Successor in Interest means any (i) shareholder of; (ii) trustee, custodian, receiver or other person acting in any Bankruptcy or reorganization proceeding with respect to; (iii) assignee for the benefit of the creditors of; (iv) officer, director or partner of; (v) trustee or receiver, or former officer, director or partner, or other fiduciary acting for or with respect to the dissolution, liquidation or termination of; or (vi) other executor, administrator, committee, legal representative or other successor or assign of, any Partner, whether by operation of law or otherwise.

  • Successor Operator means a Train Operator succeeding or intended by the Secretary of State to succeed (and whose identity is notified to the Franchisee by the Secretary of State) the Franchisee in the provision or operation of all or any of the Franchise Services including, where the context so admits, the Franchisee where it is to continue to provide or operate the Franchise Services following termination of the Franchise Agreement;

  • successor in business means any company which, as a result of any amalgamation, merger or reconstruction: (a) owns beneficially the whole or substantially the whole of the undertaking, property and assets owned by the Issuer immediately prior thereto; and (b) carries on, as successor to the Issuer, the whole or substantially the whole of the business carried on by the Issuer immediately prior thereto.

  • Original Guarantor means the Persons identified as such in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter each such successor Person shall be an “Original Guarantor”.

  • Successor means an entity that has replaced a predecessor by acquiring the assets and carrying out the affairs of the predecessor under a new name (often through acquisition or merger). The term "successor" does not include new offices/divisions of the same company or a company that only changes its name. The extent of the responsibility of the successor for the liabilities of the predecessor may vary, depending on State law and specific circumstances.

  • Successor Master Servicer The meaning ascribed to such term pursuant to Section 8.02.

  • Obligor on the indenture securities means the Issuer and any other obligor on the indenture securities. All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission rule have the meaning assigned to them by such definitions.

  • Successor Index means any substitute index approved by the Calculation Agent as a Successor Index pursuant to Section 3 hereof.

  • Guarantor Obligations with respect to any Guarantor, all obligations and liabilities of such Guarantor which may arise under or in connection with this Agreement (including, without limitation, Section 2) or any other Loan Document to which such Guarantor is a party, in each case whether on account of guarantee obligations, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by such Guarantor pursuant to the terms of this Agreement or any other Loan Document).

  • Successor of a beneficiary means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver.

  • Successor in Interest of Borrower means any party that has taken title to the Property, whether or not that party has assumed Borrower’s obligations under the Note and/or this Security Instrument.

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Guarantor means: .............................................................................................................................................

  • Secondary obligor means an obligor to the extent that: