Successor Obligor definition
Examples of Successor Obligor in a sentence
The Successor Obligor shall assume, in a writing or writings satisfying the Prudent Lender Standard, all of Borrower’s obligations under the Full Defeased Note or the Defeased Note, as the case may be, the other Loan Documents and the Security Agreement and, upon such assignment, Borrower shall, except as set forth herein, be relieved of its obligations hereunder.
Successor Obligor Substituted..............................................................
The Successor Obligor shall assume, in a writing or writings satisfactory to Lender in Lender's discretion, all of Borrower's obligations under the Note, the other Loan Documents and the Security Agreements and, upon such assignment Borrower shall, except as set forth herein, be relieved of its obligations hereunder.
The Successor Obligor shall assume, in a writing or writings reasonably satisfactory to Lender in Lender's discretion, all of Borrower's obligations under the Note, each Related Note, the other Loan Documents and the other Related Loan Documents and the Defeasance Security Agreement and, upon such assignment Borrower and Guarantor shall, except as set forth herein, be relieved of its obligation under all the Loan Documents and all of the Related Loan Documents.
Pursuant to, and in compliance and accordance with, Section 8.2 of the Indenture, the Successor Obligor succeeds to and is substituted for, and may exercise every right and power of, the Company under the Indenture, with the same effect as if the Successor Obligor had originally been named in the Indenture as the Company, and the Company is discharged from all obligations and covenants under the Indenture and the Securities.
The Trustee assumes no responsibility for the correctness of the recitals contained herein, each of which shall be taken as a statement of the Company or the Successor Obligor.
Pursuant to, and in compliance and accordance with, Section 8.1 and Section 8.2 of the Indenture, the Successor Obligor hereby expressly assumes the due and punctual payment of the principal of (and premium, if any) and interest (including any Additional Interest) on all of the Securities and the performance of every covenant in the Indenture on the part of the Company to be performed or observed.
The Trustee makes no representations as to and shall not be responsible in any manner whatsoever for the validity or sufficiency of this Fourth Supplemental Indenture or the due execution hereof by the Company or the Successor Obligor.
This Second Supplemental Indenture shall become binding upon the Trustee, the Company, the Successor Obligor and holders of the Junior Debentures simultaneously with the effectiveness of the Merger.
Upon the execution and delivery of this Supplemental Indenture, all references in the Original Indenture to the "Company" shall mean the Successor Obligor.