Common use of Successor Entity Substituted Clause in Contracts

Successor Entity Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor entity or Person formed by such consolidation or into or with which the Company, is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor entity or Person has been named as the Company herein, and upon such succession and substitution, the Company shall be released from all of its obligations and liabilities under this Indenture and the Securities.

Appears in 13 contracts

Samples: Indenture (Multiband Corp), Indenture (Twin Cities Power Holdings, LLC), Indenture (Twin Cities Power Holdings, LLC)

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Successor Entity Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor entity or Person formed by such consolidation consolidation, or the Person into or with which the Company, Company is merged or to which such sale, lease, conveyance or other disposition is made made, shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor entity or Person has been named as the Company herein, and upon . Upon such succession and substitution, the Company shall be released from all of its obligations and liabilities under this Indenture and the Securities.

Appears in 3 contracts

Samples: Indenture (GWG Life, LLC), Indenture (GWG Holdings, Inc.), Indenture (GWG Holdings, Inc.)

Successor Entity Substituted. Upon any consolidation or consolidation, merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor entity or Person formed by such consolidation consolidation, or the Person into or with which the Company, Company is merged or to which such sale, lease, conveyance or other disposition is made made, shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor entity or Person has been named as the Company herein, and upon . Upon such succession and substitution, the Company shall be released from all of its obligations and liabilities under this Indenture and the Securities.

Appears in 2 contracts

Samples: GWG Holdings, Inc., GWG Life, LLC

Successor Entity Substituted. Upon any consolidation consolidation, combination or merger, merger or any sale, lease, conveyance or other disposition transfer of all or substantially all of the assets of the Company in accordance with Section 5.1the foregoing, in which the Company is not surviving or the continuing corporation, the successor entity or Person formed by such consolidation or into or with which the Company, Company is merged or to which such saleconveyance, lease, conveyance lease or other disposition transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such successor surviving entity or Person has had been named as the Company herein, and upon such. Upon such succession and substitution, substitution the Company shall be released from all of its obligations and liabilities under this Indenture and the Securities.Indenture. ARTICLE SIX

Appears in 1 contract

Samples: Indenture (Claymont Steel Holdings, Inc.)

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Successor Entity Substituted. Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor entity or Person formed by such consolidation or into or with which the Company, is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor entity or Person has been named as the Company herein, and upon such succession and substitution, the Company shall be released from all of its obligations and liabilities under this Indenture and the Securities.

Appears in 1 contract

Samples: Indenture (Onyx Acceptance Corp)

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