HomeMy WebLinkAbout1476 , . ii.' _ .
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snbstituted for thc Gompauy under this Lease with tL s same effect
as if snch successor oorporation or tranaferee bad been named herein '
as the Company; provided, hoR e~~er, that no such u~erger or consoli- ;
dation or transfer of snbstantially all the assets of the Company shall
be effected unless tLe successor corporation (if not the Company) or
transferee ahall Lave assnmed the dne performance of the obligations
of the Company nnder this Lease and tLe Asaignment. IIpon the effec-
tiveness of snch asenmption, the Company, if it ia not tLe successor
oorporation in any aneh merger or eonaolidation, aLall have no fnrther
obligationa nnder this Lease or nnder any instrnment of assiqnment
thereof or nnder the Assignment.
(e) Special Circumstances. The Company agrees that ahonld, for
any reason, ite corporate e~stence be terminated (otherwise than by
` merger or consolidation or following the release and discharge of its
~ obligations herennder pnrsnant to Paragraph 25(b) or clause (iii) of
E Parag?raph 25(a)), or if a receiver or trastee or trnstees ahall be :
~ appointed by a conrt of competent jnrisdiction to take charge of ita
~ bnsineaa or asseta, or if the Company shonld be adjudicated a bankrnpt, ~
i whether or nat through voluntary proceedings, and snch receiverahip
r or bankrnptcy proceedinga are not dismissed within a period of 90 days
thereafter, there shall forthwith and antomatically becomc dne and
payable by tLe Company, and tLe Company sball immediately pay to
the Trnstee for deposit in the Debt Service Fnnd, an amount eqnal to
the snm of (i) the principal of and accrned interest on the Notes, plnR
~ (u) any applicable premium that wonld be payable if the Notes were to .
~ be prepaid at the neat following Note Payment Date npon which anch
prepayment reasonably may be effected in accordance with the Inden- ~
ture, plus (iii} interest on the Notea to such Note Payment Date (inclnd-
ing intereat to the eatent permitted bp law on any overdne intereat at the
~ reapective rate or rates specified in the Indentnre), minns (iv) the
~ amonnt then in the Debt Service Fund and avAilable at snch time for ~
~ credit agai.nst sneL payment.
~ (d) Properties' Rights of ~ssignment. Properties may, in aF
~ cordanc.e with the Indentnre, assign this Lease and pledge the moneys -
~ receivable herennder to the Trnstee as aecnrity for payment of the
~ intereat coming due and the principal matnring on the Notes and its , ~
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