Merger Without Assumption

14:03 Jul 28, 2008 

...amalgamation, merger, transfer, reorganisation, reincorporation or reconstitution:-

(l) the resulting, surviving or transferee entity fails to assume all the obligations of such party or such Credit Support Provider under this Agreement or any Credit Support Document to which it
or its predecessor was a party; or
(2) the benefits of any Credit Support Document fail to extend (without the consent of the other party) to the performance by such resulting, surviving or transferee entity of its obligation under this Agreement.