SECTION # Fundamental Changes; Business Activities. (a) None of the Borrower or any Restricted Subsidiary will merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in one transaction or in a series of related transactions) all (or substantially all) of its assets, in each case, whether now owned or hereafter acquired, except that, # any Person may merge into the Borrower in a transaction in which the Borrower is the surviving corporation,

Section # Fundamental Changes; Business Activities. (a) NoneChanges. Neither the Borrower nor any of the Borrower or any Restricted Subsidiary will merge into orSubsidiaries shall merge, dissolve, liquidate, consolidate with any otheror into another Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in(whether in one transaction or in a series of related transactions) all (oror substantially all)all of its assets, in each case, whetherassets (whether now owned or hereafter acquired,acquired) to or in favor of any Person, except that, # any Person may merge into the Borrower in a transaction in which the Borrower is the surviving corporation,that:

SECTION # Fundamental Changes; Business Activities. (a) None of theChanges. The Borrower orwill not, and will not permit any Restricted Subsidiary willto, merge into or consolidate with or into any other Person,Person or permit any other Person to merge into or consolidate with or into it, or liquidate or dissolve or during a Covenant Suspension Period,dissolve, and the Borrower will not Dispose of (in(whether in one transaction or in a series of related transactions)transactions and whether directly or indirectly) all (oror substantially all)all of its assets, in each case, whether now owned or hereafter acquired, except that, # any Person may merge intothe assets of the Borrower inand its Restricted Subsidiaries on a transaction in which the Borrower is the surviving corporation,consolidated basis; provided that:

Section # Fundamental Changes; Business Activities.Changes. (a) None of theThe Borrower orwill not, and will not permit any Restricted Subsidiary willto, # merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, # sell, transfer, license, lease, enter into any sale-leaseback transactions with respect to, or liquidate or dissolve or during a Covenant Suspension Period, Disposeotherwise dispose of (in one transaction or in a series of related transactions) all (oror substantially all)all of its assets, inthe assets of the Borrower and the Restricted Subsidiaries, taken as a whole (in each case, whether now owned or hereafter acquired,acquired) or # liquidate or dissolve, except that, # any Person may merge intoif at the Borrower in a transaction in which the Borrower is the surviving corporation,time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing:

SECTION # Fundamental Changes; Business Activities. (a)(f) None of Holdings, the Borrower or any Restrictedother Subsidiary will merge into or consolidate with any other Person,Person or divide, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in one transaction or in a series of related transactions) all (or substantially all) of its assets,(including, in each case, whether now owned or hereafter acquired,pursuant to a Delaware LLC Division), except that, # any Person may merge intoif at the Borrower in a transaction in which the Borrower is the surviving corporation,time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing,

SECTION # Fundamental Changes; Business Activities. (a) None of theChanges. The Borrower orwill not, and will not permit any RestrictedSignificant Subsidiary willto, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidatesell, transfer, lease or dissolve or during a Covenant Suspension Period, Disposeotherwise dispose of (in one transaction or in a series of related transactions) all (oror substantially all)all of the assets of the Borrower and its assets, inSubsidiaries taken as a whole (in each case, whether now owned or hereafter acquired,acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing, # any Subsidiary or other Person may merge into or consolidate with the Borrower in a transaction in which the Borrower is the surviving corporation, # any Subsidiary may merge into or consolidate with any Subsidiary in a transaction in which the surviving entity is a Wholly Owned Subsidiary, # any Subsidiary may sell, transfer, lease or otherwise dispose of its assets to the Borrower or to a Wholly Owned Subsidiary, # any Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders, # any Subsidiary may merge into or consolidate with any other Person if the surviving Person is or becomes by virtue of such transaction a Wholly Owned Subsidiary, and the Borrower determines in good faith that such merger or consolidation is in the best interests of the Borrower and would not materially adversely affect the Lenders, # the Borrower or any Subsidiary may merge into or consolidate with any other Person; provided that the Borrower or such Subsidiary is the surviving corporation and # any Subsidiary may merge with any other Person in a transaction in which the surviving entity is not a Subsidiary; provided that such transaction does not constitute the disposition of all or substantially all assets of the Borrower and its subsidiaries taken as a whole.

Section # Fundamental Changes; Business Activities. (a)Changes. None of the Lead Borrower ornor any of the Restricted Subsidiary will merge into orSubsidiaries shall merge, dissolve, liquidate, consolidate with any otheror into another Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in(whether in one transaction or in a series of related transactions) all (oror substantially all)all of its assets, in each case, whetherassets (whether now owned or hereafter acquired, except that, #acquired) to or in favor of any Person may merge into the Borrower(including, in each case, pursuant to a transaction in which the Borrower is the surviving corporation,Delaware LLC Division), except that:

Fundamental Changes; Business Activities. (a) None of the Borrower or any Restricted Subsidiary will mergeChanges. Merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in(whether in one transaction or in a series of related transactions) all (oror substantially all)all of its assets, in each case, whether now owned or hereafter acquired,the assets of the Borrowers and the Restricted Subsidiaries on a consolidated basis, taken as a whole, to any other Person, except that, # any Person may merge into the Borrower in a transaction in which the Borrower is the surviving corporation,so long as no Default exists or would result therefrom:

SECTION # Fundamental Changes; Business Activities. (a) NoneChanges. The Borrower will not, nor will it permit any of its Subsidiaries (other than any SPE Subsidiaries or Immaterial Subsidiaries) to, liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution). The Borrower will not, nor will it permit any of its Subsidiaries (other than any Financing Subsidiaries or Immaterial Subsidiaries) to, enter into any transaction of merger or consolidation or amalgamation, or acquire any business or property from, or capital stock of, or be a party to any acquisition of, any Person, except for purchases or acquisitions of Portfolio Investments and other assets in the normal course of the day-to-day business activities of the Borrower and its Subsidiaries and not in violation of the terms and conditions of this Agreement or any Restricted Subsidiaryother Loan Document. The Borrower will merge into or consolidate with any other Person, ornot, nor will it permit any other Person to merge intoof its Subsidiaries (other than any Financing Subsidiaries or consolidate with it,Immaterial Subsidiaries) to, convey, sell, lease, transfer or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (inotherwise dispose of, in one transaction or in a series of related transactions) all (or substantially all)transactions, any part of its assets, in each case, whether now owned or hereafter acquired, except that,but excluding # any Person may merge intoassets sold or disposed of in the ordinary course of business (including to make expenditures of cash and dispositions of investments in connection with exits and work-outs in the normal course of the day-to-day business activities of the Borrower and its Subsidiaries) and # subject to the provisions of [clause (d)] below, Portfolio Investments (to the extent not otherwise included in a transaction in which the Borrower is the surviving corporation,[clause (x)] of this Section).

Fundamental Changes . Merge, dissolve, liquidate or consolidate with or into another Person, except that # Fundamental Changes; Business Activities. (a) None ofso long as no Default exists or would result therefrom, # the Borrower may merge or consolidate with any Restricted Subsidiary, provided that the Borrower shall be the continuing or surviving Person, and # any Restricted Subsidiary willmay merge into or consolidate with any other Person,Restricted Subsidiary, provided that if a Guarantor is a party thereto, then either the Guarantor shall be the continuing or permitsurviving Person or the continuing or surviving person shall become a Guarantor upon the consummation of such transaction, # the Borrower or any Subsidiary may merge with any other Person in connection with a Permitted Acquisition or other Investment permitted pursuant to merge into or consolidate with it, or liquidate or dissolve or during a Covenant Suspension Period, Dispose of (in one transaction or in a series of related transactions) all (or substantially all) of its assets, in each case, whether now owned or hereafter acquired, except that, # any Person may merge into the Borrower in a transaction in which[Section 7.02]; provided that if the Borrower is a party thereto, then the Borrower shall be the continuing or surviving corporation,Person and # any Subsidiary may dissolve, liquidate or wind up its affairs at any time provided that such dissolution, liquidation or winding up, as applicable, could not reasonably be expected to have a Material Adverse Effect.