200. Upon the date of publication of the notice provided for in section 199, or, in the case of a company, upon the date of the letters patent but subject to publication of the notice, the corporation that applied for the conversion shall cease to exist; the new corporation, under the corporate name assigned it, shall then enjoy all the rights and assume all the obligations of the corporation that applied for the conversion and suits to which it is a party may be continued by or against it without continuance of suit.