For people following this thread:

If we include the second line of company name in the formatted address block (adding an additional line of formatted address to the spec designer), then does this remove the need for a field that concatenates together "Company name 1"+"Company name 2"?

(Here we are only talking about statement printing in Adagio Receivables, but the same rule would be propagated to Invoices and ultimately to OrderEntry and Time&Billing.)