Binding Parties Sample Clauses
The Binding Parties clause defines which individuals or entities are legally obligated by the terms of the agreement. It typically specifies that the contract applies not only to the named parties but also to their successors, assigns, or affiliates, ensuring that obligations and rights continue even if the parties change due to mergers, acquisitions, or transfers. This clause is essential for maintaining the enforceability of the contract across changes in ownership or control, thereby preventing parties from evading their responsibilities by transferring their interests.
Binding Parties. This Agreement shall be binding upon the parties hereto, successors, administrators, executors and assigns. In the event the entire operation, or any part thereof is sold, leased, transferred, or taken over by sale, transfer, lease, assignment, receivership or bankruptcy proceedings, operation shall continue to be subject to the terms and conditions of this Agreement for the life thereof. It is understood and agreed the foregoing shall not apply in those cases when the Employer sublets service to an individual customer or customers to another company when it becomes impractical for the Employer to continue service to that customer or customers.
Binding Parties. In this Agreement, a reference to a party includes a reference to that party’s heirs, executors and permitted assigns.
Binding Parties. This Debenture shall bind Maker and its successors and assigns, and the benefits hereof shall inure to the benefit of Lender and
Binding Parties. This Convertible Note shall bind Maker and its successors and assigns, and the benefits hereof shall inure to the benefit of Lender and its successors and assigns. All references herein to "Maker" and "Lender" shall be deemed to apply to Maker and Lender, respectively, and to their respective successors and assigns.