Confirmatory Recording Sample Clauses
A Confirmatory Recording clause authorizes one or both parties to formally record a document or memorandum that confirms the existence and key terms of an agreement, typically in a public registry or official records. This clause often applies to transactions involving real estate, intellectual property, or other assets where public notice of the agreement is important; for example, a landlord and tenant might record a memorandum of lease to establish priority over third parties. Its core function is to provide legal notice and evidence of the agreement to third parties, thereby protecting the parties' interests and preventing disputes over the existence or terms of the contract.
Confirmatory Recording. On the Effective Date, Supernus shall execute a confirmatory license in the form attached hereto as Exhibit A solely for recordation as Shire may deem necessary or desirable. It shall not be a violation or breach of any agreement to which Supernus and Shire are parties, to record such confirmatory license. Such confirmatory license shall not amend, modify, cancel, or supersede the terms of this Agreement. In the event of any inconsistencies between this Agreement and such confirmatory license, this Agreement shall prevail.