Future Holders Bound Sample Clauses
The "Future Holders Bound" clause ensures that any future owners or holders of a particular asset, right, or interest are automatically subject to the terms and obligations set forth in the original agreement. In practice, this means that if the asset is sold, transferred, or otherwise assigned to another party, the new holder is legally required to comply with the same conditions as the original party. This clause is essential for maintaining continuity and enforceability of contractual obligations, preventing parties from circumventing responsibilities by simply transferring their interests to others.
Future Holders Bound. Any request, consent, demand, authorization, direction, notice, waiver or other action of the holder of any Note shall bind every future holder of the same Note and the holder of every Note issued upon registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the Trustee or the Issuer in pursuance of such action irrespective of whether or not any notation in regard thereto is made upon such Note.