Future Purchasers Clause Samples
The "Future Purchasers" clause defines the rights and obligations of parties in relation to individuals or entities who may acquire an interest in the subject matter of the agreement at a later date. Typically, this clause ensures that any future buyers or assignees are bound by the same terms and conditions as the original parties, often requiring the seller to notify or obtain consent from the original contracting party before a transfer occurs. Its core practical function is to maintain continuity and enforceability of the agreement, preventing circumvention of contractual obligations through subsequent transfers or sales.
Future Purchasers to the disclosure of any information to any purchaser or potential purchaser of Receivables from the Purchaser.
Future Purchasers. The Company shall not grant to holders of any of its equity securities registration rights superior to those granted to the Holders hereunder unless the Company (i) obtains the prior written consent of the holders of a majority of the Registrable Securities or (ii) grants equal rights to the Holders. The Company shall not grant registration rights with respect to the Common Stock outstanding at the closing of the Preferred Shares.
Future Purchasers. Before selling Mortgage Loans to Purchasers who are not Purchasers as of the closing date of the Loan, Borrower will submit the names of such potential Purchasers and any other information reasonably required by First Union to First Union for approval, in its sole reasonable discretion, and upon receipt of approval of the potential Purchasers by First Union, shall require each such Purchaser to execute a Bailee Agreement prior to the sale of any Mortgage Loan to such potential Purchaser.
Future Purchasers. The Company shall use its best efforts to have each future holder of capital stock of the Company agree to be bound by similar restrictions on transfer as set forth in this Section 1.14.
Future Purchasers. Unless waived by unanimous vote of the Board of Directors, the Company shall require each employee or other purchaser, as a condition to purchasing capital stock of the Company or rights to acquire capital stock of the Company, to execute a market stand-off agreement in the form set forth in subparagraph (a). This covenant shall terminate and be of no further force and effect upon termination of the effectiveness of subparagraph (a). -------------------------------------------------------------------------------- STOCKHOLDERS AGREEMENT - PAGE 11 (INFINITY/ORIX) 76
Future Purchasers. Before selling Mortgage Loans to Purchasers who are not Purchasers as of the closing date of the Loan, Borrower will submit the names of such potential Purchasers and any other information reasonably required by First Union to First Union for approval, in its sole reasonable discretion, and upon receipt of approval of the potential Purchasers by First Union, shall require each such Purchaser to execute a Bailee Agreement prior to the sale of any Mortgage Loan to such potential Purchaser."
12. Section 9.1(a) is hereby deleted in its entirety and replaced with the following:
(a) if Borrower fails to pay any amount due to First Union on its due date under the Note or this Agreement or otherwise be in default under the Note, except that if failure to pay a principal payment when due in accordance with Article V is caused by a Purchaser's failure to purchase a Mortgage Loan (which failure to purchase is not directly or indirectly the fault of Borrower or a result of Borrower's actions), Borrower shall not be in default unless such principal payment is not made within fifteen (15) days from the date on which such principal payment is due.
Future Purchasers. The Trust, the Eligible Lender Trustee and the Indenture Trustee each hereby agree that, in the event of any sale or other transfer of the Access Loans included in the Trust Student Loan Portfolio to any third party, the Trust, the Eligible Lender Trustee or the Indenture Trustee, as the case may be, as seller (i) shall use reasonable efforts to obtain from the purchaser or transferee of the Access Loans included in the Trust Student Loan Portfolio an agreement in form and substance satisfactory to LAI pursuant to which such purchaser or transferee agrees to observe and comply with the obligations of the parties to this Agreement under Sections 3 and 4 hereof and the obligations of the Trust, the Eligible Lender Trustee or the Indenture Trustee, as the case may be, as seller under this clause (i) of Section 5 hereof and (ii) shall obtain from any such purchaser or transferee an agreement to provide LAI with prior notice of any future sale of the Access Loans included in the Trust Student Loan Portfolio, or portion thereof, acquired by such purchaser or transferee and an agreement to comply with the obligations of the Trust under Section 2 and the obligations of the seller under this clause (ii) of Section 5 and under the last sentence of Section 8(b)(i) of this Agreement (provided, however, that if the purchaser or transferee does not