Singular Succession Sample Clauses

Singular Succession. I. Assignment of claim 1 See Baki Kuru, Hukuk Muhakemeleri Usulü V. VI., İstanbul,2001, page 5982; Xxxxx Berber page 100, 221-222 The vast majority of the Turkish legal scholar and case law are of the view that an assignee of a claim is bound by and may rely upon an arbitration agreement which covers that particular claim.2 However, there are different views as to how the binding effect of the arbitration agreement on the assignee should be construed. The Turkish Court of Cassation and most commentators consider that the arbitration agreement governing the assigned claim is included among the “privileges and ancillary rights” which pass on to the assignee along with the assigned claim.3 The alternative view is that a person, who concludes a contract with an arbitration clause, from which assignable claims arise, has not just waived its right of access to courts in relation to its immediate contracting partner.4 Instead, such person, must be deemed as having implicitly waived such right also in relation to any potential assignee (waiver with erga omnes effects). This view is also supported by the argument that any person who concludes a contract that does not prohibit the assignment of claims must be aware that any claim arising from such contract may at any time, without its consent, be assigned to any unspecified third party. The foregoing considerations apply not only to the assignment of claims by way of a contractual disposition, but also mutatis mutandis to the transfer of an individual claim by operation of law (legal succession or subrogation) or as a result of a judicial decision. Therefore, for example, a surety who has paid the creditor and intends to claim an indemnity from the principal debtor, may rely on the arbitration agreement concluded between the principal debtor and the creditor.5 The reason for this is that 2 under Turkish law the surety, up to the amount it has satisfied the creditor’s claims, acquires the creditor’s rights against the principal debtor by operation of law (subrogation).6 A guarantor who makes payment to the creditor in lieu of the principal debtor is entitled to the same treatment as the surety, to the extent that the guarantee is drafted in a similar way to a surety. By contrast, if the guarantor has promised to pay “irrevocably and irrespective of the validity and the legal effects of the secured contract and waiving all rights of objection and defence arising thereof” (“non- accessory” guarantee), there is no trans...
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Related to Singular Succession

  • Singular/Plural All references in this Agreement to the singular shall include the plural where applicable, and all references to gender shall include both genders and the neuter.

  • Singular and Plural; Gender In this Agreement whenever the male pronoun is used, it shall be deemed to include the female pronoun or vice versa and, likewise, whenever the singular is used, it shall be deemed to include the plural, as the context requires.

  • ASSIGNMENT AND SUCCESSION The rights and obligations of Company under this Agreement shall inure to the benefit of and be binding upon its respective successors and assigns, and Executive’s rights and obligations hereunder shall inure to the benefit of and be binding upon his Designated Successors. Executive may not assign any obligations or responsibilities he has under this Agreement.

  • Singular and Plural Wherever a singular expression is used in this Agreement, that expression is considered as including the plural or the body corporate where required by the context.

  • Singular and Plural, etc Where the context so requires, words importing the singular number include the plural and vice versa, and words importing gender shall include the masculine, feminine and neuter genders.

  • Plural or Feminine Terms May Apply Whenever the singular or masculine is used in this Agreement, it shall be considered as if the plural or feminine has been used where the context of the party or parties hereto so requires.

  • Feminine/Masculine Pronouns Wherever the feminine pronoun is used in this Agreement, it includes the masculine pronoun and vice versa where the context so requires.

  • Pronouns and Plurals Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa.

  • Masculine or Feminine Gender Unless otherwise specifically stated, any provision in this Agreement which is expressed in terms of the masculine shall, in its application to a female employee, be read with the necessary changes to express the feminine, and vice versa.

  • GENDER AND PLURAL 31.01 Whenever the context so requires, the use of words herein in the singular shall be construed to include the plural, and words in the plural, the singular, and words whether in the masculine, feminine or neuter gender shall be construed to include all of said genders. By the use of either the masculine or feminine genders it is understood that said use is for convenience purposes only and is not to be interpreted to be discriminatory by reason of sex.

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