Transferee Bound Clause Samples
The "Transferee Bound" clause ensures that any party who receives rights or obligations under a contract (the transferee) is legally required to comply with the same terms and conditions as the original party. In practice, this means that if a contract is assigned or transferred to another entity, the new party must honor all existing commitments, restrictions, and responsibilities set out in the agreement. This clause is essential for maintaining the integrity of the contract, as it prevents parties from circumventing their obligations by transferring them to others who might otherwise not be bound by the original terms.
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Transferee Bound. As of and from the time referred to in Section 3.15(b), the transferee automatically shall become bound by, and be subject to all of the rights and obligations of a Limited Partner under, this Agreement without execution of further instrument. Without limiting the generality of the foregoing, as of and from the time referred to in Section 3.15(b), the transferee shall be deemed to make all of the representations and warranties and covenants of a Limited Partner contained in Section 2.10 and to grant the power of attorney contained in Section 2.13.
Transferee Bound. Landlord hereby agrees that in the event that it intends to sell, assign, lease, convey or otherwise transfer all or any portion of the Development Parcel, such conveyance shall be made subject to and conditioned upon such successor agreeing with Tenant, in form reasonably acceptable to Tenant, to be bound by and recognize Tenant’s rights under this Section 11.1.
Transferee Bound. No Transfer of Shares or of any related Voting Trust Certificates other than Transfers to the Company or to a Stockholder shall be effective unless the person or entity receiving such Shares together with any related Voting Trust Certificates) (the "Transferee"), executes an appropriate document (a "Confirming Document"), substantially in the form attached to this Agreement as Exhibit A, confirming that the Transferee takes those Shares and any related Voting Trust Certificates subject to all the terms and conditions of this Agreement (and, if related Voting Trust Certificates are transferred, the Voting Trust Agreement), without limitation. The Confirming Document must be delivered to and approved by the Company prior to the Transfer of Shares (and any related Voting Trust Certificates) to that Transferee. So long as the Transfer is otherwise made in accordance with the terms of this Agreement, the Company shall not unreasonably withhold its approval of a proposed Confirming Document. Upon approval of the Confirming Document (except for Confirming Documents executed pursuant to Section 2.6 hereof) and assuming completion of the underlying Transfer, the Transferee's signature on the Confirming Document shall constitute an execution of a counterpart of this Agreement, and such Transferee shall become a Stockholder signatory of this Agreement. Additionally, if the Voting Trust Agreement is still in effect and Voting Trust Certificates were so transferred, the Company shall, within ten days of such notification to the Company, deliver to the Trustees a copy of the Confirming Document attesting to the fact that the Transferee has become the Stockholder with respect to such transferred Shares (and the related Voting Trust Certificates) and is so bound by the Voting Trust Agreement.
Transferee Bound. No Stockholder shall effect a Transfer of Restricted Securities unless such Transferee shall agree to be bound by this Agreement, and shall further agree to permit EIS or Bioject, as applicable, to act on their behalf in accordance with the provisions of this Agreement.
Transferee Bound. Any transferee under this Section 9 shall take subject to this Agreement, the LLC Regulations and the Partnership Agreement.
Transferee Bound. 22 3.24 ISSUE TO EXCLUDED PERSONS VOID AB INITIO........................ 23 3.25 HOLDERS OF EXCHANGEABLE L.P. UNITS NOT TO BECOME AN EXCLUDED PERSON.......................................................... 23 3.26
Transferee Bound. 24.4 Assignments and Transfers of Working Interests . . . . . . . . . . 24.4.1 Exceptions to Prior Written Notice . . . . . . . . . . . . . 24.4.2 Effective Date of Assignments . . . . . . . . . . . . . . . 24.4.3 Minimum Transfer of Interest . . . . . . . . . . . . . . . 24.4.4
Transferee Bound. The transferee of a Unit shall agree in writing (in form and substance acceptable to the General Partner) to be bound by the terms of this agreement.
Transferee Bound. No Shareholder shall effect a transfer of Company Securities unless such transferee shall agree to be bound by this Agreement, and shall further agree to permit the transferring shareholder to act on their behalf in accordance with the provisions of this Agreement. Notwithstanding anything contained herein to the contrary, no transferee who receives shares of the Common Stock of the Company pursuant to Section 5(b)(iii)(D) of the Securities Purchase Agreement shall be bound by the provisions of this Agreement.
Transferee Bound. No transfer shall be valid unless and until the transferee agrees in writing to be bound by the terms of this Agreement. No change in ownership of the Property, however accomplished shall operated to diminish Kennecott's rights hereunder.