Common use of Successors and Assigns; Binding Agreement Clause in Contracts

Successors and Assigns; Binding Agreement. This Agreement shall inure to the benefit of and shall be binding upon the Company, its successors and assigns. The obligations and duties of Executive hereunder are personal and otherwise not assignable. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company or by any Change in Control. In the event of any such Change in Control, the provisions of this Agreement shall bind and inure to the benefit of the surviving or resulting entity, or the entity to which such assets shall have been transferred, as the case may be; provided, however, that the Company will require any successor to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Executive, to expressly assume and agree to perform under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

Appears in 9 contracts

Samples: Employment Agreement (Saxon Capital Inc), Form of Employment Agreement (Saxon Reit Inc), Employment Agreement (Saxon Capital Inc)

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Successors and Assigns; Binding Agreement. This Agreement shall inure to the benefit of and shall be binding upon the Company, its successors and assigns. The obligations and duties of Executive hereunder are personal and otherwise not assignable. This Agreement shall inure to the benefit of and be enforceable by Executive’s 's legal representatives. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company or by any Change in Control. In the event of any such Change in Control, the provisions of this Agreement shall bind and inure to the benefit of the surviving or resulting entity, or the entity to which such assets shall have been transferred, as the case may be; providedPROVIDED, howeverHOWEVER, that the Company will require any successor to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Executive, to expressly assume and agree to perform under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

Appears in 3 contracts

Samples: Employment Agreement (Saxon Capital Inc), Employment Agreement (Saxon Capital Inc), Form of Employment Agreement (Saxon Capital Inc)

Successors and Assigns; Binding Agreement. This Agreement shall inure to the benefit of and shall be binding upon the Company, its successors and assigns. The obligations and duties of Executive hereunder are personal and otherwise not assignable. This Agreement shall inure to the benefit of and be enforceable by Executive’s 's legal representatives. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company or by any Change in Control. In the event of any such Change in Control, the provisions of this Agreement shall bind and inure to the benefit of the surviving or resulting entity, or the entity to which such assets shall have been transferred, as the case may be; provided, however, that the Company will require any successor to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Executive, to expressly assume and agree to perform under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.

Appears in 2 contracts

Samples: Employment Agreement (Saxon Capital Inc), Employment Agreement (Saxon Capital Inc)

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Successors and Assigns; Binding Agreement. This Agreement shall inure to the benefit of and shall be binding upon the Company, its successors and assigns. The obligations and duties of Executive hereunder are personal and otherwise not assignable. This Agreement shall inure to the benefit of and be enforceable by Executive’s 's legal representatives. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company or by any Change in Control. In the event of any such Change in Control, the provisions of this Agreement shall bind and inure to the benefit of the surviving or resulting entity, or the entity to which such assets shall have been transferred, as the case may be; provided, however, that the Company will require any successor to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Executive, to expressly assume and agree to perform under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 6.2.

Appears in 1 contract

Samples: Employment Agreement

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