Binding Effect of Option Agreement Sample Clauses

Binding Effect of Option Agreement. The undersigned each represents and warrants that he/she has the authority to bind the Party for which he/she signs this Option Agreement to all of its terms. The Parties intend that this Option Agreement create a valid right in favor of Grantee to lease the Property on the terms and conditions set forth in the attached Ground Lease Term Sheet attached hereto as Exhibit C. Therefore, upon recording a memorandum of this Option Agreement in the real property records of the Town of Portland, Connecticut, the exclusive right and option granted to Grantee in Section 1 shall be deemed an encumbrance upon the Property that shall run with the land and shall be binding upon the Property, Owner, and its successors and assigns, and shall inure to the benefit of each of the Parties hereto and their respective successors and assigns. The Owner covenants and agrees that during the Option Period, any conveyance, sale, or transfer of the Property or any interest therein, and any lien or encumbrance attached to the Property, shall be subject to Grantee’s rights under this Option Agreement.
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Related to Binding Effect of Option Agreement

  • Binding Effect of Agreement This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, assigns and legal representatives.

  • Binding Effect; Assignment This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, successors and permitted assigns. This Agreement shall not be assigned by either party without the prior written consent of the other party hereto.

  • BINDING EFFECTIVE AGREEMENT This Agreement shall be binding upon the parties hereto, their successors and assigns.

  • Binding Effect of this Agreement By receiving and accepting a Note, each Holder, Financial Intermediary and Beneficial Owner of such Note unconditionally agrees, without any signature or further manifestation of assent, to be bound by the terms and conditions of this Agreement, as supplemented, modified or amended pursuant to its terms. This Agreement shall be binding upon and inure to the benefit of any successor to Xxxxxxx Mac.

  • Binding Effect This Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns.

  • Binding Effect and Assignment This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, but, except as otherwise specifically provided herein, neither this Agreement nor any of the rights, interests or obligations of the parties hereto may be assigned by either of the parties without prior written consent of the other.

  • Binding Nature of Agreement This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

  • Binding Effect of Resolutions Every resolution and every Extraordinary Resolution passed in accordance with the provisions of this Article 7 at a meeting of Registered Warrantholders shall be binding upon all the Warrantholders, whether present at or absent from such meeting, and every instrument in writing signed by Registered Warrantholders in accordance with Section 7.14 shall be binding upon all the Warrantholders, whether signatories thereto or not, and each and every Warrantholder and the Warrant Agent (subject to the provisions for indemnity herein contained) shall be bound to give effect accordingly to every such resolution and instrument in writing.

  • Binding Effect; No Assignment This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. This Agreement is not assignable by any party hereto without the prior written consent of the other parties hereto except by operation of law and any other purported assignment shall be null and void.

  • Binding Provisions This Agreement is binding upon, and inures to the benefit of, the parties hereto and their respective heirs, executors, administrators, personal and legal representatives, successors, and permitted assigns.

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