Binding Effect; Third Parties Sample Clauses
The "Binding Effect; Third Parties" clause establishes that the terms of the agreement are legally enforceable and apply to the parties involved, as well as their successors and permitted assigns. In practice, this means that if a party is acquired, merges, or otherwise transfers its rights and obligations under the contract, the new entity is also bound by the agreement. Additionally, the clause typically clarifies that no rights or obligations are conferred upon individuals or entities who are not parties to the contract. This ensures that only the intended parties are held accountable for the contract's terms, preventing unintended third parties from claiming benefits or obligations under the agreement.
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Binding Effect; Third Parties. This Agreement shall be binding upon and, except as provided below, inure solely to the benefit of each Party and its successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to confer upon any other Person (other than the Lessee Indemnified Parties and CCS Indemnified Parties as provided in Article VII) any rights or remedies of any nature whatsoever under or by reason of this Agreement).
Binding Effect; Third Parties i. Following the Closing, the rights and obligations of any party under this Agreement may not be assigned or delegated by any party without the prior written consent of the other party, which shall not be unreasonably withheld. Subject to the preceding sentence, this Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns.
ii. Except as otherwise set forth in this Agreement, nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies arising from this Agreement on any person other than the parties and their respective successors or assigns, nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third party to a party, nor shall any provision of this Agreement give any third party a right of subrogation or action against any party.
Binding Effect; Third Parties. This Agreement is binding on and shall inure to the benefit of the parties to this Agreement and their respective successors and assigns. The parties do not intend to confer any benefits on any person, firm, corporation, or other entity which is not party to this Agreement except that BRA acknowledges that Developer may assign receipt of TIR under this Agreement to its lenders. BRA will cooperate with Developer and/or any lender in executing an acceptable assignment document.
Binding Effect; Third Parties. Each of the provisions of the Contract Documents shall extend to and shall, as the case may require, bind or inure to the benefit not only of the parties, but also for their respective successors, heirs or assigns, provided this clause shall not permit any assignment by any party of the Contract Documents not otherwise permitted. The parties agree that the Contract Documents are not intended by either party to give any benefits, rights, privileges, actions or remedies to any person, partnership, firm or corporation (other than a party or its permitted assignee, or, to the extent applicable, any Affiliates) as a third party beneficiary or otherwise under any theory of law.
Binding Effect; Third Parties. This Agreement shall inure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended to confer on any Person, other than the Parties hereto and their successors and permitted assigns, any rights, obligations, remedies or liabilities.
Binding Effect; Third Parties. This Settlement Agreement shall be binding on and inure to the benefit of each Party and its successors. Other than the Consortium Members with respect to the release set forth in Sections VIII and IX above, there is no third-party beneficiary of this Settlement Agreement.
Binding Effect; Third Parties. The terms and provisions of this Agreement shall be binding upon and shall inure to the benefit of the Parties and their successors and permitted assigns. Except with respect to the rights granted to Sublicensees pursuant to Section 5.3(b), nothing in this Agreement shall be deemed to grant any third party beneficiary or similar rights to any Person not a signatory to this Agreement.
Binding Effect; Third Parties. (a) Each party hereto may rely upon the certifications and representations made by the other party in this Termination and Release.
(b) This Termination and Release shall be binding upon VDOT, ERC and ERC Opco and their respective successors and assigns and, except as specifically provided herein in respect of the Guarantors shall not confer any rights or remedies upon any other third party. No third party other than the Guarantors may rely on any statements of fact or representation or warranty made by VDOT in this Termination and Release, and VDOT retains any claims it may have against such third parties.