Binding Effect; Third-Party Beneficiary Sample Clauses
The "Binding Effect; Third Party Beneficiary" clause establishes that the terms of the agreement are legally enforceable by and against the parties involved, as well as their successors and permitted assigns. In practice, this means that if a party's rights or obligations are transferred to another entity, those rights and obligations remain in force under the contract. Additionally, the clause typically clarifies that no other individuals or entities outside the named parties have any rights or claims under the agreement. Its core function is to ensure that only the intended parties are bound by and can enforce the contract, thereby preventing unintended third parties from asserting rights or obligations.
Binding Effect; Third-Party Beneficiary. This Lease shall be binding upon and shall inure to the benefit of the City and the Developer and their respective successors and assigns. The Lender shall be a third-party beneficiary of any provisions contained herein granting rights to the Lender.
Binding Effect; Third-Party Beneficiary. This Borrower Loan Agreement shall inure to the benefit of and shall be binding upon the Governmental Lender, the Borrower and their respective successors and assigns. The Funding Lender is intended to be a third party beneficiary of this Borrower Loan Agreement.
Binding Effect; Third-Party Beneficiary. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, personal representatives, permitted successors, assigns, and beneficiaries-in-interest. Each member of the ESI Group shall be a third party beneficiary hereunder, and shall be entitled to enforce the provisions of this Agreement conveying any right or remedies to such party.
Binding Effect; Third-Party Beneficiary. (a) The covenants, conditions and agreements herein contained shall bind, and the benefits and advantages shall inure to, the respective administrators, successors and assigns of the parties hereto. Agent acknowledges that Owner's rights hereunder, but not Owner's obligations, are being assigned to Agent and that Agent may exercise all of Owner's rights under this Agreement in accordance with the provisions hereof and of the Assignment. Whenever used, the singular shall include the plural, the plural include the singular and the use of any gender shall include all genders.
Binding Effect; Third-Party Beneficiary. (a) The covenants, conditions and agreements herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors and assigns of the parties hereto. Whenever used, the singular shall include the plural, the plural include the singular and the use of any gender shall include all genders.
(b) Beneficiary shall be a third party beneficiary of this Agreement with respect to those provisions that explicitly or implicitly are for the benefit of Beneficiary.
Binding Effect; Third-Party Beneficiary. This Agreement, upon execution, shall be binding upon the parties, enforceable in accordance with its terms, and shall inure to the benefit of the parties hereto. This Agreement may be assigned only upon written consent of the parties hereto.
Binding Effect; Third-Party Beneficiary. This Agreement shall inure to the benefit of and shall be binding upon the Issuer, the Trustee, the Company and their respective successors and assigns; subject, however, to the limitations contained in Section 5.2 hereof. The Credit Bank is intended to be a third party beneficiary of this Agreement to the extent the provisions hereof are expressly for the benefit of the Credit Bank.
Binding Effect; Third-Party Beneficiary. I understand and acknowledge that my obligations under this Agreement shall survive the termination of my Engagement regardless of the manner of such termination and shall be binding upon my heirs, executors, administrators, legal representatives, and assigns. I also understand and acknowledge that this Agreement shall be binding upon and shall inure to the benefit of the subsidiaries, affiliates, successors, and assigns of the Company, including any person(s) or entity(ies) Person that acquires all or substantially all of the assets of the Company, whether by merger, consolidation, or otherwise. This Agreement does not create, and shall not be interpreted or construed to create, any rights enforceable by any person not a party to this Agreement.
Binding Effect; Third-Party Beneficiary. This Loan Agreement shall inure to the benefit of and shall be binding upon the Authority, the Borrower and their respective successors and assigns; subject, however, to the limitations contained in Section 5.2 hereof. The parties agree that CDLAC is a third party beneficiary of this Loan Agreement for purposes of enforcing the terms and conditions set forth in the Allocation Resolution.
Binding Effect; Third-Party Beneficiary. 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. ICE shall be a third-party beneficiary of this Agreement.