Binding on Heirs and Death of Purchaser Sample Clauses

Binding on Heirs and Death of Purchaser. This Purchase Agreement shall inure to the benefit of and be binding upon the parties hereto, the successors and assigns of the Vendor and the heirs, executors, administrators, estate trustees and permitted assigns of the Purchaser. Notwithstanding the generality of the foregoing, should the Purchaser die after the time period prescribed by Section 73(2) of the Condo Act and before the Firm Occupancy Date or the Closing Date (as the case may be), the Purchaser’s estate shall furnish the Vendor with a notarial copy of a Certificate of Appointment of Estate Trustee prior to the Firm Occupancy Date or the Closing Date (as the case may be) and the estate of the deceased Purchaser shall continue to be bound by and perform all obligations of the Purchaser under the Purchase Agreement. Any failure to provide such Certificate of Appointment of Estate Trustee prior to the Firm Occupancy Date or the Closing Date (as the case may be) shall be a default under this Purchase Agreement, entitling the Vendor to terminate the transaction in accordance with the provisions of Section 8.1 of this Schedule and the provisions of Section 8.1 of this Schedule shall otherwise apply to such default. If the Purchaser is more than one person, the Vendor shall have the option of treating the surviving purchaser as the Purchaser under this Purchase Agreement in all respects and in such event the estate of the deceased Purchaser, the Purchaser’s estate and estate trustee hereby releases the Vendor from any claim whatsoever under this Purchase Agreement.
Sample 1
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Related to Binding on Heirs and Death of Purchaser

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

  • Binding on Successors and Assigns The Agreement, as amended by this Amendment No. 1, shall be binding upon and inure to the benefit of the Parties and each other person and entity having any interest therein during their ownership thereof, and their respective successors and assigns.

  • Binding on Successors, Transferees and Assigns; Assignment This Security Agreement shall remain in full force and effect until the Termination Date has occurred, shall be binding upon the Grantors and their successors, transferees and assigns and shall inure to the benefit of and be enforceable by each Secured Party and its successors, transferees and assigns; provided that no Grantor may (unless otherwise permitted under the terms of the Credit Agreement or this Security Agreement) assign any of its obligations hereunder without the prior written consent of all Lenders.

  • Binding Obligation Each Receivable shall constitute the genuine, legal, valid and binding payment obligation in writing of the related Obligor, enforceable by the holder thereof in accordance with its terms, except as enforceability may be subject to or limited by bankruptcy, insolvency, reorganization, moratorium, liquidation or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law.

  • Agreement Binding on Successors This Agreement will be binding upon, and inure to the benefit of, the successors of each of the Parties.

  • Binding Obligations This Agreement and each of the other Transaction Documents to which it is a party constitutes legal, valid and binding obligations of the Servicer, enforceable against the Servicer in accordance with their respective terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) as such enforceability may be limited by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law.

  • Binding Agreement; Successors and Assigns All covenants and agreements in this Agreement by the Issuer shall bind its successors and assigns, whether so expressed or not. All agreements of the Secured Party or the Securities Intermediary in this Agreement shall bind its successors, co-trustees and agents.

  • Binding Upon Successors and Assigns Subject to, and unless otherwise provided in, this Agreement, each and all of the covenants, terms, provisions, and agreements contained herein shall be binding upon, and inure to the benefit of, the permitted successors, executors, heirs, representatives, administrators and assigns of the parties hereto.

  • Binding Nature of Agreement; Successors and Assigns This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and permitted assigns as provided in this Agreement.

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

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