Binding Parties Sample Clauses

The Binding Parties clause defines which individuals or entities are legally obligated by the terms of the agreement. It typically specifies that the contract applies not only to the named parties but also to their successors, assigns, or affiliates, ensuring that obligations and rights continue even if the parties change due to mergers, acquisitions, or transfers. This clause is essential for maintaining the enforceability of the contract across changes in ownership or control, thereby preventing parties from evading their responsibilities by transferring their interests.
Binding Parties. This Agreement shall be binding upon the parties hereto, successors, administrators, executors and assigns. In the event the entire operation, or any part thereof is sold, leased, transferred, or taken over by sale, transfer, lease, assignment, receivership or bankruptcy proceedings, operation shall continue to be subject to the terms and conditions of this Agreement for the life thereof. It is understood and agreed the foregoing shall not apply in those cases when the Employer sublets service to an individual customer or customers to another company when it becomes impractical for the Employer to continue service to that customer or customers.
View SourceView Similar (7)
Binding Parties. In this Agreement, a reference to a party includes a reference to that party’s heirs, executors and permitted assigns.
View Source
Binding Parties. This Debenture shall bind Maker and its successors and assigns, and the benefits hereof shall inure to the benefit of Lender and
View Source
Binding Parties. This Convertible Note shall bind Maker and its successors and assigns, and the benefits hereof shall inure to the benefit of Lender and its successors and assigns. All references herein to "Maker" and "Lender" shall be deemed to apply to Maker and Lender, respectively, and to their respective successors and assigns.
View Source

Related to Binding Parties

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

  • Binding Agreements This Agreement and the other Financing Documents executed and delivered by the Borrowers have been properly executed and delivered and constitute the valid and legally binding obligations of the Borrowers and are fully enforceable against each of the Borrowers in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties, and general principles of equity regardless of whether applied in a proceeding in equity or at law.

  • Binding Obligations The obligations expressed to be assumed by it in each Finance Document are, subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation), legal, valid, binding and enforceable obligations.

  • Binding Nature This Agreement shall be binding upon, and inure to the benefit of, the successors and personal representatives of the respective parties hereto.

  • Binding Obligation Each Receivable represents the genuine, legal, valid and binding payment obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’ rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).