Common use of Continuity of Obligations Clause in Contracts

Continuity of Obligations. Any obligation and joint and several liability of Party A hereunder is continuous and is fully binding upon its successor, receiver, assignee, or the entity after its consolidation, re-structuring or change in name, without being affected by any dispute, claims and legal proceedings or any order of the superior entity or any contract and documents signed by and between the Borrower under the Master Contract and any natural person or legal person or being changed due to the bankruptcy, insolvency of the Borrower under the Master Contract, or its losing the enterprise qualification, changing the articles of association or having any change in nature.