Legal Successor Sample Clauses

Legal Successor. National law usually holds the legal successor bound by an arbitration clause to the same extent that the predecessor was bound, both in cases of universal succession (merger, death) and singular succession (assignment). This transfer takes place regardless of the successor’s knowledge and intention. The main idea behind this view is that the dispute resolution mechanism becomes attached to the claim and cannot be divorced by unilaterally assigning the claim. Contrary to the findings of some courts, the very reason to protect the arbitration agreement deserves attention for recognition of arbitration agreements under Article II(2) as well. It is therefore sufficient that the arbitration agreement had once been concluded in writing; later successions do not need to comply with 149 150 151 152 153 316 Haas, in: Weigand (ed.), Part 3, Art. II para. 52. 317 Italy: Cass., sez. un., V Y.B. Com. Arb. 267, 268 para. 3 (1980); Haas, in: Weigand (ed.), Part 3, Art. II para. 52; an exception applies if the endorsement explicitly references the arbitration agreement (India: Vessel M.V. Baltic Confidence v. State Trading Corp. of India, XXVII Y.B. Com. Arb. 478, 480 paras 3 et seq. (2002); Hausmann, in: Reithmann/Martiny (eds), para. 6694). 318 Hausmann, in: Reithmann/Martiny (eds), para. 6695; Schlosser, in: Stein/Jonas (eds), annex to sect. 1061 para. 60. 319 US: Borsack v. Chalk & Vermilion Fine Arts, Ltd., XXIII Y.B. Com. Arb. 1038, 1042 et seq. paras 13 et seq. (1998) (S.D.N.Y. 1997); Black & Veatch Int’l Co. v. Wartsila NSD North America, Inc., XXV Y.B. Com. Arb. 878, 881 para. 7 (2000) (D. Kan. 1998); Hausmann, in: Reithmann/ Martiny (eds), para. 6685; see also US: Anthony Todd v. Steamship Mutual Underwriting Associa- tion (Bermuda) Ltd., 2011 U.S. Dist. LEXIS 38638, *28 (5th Cir. 2011) = XXXVI Y.B. Com. Arb. 370 para. 64 (2011). Wolff 141 Article II 153–156 New York Convention
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Legal Successor. Upon the death of a moral person who is a member of the pool (the "DECEASED PERSON"), this Agreement shall apply to the heirs of the Deceased Person, or to the person who receives the Pooled Shares based on (i) a direction given by the Deceased Person as to the partition of his estate, (ii) a distribution of the Deceased Person's estate or (iii) a legacy of the Deceased Person. With respect to a legacy, the Deceased Person's heirs must, to the extent permitted, make the transfer of the Pooled Shares to the legatee contingent on such legatee entering into this Agreement. The Parties agree that any testamentary legacy should be drafted in such a way so as to permit the Deceased Person's heirs to make the transfer of the Pooled Shares contingent on the legatee becoming a member of the pool. As of Dec. 31, 2001 including amendments of Dec. 20, 2001 In such a case, the other Parties have the right to terminate the Agreement vis-a-vis the legatee who is joining the pool; this right must be exercised within four weeks from the date of joining the Agreement.
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Legal Successor. The Lessor and the Lessee are obligated to transfer their obligations from this Contract to any contingent legal successor.
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Legal Successor. This Agreement shall be binding on and shall inure to the benefit of the Parties and their legal successors. Each Party shall commit its respective successor to enter into and therefore become a new Party to this Agreement.
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Legal Successor. The First-Ranking Pledge in the Future Pledged Accounts and Future Pledged Investment Claims includes Future Pledged Accounts and Future Pledged Investment Claims of any legal successor (Gesamtrechtsnachfolger) of the Pledgor with any Account Bank.
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Legal Successor. The First-Ranking Pledge in any future Pledged Rights includes any future Pledged Rights acquired by any legal successor (Gesamtrechtsnachfolger) of the Pledgor.
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Legal Successor. All contractual and other legal obligations and rights under the rule of this agreement shall be in effect without limitation to every legal successor of the parties.
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Related to Legal Successor

  • Your Successors This Agreement and all of your rights hereunder shall inure to the benefit of, and be enforceable by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

  • Acceptance by Successor If the Trust Collateral Agent has resigned or has been removed pursuant to this Section 9.10, the Issuer (or the Owner Trustee, on its behalf (acting at the written direction of the Majority Certificateholder)) shall have the sole right to appoint each successor Trust Collateral Agent that meets the qualifications required hereunder. Every temporary or permanent successor Trust Collateral Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Owner Trustee, each Noteholder, each Certificateholder, the Rating Agencies, the Indenture Trustee and the Issuer an instrument in writing accepting such appointment hereunder and the relevant predecessor shall execute, acknowledge and deliver such other documents and instruments as will effectuate the delivery of all Collateral to the successor Trust Collateral Agent, whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessor. Such predecessor shall, nevertheless, on the written request of the Issuer, execute and deliver an instrument transferring to such successor all the estates, properties, rights, powers, duties and obligations of such predecessor hereunder. In the event that any instrument in writing from the Issuer is reasonably required by a successor Trust Collateral Agent to more fully and certainly vest in such successor the estates, properties, rights, powers, duties and obligations vested or intended to be vested hereunder in the Trust Collateral Agent, any and all such written instruments shall, at the request of the temporary or permanent successor Trust Collateral Agent, be forthwith executed, acknowledged and delivered by the Issuer (or the Owner Trustee, on behalf of the Issuer, (acting at the written direction of the Majority Certificateholders)), as the case may be. The designation of any successor Trust Collateral Agent and the instrument or instruments removing any Trust Collateral Agent and appointing a successor hereunder, together with all other instruments provided for herein, shall be maintained with the records relating to the Trust Property and, to the extent required by applicable law, filed or recorded by the successor Trust Collateral Agent in each place where such filing or recording is necessary to effect the transfer of the Trust Property to the successor Trust Collateral Agent or to protect or continue the perfection of the security interests granted hereunder. If no successor Trust Collateral Agent shall have been appointed and accepted the appointment within sixty (60) days after the giving of notice of resignation, the resigning Trust Collateral Agent may petition any court of competent jurisdiction for the appointment of a successor Trust Collateral Agent that meets the qualifications required hereunder.

  • Rights and Duties of Successor Corporation In case of any such consolidation, merger, sale, lease or conveyance and upon any such assumption by the successor corporation, such successor corporation shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and the predecessor corporation, except in the event of a lease, shall be relieved of any further obligation under this Indenture and the Securities. Such successor corporation thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor corporation, instead of the Company, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof. In case of any such consolidation, merger, sale, lease or conveyance, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.

  • Assigns and Successors The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the Company and the rights and obligations of Employee shall move to the benefit of and shall be binding on Employee and his legal representatives or heirs. This agreement constitutes a personal service agreement and Employee’s obligations hereunder may not be transferred or assigned by Employee.

  • Engagement of Successor (a) Successor Asset Representations Reviewer. Following the resignation or removal of the Asset Representations Reviewer under Section 5.1, the Issuer will engage as the successor Asset Representations Reviewer a Person that is an Eligible Asset Representations Reviewer. The successor Asset Representations Reviewer will accept its engagement or appointment by executing and delivering to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement or entering into a new Asset Representations Review Agreement with the Issuer that is on substantially the same terms as this Agreement.

  • Assignability; Successors Debtor’s rights and liabilities under this Security Agreement are not assignable or delegable, in whole or in part, without the prior written consent of Vicis. The provisions of this Security Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties.

  • Rights and Duties of Successor Entity In case of any such consolidation, merger, sale, assignment, transfer, lease or conveyance and upon any such assumption by a successor entity in accordance with Section 9.1, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named herein as the Company. Such successor entity thereupon may cause to be signed, and may issue either in its own name or in the name of NextEra Energy, Inc. any or all of the Certificates evidencing Units issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Purchase Contract Agent; and, upon the order of such successor entity, instead of the Company, and subject to all the terms, conditions and limitations in this Agreement prescribed, the Purchase Contract Agent shall authenticate and execute on behalf of the Holders and deliver any Certificates which previously shall have been signed and delivered by the officers of the Company to the Purchase Contract Agent for authentication and execution, and any Certificate evidencing Units which such successor entity thereafter shall cause to be signed and delivered to the Purchase Contract Agent for that purpose. All the Certificates so issued shall in all respects have the same legal rank and benefit under this Agreement as the Certificates theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Certificates had been issued at the date of the execution hereof. In case of any such consolidation, merger, sale, assignment, transfer, lease or conveyance such change in phraseology and form (but not in substance) may be made in the Certificates evidencing Units thereafter to be issued as may be appropriate.

  • Heirs and Successors This Award Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring all or substantially all of the Company’s assets or business. If any rights of the Participant or benefits distributable to the Participant under this Award Agreement have not been settled or distributed at the time of the Participant’s death, such rights shall be settled for and such benefits shall be distributed to the Designated Beneficiary in accordance with the provisions of this Award Agreement and the Plan. The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form as the Committee may require. The Participant’s designation of beneficiary may be amended or revoked from time to time by the Participant in accordance with any procedures established by the Committee. If a Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any benefits that would have been provided to the Participant shall be provided to the legal representative of the estate of the Participant. If a Participant designates a beneficiary and the Designated Beneficiary survives the Participant but dies before the provision of the Designated Beneficiary’s benefits under this Award Agreement, then any benefits that would have been provided to the Designated Beneficiary shall be provided to the legal representative of the estate of the Designated Beneficiary.

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