Liability for Continuing Obligations Clause Samples
The "Liability for Continuing Obligations" clause defines the parties' responsibility for obligations that persist even after the main contract has ended. Typically, this clause clarifies that certain duties—such as confidentiality, indemnification, or payment of outstanding amounts—remain enforceable beyond the contract’s termination or expiration. Its core function is to ensure that essential commitments survive the end of the agreement, thereby protecting the interests of the parties and preventing disputes over ongoing responsibilities.
Liability for Continuing Obligations. As joint venturers, each Venturer has all of the rights, obligations, and liabilities under the TBOC, including joint and several liability for all of the debts, obligations, acts, omissions, risks and liabilities of the Joint Venture. Certain assessments, subject to appropriate Vote, may be made to meet Joint Venture obligations, as herein described. Upon the death, disability or other change in circumstances of a Venturer prior to completion of such Venturer’s obligations to complete certain payments pursuant to this Section, such Venturer’s estate, legal representative or successor shall have the status of the Venturer and of such Venturer’s rights and responsibilities.
Liability for Continuing Obligations. As joint venturers, each Venturer has all of the rights, obligations, and liabilities under the Texas Code, including joint and several liability for all of the debts, obligations, acts, omissions, risks and liabilities of the Joint Venture. Certain assessments, subject to appropriate Vote, may be made to meet Joint Venture obligations, as herein described. Upon the death, disability or other change in circumstances of a Venturer prior to completion of such Venturer's obligations to complete certain payments pursuant to this Section, such Venturer's estate, legal representative or successor shall have the status of the Venturer and of such Venturer's rights and responsibilities.
Liability for Continuing Obligations. Upon the bankruptcy, insolvency, death, disability or other change in circumstances of a Partner prior to completion of such Partner’s obligations to complete certain payments pursuant to this Section, such Partner’s estate, legal representative or successor shall have the status of the Partner and of such Partner’s rights and responsibilities.