MODIFICATION AND SUCCESSORS Clause Samples
The "Modification and Successors" clause defines how changes to the agreement can be made and clarifies the binding effect of the contract on future parties. Typically, this clause requires that any amendments or modifications to the contract be made in writing and agreed upon by all original parties, ensuring that no informal or unilateral changes are valid. It also states that the rights and obligations under the agreement extend to successors and permitted assigns, such as if a party is acquired or merges with another entity. This clause ensures that the contract remains enforceable and consistent over time, preventing unauthorized changes and clarifying who is bound by its terms in the event of organizational changes.
MODIFICATION AND SUCCESSORS. This Agreement may not be modified orally or in any manner other than by an agreement, in writing, signed by the parties hereto and their respective successors in interest. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their successors and assigns.