Parties Bound Clause Clause Samples
A Parties Bound Clause defines which individuals or entities are legally obligated by the terms of the agreement. Typically, this clause specifies that not only the named parties but also their successors, assigns, and sometimes affiliates are subject to the contract’s provisions. By clearly identifying who is bound, the clause ensures that the agreement’s obligations and benefits extend appropriately, preventing disputes over who must comply with or can enforce the contract.
Parties Bound Clause. This Agreement shall be binding upon and inure to the benefit to the parties hereto, their respective heirs, executors, administrators, legal representatives, successors and assigns. The parties hereto expressly agree that in the event a party hereto seeks to or does transfer any and all, or part of its assets to a separate entity, not a party to this agreement, said entity shall be liable under this Agreement as if said transfer had not occurred.