Predecessors-in-Interest Clause Samples
The Predecessors-in-Interest clause defines the rights and obligations that are inherited from previous parties who held an interest in a contract, property, or legal relationship. In practice, this clause ensures that any benefits, liabilities, or claims associated with earlier holders—such as former owners of intellectual property or prior parties to an agreement—are recognized and may be enforced by or against the current party. Its core function is to maintain continuity and legal clarity by acknowledging the historical chain of interests, thereby preventing disputes over rights or responsibilities that originated before the current party's involvement.
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Predecessors-in-Interest. Unless the context otherwise requires, (i) references in such specified agreement to any “predecessor-in-interest” or “predecessors-in- interest” (or any similar term) of the Transferor or of the Failed Bank shall be deemed to include each of the Prior Transferor and the Prior Failed Bank, and (ii) as used in relation to the Assets existing as of the Cut-Off Date (or the Closing Date) being transferred to the Company (and Obligations being assumed by the Company) and determinations with respect to Closing Date Asset Litigation (including obligations for transfer thereof), references in the Transfer Agreement and other applicable Transaction Documents (including relevant definitions in the Agreement of Common Terms and Definitions) to rights, obligations and liabilities of, and Actions by, against or involving, the Receiver or the Failed Bank will, except as otherwise determined by the Transferor (at any time) to not be applicable, be deemed to include (A) such rights, obligations or liabilities as successor or assignee of the Prior Receiver or Prior Failed Bank, as applicable, and
Predecessors-in-Interest. During the three years ended on the date hereof, neither the Company nor any of its predecessors-in-interest has conducted any business or sold any goods under any name (including any fictitious business or trade name) other than its legal name which is correctly set forth at the beginning of this Security Agreement.
Predecessors-in-Interest. For the avoidance of doubt, in determining amounts payable or distributable to any Member under this Agreement, each Member shall be treated as having made all contributions made, and received all distributions received, by its predecessors in interest as a Member.
Predecessors-in-Interest. DCA, Ltd. and DAI, Ltd. are recently formed entities which were formed since the Balance Sheet Date to acquire and have acquired 100% of the business and assets of DCA and DAI, respectively. All representations and warranties concerning the financial statements, Business, Assets and Assumed Obligations of DCA, Ltd. and DAI, Ltd. contained herein shall be understood to relate to the financial statements, Business, Assets and Assumed Obligations of DCA and DAI, respectively, as if DCA, Ltd. and DAI, Ltd. had owned and operated such Business, Assets and Assumed Obligations from the date of formation of DCA and DAI, respectively.
Predecessors-in-Interest. For purposes of this Agreement, the references to QSI and to the QSI Subsidiaries shall include and apply to any predecessors in interest of QSI or any QSI Subsidiary.