RELIANCE AND BINDING NATURE Sample Clauses

RELIANCE AND BINDING NATURE. Lessee acknowledges that Lessor has and will rely upon the representations, covenants, warranties and agreements herein set forth in entering into this Lease and leasing the Leased Premises to Lessee. The representations, covenants, warranties and agreements herein contained shall be binding upon Lessee, its successors, assigns and legal representatives and shall inure to the benefit of Lessor, its successors, assigns and legal representatives. EXECUTED to be effective for all purposes as of the date first above written. LESSOR: Lessor's Address for notice: INDEPENDENT RESEARCH AGENCY FOR LIFE INSURANCE, INC. Independent Research Agency for Life Insurance, Inc. P. O. Box 2387 By: /s/ Xxxxxx X. Xxxxxx Xxxx Xxxxx, Xxxxx 00000 ------------------------------------ Attn: Chief Financial Officer Name: XXXXXX X. XXXXXX ---------------------------- Title: CHIEF FINANCIAL OFFICER ---------------------------- LESSEE:
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RELIANCE AND BINDING NATURE. Trustor acknowledges that Beneficiary has and will rely upon the representations, covenants, warranties and agreements set forth in closing and funding the loan evidenced by the Note and that the execution and delivery of this Deed of Trust is an essential condition but for which Beneficiary would not close or fund the Note. The representations, covenants, warranties and agreements herein contained shall be binding upon Trustor, its successors, assigns and legal representatives and shall inure to the benefit of Beneficiary, its successors, assigns and legal representatives.
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RELIANCE AND BINDING NATURE. Indemnitor(s) acknowledge(s) that Lender has --------------------------- and will rely upon the representations, covenants, warranties and agreements set forth in closing and funding the Loan and that the execution and delivery of this Certificate is an essential condition but for which Lender would not close or fund the Loan. The representations, warranties and covenants contained in this Certificate shall survive any acquisition by Lender of title to the Property by foreclosure or deed in lieu of foreclosure and shall continue for as long as Lender or any other Indemnitee may be subject to any claim for which it is entitled to be indemnified pursuant to paragraph 4 hereof. The representations, covenants, warranties and agreements herein contained shall be binding upon Indemnitor(s), its/their successors, assigns and legal representatives and shall inure to the benefit of Lender, its successors, assigns and legal representatives.
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RELIANCE AND BINDING NATURE. Trustor acknowledges that Beneficiary has and will rely upon the representations, covenants, warranties and agreements set forth in closing and funding the loan evidenced by the Note and that the execution and delivery of this Deed of Trust is an essential condition but for which Beneficiary would not close or fund the Note. The representations, covenants, warranties and agreements herein contained shall be binding upon Trustor, its successors, assigns and legal representatives and shall inure to the benefit of Beneficiary, its successors, assigns and legal representatives. ARTICLE V NEGATIVE COVENANTS Trustor hereby covenants and agrees with Beneficiary that, until the entire Indebtedness shall have been paid in full and all of the Obligations which are then subject to performance and discharge shall have been fully performed and discharged: 5.1
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RELIANCE AND BINDING NATURE. Borrower acknowledges that Lender has and will rely upon the representations, covenants, warranties and agreements set forth in closing and funding the Loan and that the execution and delivery of this Certificate is an essential condition but for which Lender would not close or fund the Loan. The representations, covenants, warranties and agreements herein contained shall be binding upon Borrower, its successors, assigns and legal representatives and shall inure to the benefit of Lender, its successors, assigns and legal representatives. Dated and Effective as of this ____ day of __________, 1998. PREFERRED EQUITIES CORPORATION, a Nevada corporation By: _______________________________ Name: _________________________ Title: ________________________ "Borrower" EXHIBIT A LEGAL DESCRIPTION 64 EXHIBIT B DISCLOSURE SCHEDULE HARTSEL SPRINGS SIDE LETTER February 18, 1998 Preferred Equities Corporation 4310 Xxxxxxxx Xxxx Xxx Xxxxx, Xxxxxx 00000-0000 Re: FINOVA Mortgage Loan Facility Gentlemen: Reference is made to that certain Second Amended and Restated and Consolidated Loan and Security Agreement dated May 15, 1997 between FINOVA Capital Corporation, a Delaware corporation ("Lender") and Preferred Equities Corporation, a Nevada corporation ("Borrower") (the "Loan Agreement"). Unless otherwise defined herein, all capitalized terms used herein shall have the same meaning as set forth in the Loan Agreement. This Side Letter is being executed in connection with an Advance by Lender of no more than Four Million Dollars ($4,000,000) of the Mortgage Loan Facility in order to finance the purchase by Borrower of One Thousand Five Hundred Fifty-Two (1,552) platted lots located in Park County, Colorado and commonly known as Hartsel Springs Ranch (the "Hartsel Springs Lots"). This Side Letter Agreement will confirm certain agreements between the Borrower and the Lender concerning the Hartsel Springs Lots and the advance of the Mortgage Loan Facility made in connection therewith and shall constitute an amendment to the Loan Agreement and Documents.
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Related to RELIANCE AND BINDING NATURE

  • Assignability; Binding Nature This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, heirs and assigns; provided, however, that no rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive, other than rights to compensation and benefits hereunder, which may be transferred only by will or operation of law and subject to the limitations of this Agreement; and provided, further, that no rights or obligations of the Company under this Agreement may be assigned or transferred by the Company, except that such rights or obligations may be assigned or transferred pursuant to a merger or consolidation in which the Company is not the continuing entity, or the sale or liquidation of all or substantially all of the assets of the Company, provided that the assignee or transferee is the successor to all or substantially all of the assets of the Company and such assignee or transferee assumes the liabilities, obligations and duties of the Company under this Agreement, either contractually or as a matter of law.

  • Final and Binding The determination of the expert will, except for fraud or manifest error, be final and binding upon the parties.

  • Execution and Binding Effect This Agreement has been duly and validly executed and delivered by Buyer and constitutes, and the other agreements and instruments to be executed and delivered by Buyer pursuant hereto, upon their execution and delivery by Buyer, will constitute (assuming, in each case, the due and valid authorization, execution and delivery thereof by Seller), legal, valid and binding agreements of Buyer, enforceable against Buyer in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium, or other laws affecting the enforcement of creditors’ rights generally or provisions limiting competition, and by equitable principles.

  • Binding Nature This Agreement shall be binding upon, and inure to the benefit of, the successors and personal representatives of the respective parties hereto.

  • Authority; Binding Nature of Agreements (a) The Seller has the absolute and unrestricted right, power and authority to enter into and to perform its obligations under each of the Transactional Agreements to which it is or may become a party.

  • Authority; Binding Nature of Agreement (a) The Parent and each of its Subsidiaries (including the Merger Subs) have all necessary corporate power and authority to enter into and to perform its obligations under this Agreement and, subject, with respect to Parent, to receipt of the Required Parent Stockholder Vote and, with respect to Merger Subs, the adoption of this Agreement by Parent in its capacity as sole stockholder of Merger Subs, to perform its obligations hereunder and to consummate the Contemplated Transactions. The Parent Board (at meetings duly called and held) has: (i) determined that the Contemplated Transactions are fair to, advisable and in the best interests of Parent and its stockholders; (ii) authorized, approved and declared advisable this Agreement and the Contemplated Transactions, including the issuance of Parent Common Stock Payment Shares and Parent Preferred Stock Payment Shares to the stockholders of the Company pursuant to the terms of this Agreement and the treatment of the Company Options pursuant to this Agreement; and (iii) determined to recommend, upon the terms and subject to the conditions set forth in this Agreement, that the stockholders of Parent vote to approve the Parent Stockholder Matters. The First Merger Sub Board (by unanimous written consent) has: (A) determined that the Contemplated Transactions are fair to, advisable, and in the best interests of First Merger Sub and its sole stockholder; (B) authorized, approved and declared advisable this Agreement and the Contemplated Transactions; and (C) determined to recommend, upon the terms and subject to the conditions set forth in this Agreement, that the stockholder of First Merger Sub vote to adopt this Agreement and thereby approve the Contemplated Transactions. The Second Merger Sub Board (by unanimous written consent) has: (A) determined that the Contemplated Transactions are fair to, advisable, and in the best interests of Second Merger Sub and its sole member; (B) authorized, approved and declared advisable this Agreement and the Contemplated Transactions; and (C) determined to recommend, upon the terms and subject to the conditions set forth in this Agreement, that the member of Second Merger Sub vote to adopt this Agreement and thereby approve the Contemplated Transactions.

  • Valid and Binding Such Contract is the legal, valid and binding obligation of the Obligor thereunder and is enforceable in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally; all parties to such Contract had full legal capacity to execute and deliver such Contract and all other documents related thereto and to grant the security interest purported to be granted thereby; and the terms of such Contract have not been waived or modified in any respect, except by instruments that are part of the Contract Documents.

  • Successors and Binding Agreement (a) The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company, by agreement in form and substance satisfactory to Indemnitee and his or her counsel, expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had taken place. This Agreement shall be binding upon and inure to the benefit of the Company and any successor to the Company, including without limitation any person acquiring directly or indirectly all or substantially all of the business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed the “Company” for purposes of this Agreement), but shall not otherwise be assignable or delegatable by the Company.

  • Valid and Binding Agreement This Agreement has been duly executed and delivered by Buyer and constitutes, and each other agreement, instrument, or document executed or to be executed by Buyer in connection with the transactions contemplated hereby to which it is a party has been, or when executed will be, duly executed and delivered by Buyer and constitutes, or when executed and delivered will constitute, a valid and legally binding obligation of Buyer, enforceable against it in accordance with their respective terms, except that such enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium, and similar laws affecting creditors' rights generally and (b) equitable principles which may limit the availability of certain equitable remedies (such as specific performance) in certain instances.

  • Assignability and Binding Effect This Agreement shall inure to the benefit of and shall be binding upon the heirs, executors, administrators, successors and legal representatives of the Executive, and shall inure to the benefit of and be binding upon the Corporation and its successors and assigns. The Executive may not assign, transfer, pledge, encumber, hypothecate or otherwise dispose of this Agreement, or any of his rights or obligations hereunder, and any such attempted delegation or disposition shall be null and void and without effect.

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