Reliance by Affiliate Sample Clauses
The 'Reliance by Affiliate' clause establishes that affiliates of a contracting party are permitted to rely on the representations, warranties, or covenants made in the agreement. In practice, this means that if a parent company enters into a contract, its subsidiaries or related entities can also enforce or benefit from the promises made, even if they are not direct signatories. This clause is essential for extending contractual protections and obligations to a broader group within a corporate family, ensuring that affiliates are not left unprotected or unable to seek remedies under the agreement.
Reliance by Affiliate. ▇▇▇▇▇ understands and acknowledges that Affiliate is entering into this Agreement in reliance upon the execution and delivery of the Merger Agreement by ▇▇▇▇▇.
Reliance by Affiliate. Holly understands and acknowledges that Affiliate is entering into this Agreement in reliance upon the execution and delivery of the Merger Agreement by Holly.
Reliance by Affiliate. TODCO understands and acknowledges that (i) Affiliate is entering into this Agreement in reliance upon the execution and delivery of the Merger Agreement by TODCO and (ii) that the closing of the Merger would be of material benefit to Affiliate.
Reliance by Affiliate. Grey Wolf understands and acknowledges that (i) Affiliate is entering into this Agreement in reliance upon the execution and delivery of the Merger Agreement by Grey Wolf and (ii) that the closing of the transactions contemplated by the Merger Agreement would be of material benefit to Affiliate.
Reliance by Affiliate. Hercules understands and acknowledges that (i) Affiliate is entering into this Agreement in reliance upon the execution and delivery of the Merger Agreement by Hercules and (ii) that the closing of the Merger would be of material benefit to Affiliate.