Subsequent Assignees Clause Samples
The "Subsequent Assignees" clause defines how rights and obligations under an agreement are transferred to parties who receive an assignment after the original contract is made. Typically, this clause clarifies whether future assignees are bound by the same terms as the original parties and may specify any conditions or limitations on such assignments, such as requiring notice or consent. Its core function is to ensure continuity and predictability in contractual relationships by making clear how the contract applies to new parties, thereby preventing disputes over enforceability or obligations when assignments occur.
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Subsequent Assignees. This Paragraph 7 shall be fully applicable to all Permitted Assignees, and the provisions of this Paragraph 7 shall be fully applicable to any right or benefit transferred by an Eligible Optionee to any Permitted Assignee as if such Permitted Assignee were an Eligible Participant; provided, however, that no Permitted Assignee shall be deemed an Eligible Optionee for determining the persons who constitute Permitted Assignees under Paragraph 7. Any Permitted Assignee acquiring a right or benefit under this Plan shall execute and deliver to the Committee an Agreement pursuant to which such Permitted Assignee agrees to be bound by all of the terms and provisions of the plan, provided that the failure to execute and deliver such an Agreement shall not be deemed to relieve such Permitted Assignee of the restrictions imposed by the plan. Any attempted Disposition of a right or benefit under this plan in breach of this Paragraph 7, whether voluntary, involuntary, by operation of law or otherwise shall be null and void.
Subsequent Assignees. It knows of no basis for any material additional tax assessment for any fiscal year for which adequate reserves have not been established. It intends to pay all such taxes, assessments and governmental charges when due. To Bluegreen's Knowledge, the Seller has filed, as of the Closing Date all applicable tax returns which it reasonably believes are required to be filed.