Succession and Transfer Clause Samples
The Succession and Transfer clause defines how rights and obligations under an agreement are handled in the event of a party’s death, merger, or assignment. Typically, it outlines whether contractual duties and benefits automatically pass to heirs, successors, or permitted assignees, and may set conditions or restrictions on such transfers. This clause ensures continuity and clarity regarding who is responsible for or entitled to the contract’s terms if the original party can no longer fulfill their role, thereby preventing disputes and uncertainty in cases of organizational or personal change.
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Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Recipient and their permitted successors, assigns and legal representatives.
Succession and Transfer. Each and all of the provisions of this Award Agreement are binding upon and inure to the benefit of the Company and the Grantee and their respective estate, successors and assigns, subject to any limitations on transferability under applicable law or as set forth in the Plan or herein.
Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successors, assigns and legal representatives; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee, only by the Optionee or by his or her guardian or legal representative.
Succession and Transfer. The provisions of this Agreement shall be binding upon and run to the benefit of the Company and Participant and their respective heirs, personal representatives, successors, and assigns. However, neither this Agreement nor any other right under the Plan may be assigned, pledged, hypothecated, given or otherwise transferred by Participant, except as permitted by the Plan.
Succession and Transfer. If the Cooperator transfers his or her interest in the enrolled property to a non-Federal entity, the Service will regard the new owner as having the same rights and responsibilities with respect to the enrolled property as the Cooperator, if the new property owner agrees and commits in writing to become a party to this Agreement and subject to the permit referenced in section 9 hereof through a Certificate of Inclusion.
Succession and Transfer. Each and all of the provisions of this Stock Option Agreement are binding upon and inure to the benefit of the Company and the Optionee and their respective estate, successors and assigns, subject to any limitations on transferability under applicable law or as set forth in the Plan.
Succession and Transfer. As provided in 50 CFR Section 13.25, if a Cooperator transfers his or her interest in the enrolled lands to another non-federal entity, the new owner has the option to accept the original Cooperators responsibilities and assurances. If the new owner chooses to accept the original Cooperator’s responsibilities and assurances, the Service will regard the new owner or manager as having the same rights and responsibilities with respect to the enrolled lands as the original Cooperator for the remainder of the term of the Landowner Agreement. If the new owner chooses not to participate in the SHA/CCAA Agreement and the activities described in the Landowner Agreement, he or she will retain authorization for incidental take due to otherwise lawful activities via the Biological Opinion, provided the Service is given an opportunity to relocate covered species currently on the property.
Succession and Transfer. As provided in 50 CFR 13.25, if a Cooperator transfers his or her interest in the enrolled lands to another non-federal entity, the new owner has the option to accept the original Cooperator’s responsibilities and assurances. If the new owner chooses to accept the original Cooperator’s responsibilities and assurances, the Service will regard the new owner or manager as having the same rights and responsibilities with respect to the enrolled lands as the original Cooperator for the remainder of the term of the Agreement. If the new owner chooses not to participate in the Agreement and the activities described in the property’s Reintroduction Plan, he or she will retain authorization for incidental take due to otherwise lawful activities via the Biological Opinion as a non-participating landowner, provided the Service is given an opportunity to trap ferrets currently on the property.
Succession and Transfer. As provided in Part 11 of the Service’s Safe Harbor Policy (64 FR 32717), if the District transfers their interest in the Enrolled Property to another non-Federal entity, the Service will regard the new owner or manager as having the same rights and responsibilities with respect to the Enrolled Property as the District, if the new owner or manager agrees to become a party to the Agreement in place of the District.
Succession and Transfer. Each and all of the provisions of this Agreement, including Paragraph 14, are binding upon and inure to the benefit of the Company and the Grantee and their respective estate, successors and assigns, subject to any limitations on transferability under applicable law or as set forth in the Plan or herein.