Common use of Successor Obligations Clause in Contracts

Successor Obligations. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Company shall require any successor to, assignee, or transferee of, all or substantially all of its business or assets to expressly assume and agree to perform all of the Company’s obligations under this Agreement (such successor, transferee or assignee shall be deemed, for purposes of this Agreement, to be the Company). This Agreement shall be binding upon Executive and shall inure to Executive’s benefit and may be enforceable by the Executive’s legal personal representatives, but Executive may not assign this Agreement without the Company’s prior written consent.

Appears in 4 contracts

Samples: Control/Severance Agreement (Handleman Co /Mi/), Severance Agreement (Handleman Co /Mi/), Agreement (Handleman Co /Mi/)

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Successor Obligations. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Company shall require any successor to, assignee, or transferee of, all or substantially all of its business or assets to expressly assume and agree to perform all of the Company’s 's obligations under this Agreement (such successor, transferee or assignee shall be deemed, for purposes of this Agreement, to be the Company). This Agreement shall be binding upon Executive and shall inure to Executive’s 's benefit and may be enforceable by the Executive’s 's legal personal representatives, but Executive may not assign this Agreement without the Company’s 's prior written consent.

Appears in 3 contracts

Samples: Agreement (Handleman Co /Mi/), Agreement (Handleman Co /Mi/), Agreement (Handleman Co /Mi/)

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