Binding Agreement upon parties Clause Samples

The 'Binding Agreement upon parties' clause establishes that the contract is legally enforceable and obligates all parties to adhere to its terms. In practice, this means that once the agreement is signed, each party is required to fulfill their respective duties and can be held accountable in court if they fail to do so. This clause ensures that the contract is not merely a statement of intent but a formal commitment, providing certainty and legal protection for all involved.
Binding Agreement upon parties. The Corporate Authorities and Owner agree that no party will take action or omit to take action during the term of this Agreement which act or omission as applied to the tracts would be a breach of this Agreement without first procuring a written amendment to this Agreement duly executed by the Owner and the City.
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Binding Agreement upon parties. The Corporate Authorities, Owner, and ▇▇▇▇▇▇▇▇▇ agree that no party will take any action or omit to take action during the term of this Agreement which act or omission as applied to the Tract would be a breach of this Agreement without first procuring a written amendment to this Agreement duly executed by the Owner, Developer (as to Parcel A, so long as the Developer retains an interest in Parcel A), and the City. If any City code, ordinance, or regulation is hereafter adopted, amended, or interpreted so as to be less restrictive on Owner or Developer with respect to the development of Parcel A than is the case under the existing law, then at the option of Owner and Developer such less restrictive amendment or interpretation shall control.
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Related to Binding Agreement upon parties

  • Binding Agreements This Agreement and the other Financing Documents executed and delivered by the Borrowers have been properly executed and delivered and constitute the valid and legally binding obligations of the Borrowers and are fully enforceable against each of the Borrowers in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties, and general principles of equity regardless of whether applied in a proceeding in equity or at law.

  • Binding Agreement This Agreement shall be binding and inure to the benefit of the Parties hereto and their respective heirs, legal successors, and assigns.

  • Power; Binding Agreement Stockholder has the legal capacity, power and authority to enter into and perform all of its obligations under this Agreement. The execution, delivery and performance of this Agreement by Stockholder will not violate any agreement or any court order to which Stockholder is a party or is subject including, without limitation, any voting agreement or voting trust. This Agreement has been duly and validly executed and delivered by Stockholder.

  • Binding Obligation Each Receivable represents the genuine, legal, valid and binding payment obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’ rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity).

  • Binding Obligations The obligations expressed to be assumed by it in each Finance Document are, subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation), legal, valid, binding and enforceable obligations.