Binding Obligation of Corporation and Any Successor in Interest Sample Clauses

The "Binding Obligation of Corporation and Any Successor in Interest" clause establishes that the corporation, as well as any entity that acquires its interests or assets, is legally required to honor the terms of the agreement. In practice, this means that if the corporation merges with another company, is acquired, or otherwise transfers its rights and obligations, the new entity is automatically bound by the same contractual commitments. This clause ensures continuity and enforceability of the agreement, preventing parties from evading their responsibilities through corporate restructuring or transfer of ownership.
Binding Obligation of Corporation and Any Successor in Interest. Corporation expressly agrees that it shall not merge or consolidate into or with another Corporation or sell substantially all of its assets to another Corporation, firm or person until such Corporation, firm or person expressly agrees, in writing, to assume and discharge the duties and obligations of the Corporation under this Agreement. This Agreement shall be binding on its parties, their successors, beneficiaries, heirs and personal representatives.
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Binding Obligation of Corporation and Any Successor in Interest. This Agreement shall be binding upon the parties hereto, their successors, beneficiaries, heirs and personal representatives.
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Related to Binding Obligation of Corporation and Any Successor in Interest

  • Binding upon Successors This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives, successors and permitted assigns.

  • Binding Upon Successors and Assigns Subject to, and unless otherwise provided in, this Agreement, each and all of the covenants, terms, provisions, and agreements contained herein shall be binding upon, and inure to the benefit of, the permitted successors, executors, heirs, representatives, administrators and assigns of the parties hereto.

  • Binding Agreement; Successors (a) This Agreement will be binding upon and inure to the benefit of the Executive (and his personal representative), the Company and any successor organization or organizations which shall succeed to substantially all of the business and property of the Company, whether by means of merger, consolidation, acquisition of all or substantially of all of the assets of the Company or otherwise, including by operation of law. (b) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. (c) For purposes of this Agreement, the term “Company” includes any subsidiaries of the Company and any corporation or other entity which is the surviving or continuing entity in respect of any merger, consolidation or form of business combination in which the Company ceases to exist; provided, however, that for purposes of determining whether a Change in Control has occurred herein, the term “Company” refers to Union Bankshares Corporation or its successors.

  • Binding Effect; Successors This Agreement shall inure to the benefit of and be binding upon the parties hereto and, to the extent not prohibited herein, their respective heirs, successors, assigns and representatives. Nothing in this Agreement, expressed or implied, is intended to confer on any person other than the parties hereto and as provided above, their respective heirs, successors, assigns and representatives any rights, remedies, obligations or liabilities.

  • BINDING EFFECT; SUCCESSORS & ▇▇▇▇▇▇▇ This Contract shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.