Common use of Contract Binding Clause in Contracts

Contract Binding. This Agreement binds the parties hereto and the successors and assigns of the Contractor, and the Contractor and/or the Contractee be entitled to assign their interest in this Agreement to any other person, corporation, association, or other organization and in the event of such an assignment, the Contractee and/or the Contractor undertakes to execute a new contract with the assignee to carry out more effectively the terms of this Agreement.