Common use of Parties to be bound Clause in Contracts

Parties to be bound. All the provisions hereof shall be binding upon, and shall inure to the benefit of, the parties themselves and their respective heirs, personal representatives, successors and assigns. In addition, the obligation of the Bank shall become the obligation of any other entity which constitutes the transferee of a substantial portion of the assets and/or business of the Bank or any other entity which is a successor to the Bank in a merger of or consolidation of the Bank with or into such other entity.