Successor or assignee Sample Clauses

A "Successor or assignee" clause defines how the rights and obligations under a contract are transferred to another party if the original party is replaced or assigns their interest. Typically, this clause specifies whether and under what conditions a party may assign the contract to another entity, such as in the event of a merger, acquisition, or sale of business assets. By clarifying the process and limitations for assignment or succession, this clause ensures continuity of contractual obligations and helps prevent disputes over who is responsible for performance if the original party changes.
Successor or assignee. Where the employer is a successor or assignee or transmittee of a business, if an employee was in the employment of the employer's predecessor at the time when they became such successor or assignee or transmittee the employee in respect of the period during which they were in the service of the predecessor shall, for the purpose of this clause, be deemed to be in the service of the employer.
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Successor or assignee. Where Iplex is the successor, assignee or transmittee of a business (transmission), a Team Member who is employed by the predecessor of Iplex at the date of transmission is to be regarded for the purpose of calculating leave entitlements as if all of the service with the predecessor employer was service with Iplex.
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Successor or assignee. 1. This Agreement shall be binding on any successor or assignee of all or a major part of the Employer.
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Successor or assignee. Any successor or assignee of the rights of any Party, whether by voluntary transfer, judicial or foreclosure sale or otherwise, shall be subject to all the provisions and conditions of the Contract and this Restated Agreement to the same extent as though such successor or assignee were the original Party under the Contract and this Restated Agreement, and the execution of a mortgage or trust deed, or judicial or foreclosure sale made thereunder, shall not be deemed voluntary transfer within the meaning of this section. No assignment or transfer of any rights under the Contract and this Restated Agreement shall be effective unless and until the assignee or transferee agrees in writing to assume all of the obligations of the assignor or transferor and to be bound by all of the provisions and conditions of the Contract and this Restated Agreement.
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Successor or assignee. (a) Where the Company is a successor, an assignee or transmittee of a business, if an employee was in the employment of the Company's predecessor at the time when the Company became such successor or assignee or transmittee, the employee in respect of the period during which the employee was in the service of the predecessor shall for the purpose of this clause be deemed to be in the service of the Company.
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Successor or assignee. Any successor or assignee of the rights of any Party, whether by voluntary transfer, judicial or foreclosure sale or otherwise, shall be subject to all the provisions and conditions of this Agreement to the same extent as though such successor or assignee were the original Party under this Amendment, and the execution of a mortgage or trust deed, or judicial or foreclosure sale made thereunder, shall not be deemed voluntary transfer within the meaning of this Section. No assignment or transfer of any rights under this Amendment shall be effective unless and until the assignee or transferee agrees in writing to assume all of the obligations of the assignor or transferor and to be bound by all of the provisions and conditions of this Agreement.
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Successor or assignee. Where the Company is a successor or assignee or transmittee of a business, if the Team Member was in the employment of the Company’s predecessor at the time when the Company became such successor or assignee or transmittee, the Team Member in respect of the period during which the Team Member was in the service of the predecessor shall, for the purposes of this clause, be deemed to be in the service of the Company.
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Successor or assignee. Where Iplex is a successor or assignee or transmittee of business, if an Employee was in the employment of Iplex’s predecessor at the time when they became such successor or assignee or transmittee the Employee in respect of the period during which they were in the service of the predecessor shall, for the purpose of this clause, be deemed to be in the service of Iplex.
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Related to Successor or assignee

  • Successor or Transferee (a) Upon any consolidation or merger of the Issuer in accordance with Section 3.16(a), the Person formed by or surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the Issuer herein. (b) Upon a conveyance or transfer of all the assets and properties of the Issuer pursuant to Section 3.16(b), the Issuer will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Indenture Trustee of such conveyance or transfer.

  • Successors or Assigns Pledgor and Pledgee agree that all of the terms of this Security Agreement shall be binding on their respective successors and assigns, and that the term "Pledgor" and the term "Pledgee" as used herein shall be deemed to include, for all purposes, the respective designees, successors, assigns, heirs, executors and administrators.

  • Transfer or Assignment (i) Counterparty shall have the right to transfer or assign its rights and obligations hereunder with respect to all, but not less than all, of the Options hereunder (such Options, the “Transfer Options”); provided that such transfer or assignment shall be subject to reasonable conditions that Dealer may impose, including but not limited, to the following conditions: (A) With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 9(b) or any obligations under Section 9(n) or 9(s) of this Confirmation; (B) Any Transfer Options shall only be transferred or assigned to a third party that is a United States person (as defined in the Internal Revenue Code of 1986, as amended); (C) Such transfer or assignment shall be effected on terms, including any reasonable undertakings by such third party (including, but not limited to, an undertaking with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery of legal opinions with respect to securities laws and other matters by such third party and Counterparty, as are requested and reasonably satisfactory to Dealer; (D) Dealer will not, as a result of such transfer and assignment, be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; (E) An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment; (F) Without limiting the generality of clause (B), Counterparty shall cause the transferee to make such Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer and assignment; and (G) Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred by Dealer in connection with such transfer or assignment. (ii) Dealer may (A) without Counterparty’s consent, transfer or assign all or any part of its rights or obligations under the Transaction to any affiliate of Dealer (1) that has a long-term issuer rating that is equal to or better than Dealer’s credit rating at the time of such transfer or assignment, or (2) whose obligations hereunder will be guaranteed, pursuant to the terms of a customary guarantee in a form used by Dealer generally for similar transactions, by Dealer, or (B) in consultation with Counterparty, but without Counterparty’s consent, transfer or assign all or any part of its rights or obligations under the Transaction to any other third party with a long-term issuer rating equal to or better than the lesser of (1) the credit rating of Dealer at the time of the transfer and (2) A- by Standard and Poor’s Rating Group, Inc. or its successor (“S&P”), or A3 by ▇▇▇▇▇’▇ Investor Service, Inc. (“Moody’s”) or, if either S&P or Moody’s ceases to rate such debt, at least an equivalent rating or better by a substitute rating agency mutually agreed by Counterparty and Dealer. If at any time at which (A) the Section 16 Percentage exceeds

  • Successor in Interest If the Account Owner dies before the entire interest in the account is distributed, the entire account will be disposed of as follows: • If the Beneficiary is the Account Owner’s spouse, the HSA will become the spouse’s HSA as of the date of death. • If the Beneficiary is not the Account Owner’s spouse, the HSA will cease to be an HSA as of the date of death. If the Beneficiary is the Account Owner’s estate, the fair market value of the account as of the date of death is taxable on the Account Owner’s final return. For other Beneficiaries, the fair market value of the account is taxable to that person in the tax year that includes such date.

  • DELEGATION AND/OR ASSIGNMENT The contractor shall not assign the contract in whole or in part or any payment arising there from without the prior written consent of the State Procurement Official. The contractor may delegate facilitation of contract orders to their “Authorized/Certified Dealers” only. This delegation will in no way relieve the contractor of any contractual obligations set forth in this Contract Award.