Transferee to be Bound. Where any assignment, transfer or mortgage is made under clauses 16.1, 16.2 or 16.7 the transferee must execute a deed binding it to the provisions of this Agreement (which will, if necessary, be amended to reflect the fact that there are more than two parties to it) and any assignment or transfer will be effective only when the transferor has procured from the transferee the execution and delivery to such transferor and the other Parties to this Agreement at that time a sufficient number of original counterparts of the document effecting such assignment or transfer (which document must contain the covenants required by this clause 16.6 and clause 16.7) (to the intent that one such original counterpart must be delivered to each Party requesting the same).
Appears in 2 contracts
Sources: Mark Creasy Nullagine Marble Bar Farm in and Joint Venture Agreement for Mining Tenements, Joint Venture Agreement