What is successors and/or assigns?

A successors and assigns clause, sometimes also referred to as a binding effects clause, states the contracting parties' intention that their respective successors and assigns be entitled to the benefits of, and subject to the obligations created by, the contract.

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Negotiating and Drafting Successors and Assigns Provisions

Clark Nevada Negotiating and Drafting Successors and Assigns Provisions

Name: Clark Nevada Negotiating and Drafting Successors and Assigns Provisions
Brand: US Legal Forms
Rating: 4.79 (259 reviews)

Category:

Contracts - Clauses

State:

Multi-State

County:

Clark

Control #:

US-ND0404

Format:

Instant download

Description

This form provides boilerplate contract clauses that outline the permissibility and obligations of any successors or assigns of parties to the contract. Several different language options representing various levels of restriction are included to suit individual needs and circumstances.

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FAQ

Heirs are recipients of an inheritance from a deceased owner, whereas assigns are successors in interest to a property. The words heirs and assigns are customarily inserted in deeds and wills, and are considered to be words of limitation, not words of purchase.

This Amendment shall be binding upon, inure to the benefit of, and be enforceable by, the respective successors and assigns of each of the Fund and the Tender and Paying Agent. The assignment or otherwise transfer of any party's rights under this Amendment shall be governed by Section7.

OK, here goes: inure (meaning to take effect; to come into use) is lame. You might know inure from successors and assigns provisions: This agreement is binding upon, and inures the benefit of, the parties and their respective permitted successors and assigns.

Successors and Assigns means a corporation or other entity acquiring all or substantially all the assets and business of the Company whether by operation of law or otherwise, and any affiliate of such Successors and Assigns.

A successor agreement is a contract between an employer and their business owner that ensures the company will be successful when ownership changes hands.

Successor means an entity that has replaced a predecessor by acquiring the assets and carrying out the affairs of the predecessor under a new name (often through acquisition or merger).

A successors and assigns clause, sometimes also referred to as a binding effects clause, states the contracting parties' intention that their respective successors and assigns be entitled to the benefits of, and subject to the obligations created by, the contract.

A permitted assign for a person that is an employee, executive officer, director or consultant of an issuer or of a related entity of the issuer, are any of the following: A trustee, custodian, or administrator acting on behalf of, or for the benefit of the person. A holding entity of the person.

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To the Midstream Company in the event of the producer's bankruptcy? Successors and Assigns.This Agreement binds and benefits the parties and their respective permitted successors and assigns. Infrastructure in Clark County, Nevada (the "County"). C. The Nevada legislature provided for the public financing of a stadium and related. Drafting offers and filling out forms; e. Negotiations for purchase or sale; f. Provision, 56 ADvOc. "perpetual" when a habendum clause granting to the "assignee, his heirs, successors or assigns" is included in the conveyance.

The term “successor‥ or …assign?‥ shall be construed generally to mean a party to the agreement —upon whom the property—is vested, ․ but shall not mean, for example, any person or persons entitled ‛to‥ a right of first refusal‥ upon execution of any instrument by any person as agent‥ in relation to the property‥ of a party to the original agreement‥ to the extent that such right of first refusal has never been extinguished. A “successor‥ shall mean was much as that person ‐ was in that ‥event‥”. If the successor‥, at any time after the execution of the original agreement‥, would have a property right to the property which he, or ‐he‥ acquired‥ after the execution of the original agreement‥ and after the execution of the amended agreement‥, then the successor?

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Clark Nevada Negotiating and Drafting Successors and Assigns Provisions

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Shall inure to the benefit of and be binding upon?

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Interesting Questions

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