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Assignment, Binding Effect
Assignment, Binding Effect contract clause examples

Binding Effect/Assignment. This Agreement will inure to the benefit of and bind the respective successors of the parties. Seller may not assign this Agreement or any obligations hereunder. Buyer may assign this Agreement and any and all rights and obligations hereunder at any time prior to closing to any person or entity controlling, controlled by, or under common control with Buyer. For purposes of this Paragraph a person or entity shall control an entity, if it, directly or indirectly, holds a majority interest in the entity to be controlled.

Binding Effect/Assignment. This Agreement will inure to the benefit of and bind the respective successors of the parties, including specifically the post closing provisions stated herein which shall survive Closing. Seller may not assign this Agreement or any obligations hereunder. Buyer may assign this Agreement and any and all rights and obligations hereunder at any time prior to closing to any person or entity controlling, controlled by, or under common control with Buyer. For purposes of this Paragraph a person or entity shall control an entity, if it, directly or indirectly, holds a majority interest in the entity to be controlled. Notwithstanding anything stated herein to the contrary, either Buyer or Seller (or both) may unilaterally execute and record a simple notice of this Agreement with the land records office for the purpose of providing notice hereof and both parties shall deem any such notice as sufficient, lawful and proper pursuant to all applicable state and local laws. If this Agreement is properly terminated prior to Closing in accordance with the terms herein pertaining to termination rights, then Seller may file a release of any such notice without the consent of Buyer, and any such release may be relied upon by any third party.

Binding Effect and Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective permitted successors and assigns. Nothing in this Agreement, express or implied, is intended to confer upon any Person other than the Parties hereto and their respective permitted successors and assigns, any rights, benefits or obligations hereunder. No Party hereto may assign, transfer, dispose of or otherwise alienate this Agreement or any of its rights, interests or obligations under this Agreement (whether by operation of Law or otherwise) without the prior written consent of the other Party. Any attempted assignment, transfer, disposition or alienation in violation of this Agreement shall be null, void and ineffective.

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