
Corporation, Organized under the Laws of the State of , Its Successors or Assigns, Form


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People also ask
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What does its successors and/or assigns mean?
1.10 SUCCESSORS AND ASSIGNS. For purposes of this Agreement, "Successors and Assigns" shall mean a corporation or other entity acquiring all or substantially all the assets and business of the Company (including this Agreement) whether by operation of law or otherwise.
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What is the successors and assigns clause?
The successors and assigns clause, sometimes referred to as the inurement (or enurement) clause, states that the agreement is for the benefit of, and can be enforced by, the successors, permitted assigns, and, sometimes, heirs of the parties or other designated third parties.
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What does and or assigns mean in real estate?
The contract's assignment clause states the “buyer and/or assigns.” In this clause, “assigns” is a noun that means assignees. It refers to anyone you choose to receive your property rights. The assignment provision establishes the fact that the buyer (who is the assignor) can assign the property to an assignee.
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What does successor mean in a contract?
Simply put, the successors and assigns are required to perform the agreement in the same manner, and to the same extent, that the parties would be required to perform it if no succession had taken place.
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What is the meaning of heirs successors and assigns?
The successors and assigns clause, sometimes referred to as the inurement (or enurement) clause, states that the agreement is for the benefit of, and can be enforced by, the successors, permitted assigns, and, sometimes, heirs of the parties or other designated third parties.
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What is the meaning of successor and assign?
Related Definitions Successor and Assigns means any Person who after the Stipulation is signed by Defendants acquires all or substantially all the assets of a Defendant whether such transfer of assets is by operation of law or otherwise.
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What is an example of a successors and assigns clause?
Sample Language Successors and Assigns. Neither Party may assign its rights or delegate its duties under this Agreement without the prior written consent of the other Party (which consent shall not be unreasonably withheld or delayed), and any purported attempt to do so shall be null and void.
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What does binding on successors and assigns mean?
This clause states that the contract is binding upon the parties signing it as well as their successors and assigns. It means the contract applies to the original parties and also to any future individuals or entities that take over the parties' responsibilities or ownership.
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