Successors Binding Agreement Clause Example with 121 Variations from Business Contracts
This page contains Successors Binding Agreement clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such ...assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. 9.2 This Agreement shall inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of the Executive's estate.View More
Variations of a "Successors Binding Agreement" Clause from Business Contracts
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the The Company shall will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obt...ain such assumption The Company's rights and agreement prior to the effectiveness of any such succession shall be a breach of obligations under this Agreement. 9.2 This Agreement shall inure to the benefit of and shall be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate binding upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms Company's successors and assigns. [The remainder of this Agreement to the executors, personal representatives or administrators of the Executive's estate. page is intentionally left blank.] View More
Successors Binding Agreement. 9.1 In addition Successor to any obligations imposed by law upon any successor to the Company, the Company Assume Agreement. The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company Corporation to expressly assume and agree to perform this Agreement in the same manner Agreement. The Corporation will promptly notify you of any failure to obtain such assumption ...and to the same extent that the Company would be required to perform it if no such succession had taken place. agreement. Failure of the Company Corporation to obtain such assumption and agreement prior to the effectiveness of any such succession Change in Control Date shall be a breach of this Agreement and shall entitle you to terminate your employment and receive compensation from the Corporation in the same amount and on the same terms to which you would be entitled hereunder if you terminate your employment for Good Reason in accordance with Section 4.2 of this Agreement. Unless expressly provided otherwise, "Corporation" as used herein shall mean the Corporation as defined in this Agreement. 9.2 Binding Agreement. This Agreement shall inure to the benefit of and be enforceable by the Executive's you and your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall you should die while any amount would still be payable to the Executive you hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had you continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives your devisee, legatee or administrators of the Executive's other designee or, if there is no such designee, to your estate. View More
Successors Binding Agreement. 9.1 In addition 8.1 Successor to any obligations imposed by law upon any successor to the Company, the Company Assume Agreement. The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company Corporation to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succes...sion had taken place. Failure Agreement. The Corporation will promptly notify you of the Company any failure to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this agreement. 8.2 Binding Agreement. 9.2 This Agreement shall inure to the benefit of and be enforceable by the Executive's you and your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall you should die while any amount would still be payable to the Executive you hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had you continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives your devisee, legatee or administrators of the Executive's other designee or, if there is no such designee, to your estate. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the Company shall (a) The Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company Bank would be required to perform it if no such succession had taken pl...ace. Failure As used in this Agreement, "Bank" shall mean the Bank as defined previously and any successor to its respective business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of the Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. 9.2 law or otherwise. (b) This Agreement shall inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and or legatees. If the Executive shall should die while following termination of Executive's employment without Cause or for Good Reason, and any amount amounts would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) under this Agreement if the Executive had continued to live, all such amounts, unless otherwise provided herein, amounts shall be paid in accordance with the terms of this Agreement to the executors, personal representatives Executive's devisee, legatee, or administrators of the other designee, or, if there is no such designee, to Executive's estate. 8 15. Legal Expenses. The Bank shall reimburse Executive for all reasonable legal fees and expenses he may incur in seeking to obtain or enforce any right or benefit provided by this Agreement, but only with respect to such claim or claims upon which Executive prevails. Such payments shall be made within fourteen (14) days after delivery of Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Bank may reasonably require. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the Company (a) The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company Corporation or of any division or subsidiary thereof employing Employee to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company Corporation would... be required to perform it if no such succession had taken place. Failure of the Company Corporation to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. 9.2 Agreement and shall entitle Employee to terminate employment and receive compensation from the Corporation in the same amount and on the same terms as Employee would be entitled hereunder if Employee terminated his employment for Good Reason. (b) This Agreement shall inure to the benefit of and be enforceable by the Executive's Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall Employee should die while any amount would still be payable to the Executive him hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive he had continued to live, all such amounts, unless otherwise provided herein, herein. shall be paid in accordance with the terms of this Agreement to the executors, personal representatives Employee's devisee, legatee or administrators of the Executive's other designees or, if there is no such designee, to Employee's estate. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the (a) The Company shall will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to... obtain such Such assumption and agreement shall be obtained prior to the effectiveness of any such succession succession. As used in this Agreement, "Company" shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. Prior to a Change in Control, the term "Company" shall also mean any affiliate of the Company to which Employee may be transferred and Company shall cause such successor employer to be considered the "Company" bound by the terms of this Agreement and this Agreement shall be amended to so provide. Following a breach Change in Control the term "Company" shall not mean any affiliate of the Company to which Employee may be transferred unless Employee shall have previously approved of such transfer in writing, in which case the Company shall cause such successor employer to be considered "Company" bound by the terms of this Agreement. 9.2 Agreement and this Agreement shall be amended to so provide. (b) This Agreement shall inure to the benefit of and be enforceable by the Executive's Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall Employee should die while any amount would still be payable to the Executive Employee hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive Employee had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives Employee's devisee, legatee or administrators of the Executive's other designee or, if there is no such designee, to Employee's estate. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company Company, by agreement in form and substance satisfactory to you, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no su...ch succession had taken place. Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any such succession that constitutes a Change in Control shall be a breach of this Agreement. 9.2 Agreement and shall entitle you to compensation from the Company, upon a termination by you for Other Good Reason in accordance with Section 3(e)(B), in the same amount and on the same terms as you would be entitled hereunder under Section 4. As used in this Agreement "Company" shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided for in this Section 11 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. This Agreement shall inure to the benefit of and be enforceable by the Executive's your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall you should die while any amount amounts would still be payable to the Executive you hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive you had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to your devisees, legatees, or other designee or, if there be no such designee, to your estate within 90 days of your death; provided that where such 90-day period begins in one calendar year and ends in another calendar year, your devisees, legatees, other designee, or estate shall not be entitled to designate the executors, personal representatives or administrators taxable year of the Executive's estate. payment. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the (a) The Company shall will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to ChangeinControl-Krog perform it if no such succession had taken place. Fail...ure of the Company to obtain such Such assumption and agreement shall be obtained prior to the effectiveness of any such succession succession. As used in this Agreement, "Company" shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. Prior to a Change in Control, the term "Company" shall also mean any affiliate of the Company to which you may be transferred and Company shall cause such successor employer to be considered the "Company" bound by the terms of this Agreement and this Agreement shall be amended to so provide. Following a breach Change in Control the term "Company" shall not mean any affiliate of the Company to which you may be transferred unless you shall have previously approved of such transfer in writing, in which case the Company shall cause such successor employer to be considered "Company" bound by the terms of this Agreement. 9.2 Agreement and this Agreement shall be amended to so provide. (b) This Agreement shall inure to the benefit of and be enforceable by the Executive's your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall you should die while any amount would still be payable to the Executive you hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive you had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives your devisee, legatee or administrators of the Executive's other designee or, if there is no such designee, to your estate. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the Company shall (a) Bank and Corporation will require any successor (whether direct or indirect, by purchase, merger, consolidation consolidation, or otherwise) to all or substantially all of the business businesses and/or assets of the Company Bank and Corporation to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company Bank and Corporation would be re...quired to perform it if no such succession had taken place. Failure of the Company by Bank and Corporation to obtain such assumption and agreement prior to the effectiveness of any such succession shall be constitute a breach of this Agreement. 9.2 Agreement and the provisions of Section 7 of this Agreement shall apply. As used in this Agreement, "Bank and Corporation" shall mean Bank and Corporation, as defined previously and any successor to its respective businesses and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise. (b) This Agreement shall inure to the benefit of and be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, distributes, devisees and legatees. If the Executive shall should die while after a Notice of Termination is delivered by Executive, or following termination of Executive's employment without Cause, and any amount amounts would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) under this Agreement if the Executive had continued to live, all such amounts, unless otherwise provided herein, amounts shall be paid in accordance with the terms of or this Agreement to the executors, personal representatives Executive's devisee, legatee, or administrators of the other designee, or, if there is no such designee, to Executive's estate. View More
Successors Binding Agreement. 9.1 In addition to any obligations imposed by law upon any successor to the Company, the (i). The Company shall will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company t...o obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement. 9.2 Agreement and shall entitle Employee to compensation from the Company in the same amount and on the same terms as Employee would be entitled to under this Agreement if Employee terminates Employee's employment for Good Reason following a change in control of the Company, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination. As used in this Agreement, "Corporation" shall mean the Company as defined above and any successor to its business and/or assets as which assumes and agrees to perform this Agreement by operation of law, or otherwise. (ii). This Agreement shall inure to the benefit of and be enforceable by the Executive's Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees distributes, and legatees. If the Executive shall Employee should die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) Employee if the Executive Employee had continued to live, all such amounts, unless otherwise provided herein, in this Agreement, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives Employee's beneficiary or administrators of the Executive's other designee or, if there is no such designee, to Employee's estate. View More
