Successors Binding Agreement Clause Example with 4 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. (a) This Agreement shall not be terminated by any Change in Control or other merger, consolidation, statutory share exchange, sale of substantially all the assets or similar form of corporate transaction involving the Company (a "Business Combination"). In the event of any Business Combination, the provisions of this Agreement shall be binding upon the surviving corporation, and such surviving corporation shall be treated as the Company hereunder. (b) The Company agrees that in connection with a...ny Business Combination, it will cause any successor entity to the Company unconditionally to assume (and for any parent entity in such Business Combination to guarantee), by written instrument delivered to Executive (or Executive's beneficiary or estate), all of the obligations of the Company hereunder. (c) This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive shall die while any amounts would be payable to Executive hereunder had Executive continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such 10 person or persons appointed in writing by Executive to receive such amounts or, if no person is so appointed, to Executive's estate.View More
Variations of a "Successors Binding Agreement" Clause from Business Contracts
Successors Binding Agreement. (a) This Agreement shall not be terminated by survive any Change in Control or other merger, consolidation, statutory share exchange, sale of substantially all the assets or similar form of corporate transaction involving the Company (a "Business Combination"). In the event of any Business Combination, the provisions of this Agreement business combination and shall be binding upon the surviving corporation, and entity of any business combination (in which case such surviving corporation entity s...hall be treated as the Company hereunder. hereunder). (b) The Company agrees that in In connection with any Business Combination, it business combination, the Company will cause any successor entity to the Company unconditionally to assume (and for any parent entity in such Business Combination to guarantee), by written instrument delivered to Executive (or Executive's his beneficiary or estate), estate) all of the obligations of the Company hereunder. (c) This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees devisees, and legatees. If Executive shall die dies while any amounts would be payable to Executive hereunder had Executive continued to live, hereunder, then all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such 10 person or persons appointed in writing by Executive to receive such amounts or, if no person is so appointed, to Executive's estate. (d) Executive may not assign this Agreement. The Company may assign this Agreement in its discretion to any parent/subsidiary company or successor in interest to the business, or part thereof, of the Company. View More
Successors Binding Agreement. (a) This Agreement shall not be terminated by survive any Change in Control or other merger, consolidation, statutory share exchange, sale of substantially all the assets or similar form of corporate transaction involving the Company (a "Business Combination"). In the event of any Business Combination, the provisions of this Agreement business combination and shall be binding upon the surviving corporation, entity of any business combination (in which case and such surviving corporation entity s...hall be treated as the Company hereunder. hereunder). (b) The Company agrees that in In connection with any Business Combination, it business combination, the Company will cause any successor entity to the Company unconditionally to assume (and for any parent entity in such Business Combination to guarantee), by written instrument delivered to Executive (or Executive's his beneficiary or estate), estate) all of the obligations of the Company hereunder. (c) This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees devisees, and legatees. If Executive shall die dies while any amounts would be payable to Executive hereunder had Executive continued to live, hereunder, then all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such 10 person or persons appointed in writing by Executive to receive such amounts or, if no person is so appointed, to Executive's estate. View More
Successors Binding Agreement. (a) This ab.This Agreement shall not be terminated by any Change in Control or other merger, consolidation, statutory share exchange, sale of substantially all the assets or similar form of corporate transaction involving the Company (a "Business Combination"). Business Combination. In the event of any Business Combination, the provisions of this Agreement shall be binding upon the surviving corporation, Surviving Corporation, and such surviving corporation Surviving Corporation shall be treated... as the Company hereunder. (b) The ac.The Company agrees that in connection with any Business Combination, it will cause any successor entity to the Company unconditionally to assume (and for any parent entity Parent Corporation in such Business Combination to guarantee), by written instrument delivered to Executive (or Executive's his beneficiary or estate), all of the obligations of the Company hereunder. (c) This Failure of the Company to obtain such assumption and guarantee prior to the effectiveness of any such Business Combination that constitutes a Change in Control, shall be a breach of this Agreement and shall constitute Good Reason hereunder and shall entitle Executive to compensation and other benefits from the Company in the same amount and on the same terms as Executive would be entitled hereunder if Executive's employment were terminated following a Change in Control by reason of a Qualifying Termination. For purposes of implementing the foregoing, the date on which any such Business Combination becomes effective shall be deemed the date Good Reason occurs, and shall be the Date of Termination if requested by Executive. ad.This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive shall die while any amounts would be payable to Executive hereunder had Executive continued to live, all such amounts, unless otherwise provided herein, herein: shall be paid in accordance with the terms of this Agreement to such 10 person or persons appointed in writing by Executive to receive such amounts or, if no person is so appointed, to Executive's estate. View More
Successors Binding Agreement. (a) This (a)This Agreement shall not be terminated by any Change in Control or other the consummation of a merger, consolidation, statutory share exchange, sale of substantially all the assets exchange or similar form of corporate transaction involving the Company or any of its Subsidiaries (a "Business Combination"). In the event of Combination"), and in any Business Combination, such event, the provisions of this Agreement shall be binding upon the surviving corporation, entity thereof, and su...ch surviving corporation Surviving Corporation shall be treated as the Company hereunder. (b) The (b)The Company agrees that in connection with any Business Combination, it will cause any successor entity to the Company to unconditionally to assume (and for any parent entity corporation in such Business Combination to guarantee), by written instrument delivered to Executive (or Executive's his beneficiary or estate), all of the obligations of the Company hereunder. (c) This Failure of the Company to obtain such assumption and guarantee at least three days prior to the effectiveness of any such Business Combination (the "Assumption Date") shall be a breach of this Agreement and shall, effective as of the Assumption Date, entitle Executive to compensation and other benefits from the Company in the same amount and on the same terms as Executive would be entitled hereunder by reason of a Qualifying Termination. (c)This Agreement shall inure to the benefit of and be enforceable by Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive shall die while any amounts would be payable to Executive hereunder had Executive continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such 10 person or persons appointed in writing by Executive to receive such amounts or, if no person is so appointed, to Executive's estate. View More
