SUCCESSORS AND ASSIGNS

Other Names: Binding Effect • Inurement Clause

Sample Clause Language:

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and permitted assigns.

Source: Sothebys (2017, June 21). Form 8-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml

 

Description:

Successors and Assigns clauses provide that a party’s successors and assigns will be subject to the obligations of, and be entitled to the benefits under, the agreement. The sample clause here is mutual and drafted to be neutral. Each parties’ successors and assigns will be subject to the obligations under, and be entitled to the benefits of, the agreement.

Common Contracts with this Clause:

  • All Commercial Agreements
 

What you'll see with Lawgood:

Number of Positions Available:

Three (3) Alternative Positions

  • Mutual (Standard)
  • Mutual (With Heirs)
  • Unilateral

Related Clauses:

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