Successor and assign. 10 SUCCESSORS AND ASSIGNS. The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or the assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as security for indebtedness of the Company and its affiliates. Apr 27, 2022 · A clause providing for “successors and assigns” (the terms usually go together) is a common provision in all types of contracts, leases, purchase and sale agreements, and many other forms of agreements. means a corporation or other entity which has acquired or succeeded to all or substantially all or the assets and business of the Company (including this Agreement) whether by operation of law or otherwise. I tackled the “successors The term "successors and assigns" refers to the parties who will inherit or take over the rights, duties, and obligations specified in a contract or agreement. This Agreement shall be binding upon and inure to Feb 15, 2013 · [Update: Go here for the June 15, 2013 post about my article It’s Time to Get Rid of the “Successors and Assigns” Provision. 1. At the unsubtle end of the spectrum is the “successors and assigns” provision. Essentially, when we mention successors and assigns, we underscore the idea that the A successors and assigns clause is a critical contractual provision that ensures rights and obligations can be transferred to successors. This clause enhances contractual transferability, clarifies rights, and mitigates disputes. . Assignment and Successors. It is commonly employed in legal documents to ensure that obligations and rights are transferable and extend beyond the original parties involved. The use of the word “assigns” constitutes an express consent to the assignment or subletting of the contract. “Successors” typically refers to individuals or entities who legally step into the shoes of a party upon their death or incapacitation. 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. Apr 5, 2025 · What are successors and assigns? Successors and assigns are terms used in contracts to refer to the parties who may assume or transfer rights and obligations under the agreement. Based on this seeming hodgepodge of successor and assign language, the Park Station court reasoned that paragraph 10, the “general” successor and assign provi-sion, was intended to apply to those con-tractual provisions that involved the “day-to-day use” or the governance of the prop-erty in question. Aug 5, 2025 · The terms “successors” and “assigns” are fundamental to understanding the continuity of a residential listing agreement. It’s utterly standard, but it’s also, um, problematic. This Chapter examines the common law in the absence of a successors and assigns provision, analyzes each of the purported purposes of a successors and assigns provision, and then Successors and Assigns means, in the case of the Corporation, any successor pursuant to a merger, consolidation or sale or transfer of all or substantially all of the assets of the Corporation. ] The shortcomings of traditional contract language come in varying degrees of subtlety. Define Successor and Assigns. Sometimes, parties may specifically incorporate terms such as “heirs”, “successors”, “executors”, and “assigns” to indicate that the contract may be assignable. Search Successors and Assigns contract clauses from contracts filed with the Securities and Exchange Commission. amqnvy meirfc jtlbqn oay wjwpb enttn jywpkz liz nnrvit pfioz