Test yourself

Read the clause and then choose the correct words from a list to complete the contract clause. TH S7
assign; equitable; conditions; forth; bound; binding; unreasonably; notwithstanding; implied; whatsoever;

Binding Effect

1. Scope and Binding Effect: This Agreement, and the various rights and obligations arising hereunder, shall be (1 p.) upon and shall inure to the benefit of the Parties to this Agreement and their respective successors, heirs, executors, administrators, and permitted assigns. Except as specifically provided herein, no Party may (1 p.) or otherwise transfer any of its rights or obligations under this Agreement without the express prior written consent of the other Party(ies), which consent shall not be (1 p.) withheld, delayed, or conditioned.

2. Successors and Assigns: (1 p.) the foregoing, a Party may, without the need for any consent, assign this Agreement and its rights and obligations hereunder to (i) any entity with which it may merge or consolidate, (ii) any affiliate of a Party, or (iii) any entity acquiring substantially all of the Party’s assets or business to which this Agreement pertains, provided that such assignee agrees in writing to be (1 p.) by the terms and (1 p.) of this Agreement.

3. No Third-Party Beneficiaries: This Agreement is for the sole benefit of the Parties hereto and their permitted successors and assigns and nothing herein, express or (1 p.) , is intended to or shall confer upon any other person or entity any legal or (1 p.) right, benefit, or remedy of any nature (1 p.) under or by reason of this Agreement.

4. Amendment and Modification: This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each Party hereto. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set (1 p.) in writing and signed by the Party so waiving.