Successor definition: Copy, customize, and use instantly
Introduction
The term "Successor" refers to an individual or entity that assumes the rights, responsibilities, or obligations of another entity, often in the context of a corporate transaction, merger, acquisition, or contract. The concept of a successor is crucial in legal and business contexts, ensuring continuity and the smooth transition of obligations and rights from one party to another.
Below are various examples of how "Successor" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Successor" for business acquisition
This definition ties "Successor" to a business acquisition.
"Successor" means any entity that acquires all or substantially all of the assets or liabilities of the company, whether by merger, consolidation, or purchase.
Definition of "Successor" for a successor entity
This definition connects "Successor" to a successor entity.
"Successor" refers to any entity that, by operation of law or otherwise, succeeds to the rights and obligations of the original entity under this agreement.
Definition of "Successor" for contract assignments
This definition links "Successor" to contract assignments.
"Successor" means any party that assumes the obligations and rights of a party under this agreement through an assignment or other legal transfer.
Definition of "Successor" for corporate mergers
This definition applies "Successor" to corporate mergers.
"Successor" refers to the corporation or entity that survives a merger, assuming all rights, duties, and obligations of the merged entities.
Definition of "Successor" for corporate succession planning
This definition ties "Successor" to corporate succession planning.
"Successor" means an individual or entity designated to take over a role, responsibility, or ownership of a business, typically as part of a succession plan.
Definition of "Successor" for successor liability
This definition connects "Successor" to successor liability.
"Successor" refers to an entity that inherits the liabilities and obligations of another entity, whether arising from its operations, contractual obligations, or legal responsibilities.
Definition of "Successor" for contractual successor
This definition links "Successor" to a contractual successor.
"Successor" means any entity or individual that takes over the contractual obligations of a party to this agreement upon its assignment, transfer, or delegation.
Definition of "Successor" for successor-in-interest
This definition applies "Successor" to successor-in-interest.
"Successor" refers to any entity or individual who succeeds to the interest of a party under the terms of this agreement by legal transfer or operation of law.
Definition of "Successor" for successor parties
This definition ties "Successor" to successor parties.
"Successor" means any party that takes over the responsibilities or rights of another under the agreement, including by way of inheritance, merger, or purchase.
Definition of "Successor" for a surviving entity
This definition connects "Successor" to a surviving entity.
"Successor" refers to the entity that remains after a corporate reorganization, consolidation, or merger, inheriting the rights, obligations, and liabilities of the predecessor.
Definition of "Successor" for successor in title
This definition links "Successor" to successor in title.
"Successor" means a party who succeeds in ownership or title to a property or asset by legal means, including transfer, inheritance, or sale.
Definition of "Successor" for successor party in debt obligations
This definition ties "Successor" to successor party in debt obligations.
"Successor" refers to any party that assumes the obligations of another party under debt agreements or loan covenants, such as in the case of a corporate acquisition or merger.
Definition of "Successor" for corporate successor
This definition connects "Successor" to corporate successor.
"Successor" means any corporation or entity that succeeds to the rights and obligations of a prior corporation due to a merger, consolidation, or other corporate restructuring.
Definition of "Successor" for successor entities in liquidation
This definition applies "Successor" to successor entities in liquidation.
"Successor" refers to the entity that acquires assets or assumes liabilities from another company in the course of liquidation or dissolution.
Definition of "Successor" for the assignee party
This definition ties "Successor" to the assignee party.
"Successor" means any assignee, transferee, or other party who acquires the rights and obligations of another party under this agreement.
Definition of "Successor" for successor rights
This definition connects "Successor" to successor rights.
"Successor" refers to any individual or entity who acquires or assumes the rights, privileges, and benefits under a prior agreement or arrangement.
Definition of "Successor" for surviving corporation
This definition links "Successor" to a surviving corporation.
"Successor" means the surviving corporation in a merger, which assumes all rights, responsibilities, and liabilities of the merged corporation.
Definition of "Successor" for successor agreements
This definition applies "Successor" to successor agreements.
"Successor" refers to a party that inherits rights and responsibilities under a new or updated agreement that replaces a prior agreement, ensuring continuity of obligations.
Definition of "Successor" for an acquiring entity
This definition ties "Successor" to an acquiring entity.
"Successor" means the entity that acquires another entity’s business or assets, thus assuming control over the business operations and responsibilities.
Definition of "Successor" for the surviving party
This definition connects "Successor" to the surviving party.
"Successor" refers to the party that survives an agreement or legal action after another party exits, either through death, bankruptcy, or dissolution.
Definition of "Successor" for successor beneficiary
This definition links "Successor" to successor beneficiary.
"Successor" refers to any individual or entity that succeeds to the rights or benefits of a beneficiary under a trust, will, or similar arrangement.
Definition of "Successor" for successor in business transactions
This definition applies "Successor" to successor in business transactions.
"Successor" means a party that succeeds to the rights, obligations, and assets of another party in the context of a business transaction, such as an acquisition or merger.
Definition of "Successor" for successor ownership
This definition ties "Successor" to successor ownership.
"Successor" refers to any individual or entity that inherits or acquires ownership rights, shares, or interests in a business entity.
Definition of "Successor" for successor management
This definition connects "Successor" to successor management.
"Successor" means an individual or group of individuals who assume management responsibilities for a company or organization following a leadership change or succession.
Definition of "Successor" for successor control
This definition links "Successor" to successor control.
"Successor" refers to any entity or individual that assumes control over an organization or asset, typically following a change in ownership, structure, or management.
Definition of "Successor" for change of control
This definition applies "Successor" to a change of control.
"Successor" means any entity or individual who gains control of another company or its assets, typically after a merger, acquisition, or other corporate restructuring.
Definition of "Successor" for legal successor
This definition ties "Successor" to legal successor.
"Successor" refers to any party that succeeds to the legal rights and responsibilities of another entity, typically as part of a merger, dissolution, or assignment.
Definition of "Successor" for successor entity under a plan
This definition connects "Successor" to successor entity under a plan.
"Successor" means the entity designated to take over the obligations and responsibilities of a previous entity under a formal reorganization or restructuring plan.
Definition of "Successor" for post-merger successor
This definition links "Successor" to post-merger successor.
"Successor" refers to the entity that survives and continues business operations following a merger, assuming all rights and obligations of the previous entities involved.
Definition of "Successor" for successor in authority
This definition applies "Successor" to successor in authority.
"Successor" refers to an individual or entity that assumes a position of authority, responsibility, or decision-making power following a transition or leadership change.
Definition of "Successor" for successor legal entity
This definition ties "Successor" to successor legal entity.
"Successor" means the legal entity that takes over the rights, responsibilities, and liabilities of a predecessor following a merger, acquisition, or consolidation.
Definition of "Successor" for successor to claims
This definition connects "Successor" to successor to claims.
"Successor" refers to a party that inherits claims or obligations from a previous entity, especially in cases involving legal or financial responsibilities.
Definition of "Successor" for post-acquisition successor
This definition links "Successor" to post-acquisition successor.
"Successor" means the entity that assumes control, rights, and obligations following an acquisition, typically continuing the business or assets of the acquired entity.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.