The "No Third Party Beneficiaries" clause stipulates that the contract is intended solely for the benefit of the parties involved, and no external parties have any rights or claims under the agreement. This clause ensures that only the signatories have enforceable interests and precludes any unintended beneficiaries from asserting rights derived from the contract.
“13.8No Third-Party Beneficiaries. Except as identified in parts of this Agreement referencing Cambridge, ICGEB, and Vanderbilt, no provision of this Agreement, express or implied, confers upon any person other than the Parties to this Agreement, any rights, remedies, obligations, or liabilities hereunder. No Sublicensee will have a right to enforce or seek damages under this Agreement.”
8.No Third-Party Beneficiaries. No person not a party to this Agreement shall have any rights hereunder, it being the intent of the parties that there shall be no third-party beneficiaries.
(e) No Third-Party Beneficiaries. There are no third-party beneficiaries of this Amendment. None of the provisions of this Amendment shall be for the benefit of or enforceable by any third-party creditor of the Company.
1.4 No Third Party Beneficiaries. This Agreement is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.
5.7 No Third Party Beneficiaries. Nothing in this Agreement shall convey any rights upon any person or entity which is not a party or a successor or permitted assignee of a party to this Agreement.
(d) No Third-Party Beneficiaries. There are no Third-Party beneficiaries of this Agreement and nothing in this Agreement, express or implied, is intended to confer on any person other than the Parties and their respective successors and assigns, any rights, remedies, obligations or liabilities.
SECTION 3. No Third Party Beneficiaries. Nothing in this Agreement is intended, nor will be deemed, to confer rights or remedies upon any person or legal entity not a party to this Agreement.
8. NO THIRD-PARTY BENEFICIARIES The terms of this Section 8 shall apply only to those Funds identified from time to time on Schedule D to this Contract. No shareholder or any person other than the Fund and the Manager is a party to this Contract or shall be entitled to any right or benefit arising under or in respect of this Contract; there are no third-party beneficiaries of this Contract. Without limiting the generality of the foregoing, nothing in this Contract is intended to, or shall be read to, (i) create in any shareholder or person other than the Fund in question (including without limitation any shareholder in any Fund) any direct, indirect, derivative, or other rights against the Manager, or (ii) create or give rise to any duty or obligation on the part of the Manager (including without limitation any fiduciary duty) to any shareholder or person other than the Fund, and all of the rights, duties, and obligations referred to in the foregoing clauses (i) and (ii) are hereby expressly excluded from this Contract.
b. No Third Party Beneficiaries. Except as may be expressly provided in this Agreement, there shall be no third party beneficiaries.
(f) No Third Party Beneficiaries. Except as expressly provided in the immediately preceding Section 6(e), this Agreement, including the representations, warranties, covenants and indemnities contained herein, shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. This Agreement is solely for the benefit of each Party and such Party’s respective successors and assigns. No provision of this Agreement shall be deemed to confer on any third party any claim, remedy, liability, reimbursement, cause of action on other right under this Agreement, whether against either Party or otherwise, and, consistent therewith, there are no third party beneficiaries, express or implied, of this Agreement. The representations, warranties, covenants, agreements and indemnities contained herein shall survive the execution and delivery of this Agreement.
10. NO THIRD PARTY BENEFICIARIES No person other than the Trust and the Manager is a party to this Agreement or shall be entitled to any right or benefit arising under or in respect of this Agreement; there are no third-party beneficiaries of this Agreement. Without limiting the generality of the foregoing, nothing in this Agreement is intended to, or shall be read to, create in any person other than the Fund (including, without limitation, any shareholder in the Fund) any direct, indirect, derivative, or other rights against the Manager.
15.Successors and Assigns; No Third Party Beneficiaries. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. There are no third party beneficiaries of this Agreement.
9. Assignment; No Third-Party Beneficiaries No party shall be entitled to assign its rights and obligations hereunder without the prior written consent of the other party. Except as specifically set forth or referred to herein, nothing herein is intended or will be construed to confer upon any person or entity other than the parties and their successors or assigns, any rights or remedies under or by reason of this Term Sheet.
4. ASSIGNMENT; NO THIRD PARTY BENEFICIARIES 4.1 This Option Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders, which shall include Permitted Transferees. 4.2 This Option Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Option Agreement. 4.3 No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon the other party until such party shall have received (i) written notice of such assignment and (ii) the written agreement of the assignee, to be bound by the terms and provisions of this Option Agreement. Any transfer or assignment made other than as provided in this Clause 4.3 shall be null and void.
The term “No Third Party Beneficiaries” is a clause found in many contracts that expressly stipulates that the contract does not confer any rights or benefits to any person or entity other than the parties involved in the agreement. This clause is intended to prevent third parties who are not signatories from claiming any benefits or rights from the contract.
You should use a “No Third Party Beneficiaries” clause in a contract when you want to ensure that the terms of the contract are strictly confined to the parties involved. This is especially important in agreements where:
Writing a “No Third Party Beneficiaries” clause requires clear and precise language to ensure enforceability. A typical clause might read like this:
No Third Party Beneficiaries. This Agreement is intended solely for the benefit of the parties hereto and their respective successors and permitted assigns, and is not intended to, nor shall it, confer any rights or remedies upon any other person or entity other than the parties hereto.
When drafting the clause, ensure that it is straightforward and leaves no room for ambiguity about the parties’ intent.
Contracts that often include a “No Third Party Beneficiaries” clause include:
Including such a clause in contracts where it is appropriate can help prevent legal disputes and clarify the scope of the agreement’s benefits and obligations.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "No Third Party Beneficiary Rights" clause specifies that the contract is only intended to benefit the parties involved, and not any outside individuals or entities. This ensures that no third party can claim any rights or demand any obligations from the parties based on the contract.
The "Non-Binding Nature" clause specifies that the terms outlined in the agreement are not intended to create legally enforceable obligations between the parties involved. Instead, it signifies that the document is more of an expression of intent or a preliminary negotiation and does not constitute a formal commitment.
The "Not for distribution" clause in a contract restricts the sharing or dissemination of the specified materials, information, or documents to unauthorized parties. Its purpose is to protect sensitive content and ensure it is only accessed by individuals or entities explicitly permitted by the contract.
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