Approvals in Effect Clause Samples
The "Approvals in Effect" clause defines the status and validity of any consents, permissions, or authorizations that have been granted under the agreement. It typically clarifies that all approvals previously given remain valid and enforceable unless specifically revoked or modified in writing. For example, if a party has approved a particular action or document, that approval continues to apply until formally withdrawn. This clause ensures continuity and certainty in the contractual relationship by preventing parties from retroactively disputing or rescinding approvals without proper notice.
Approvals in Effect all licences, consents, approvals, authorisations, orders and clearances of all regulatory authorities required by the Issuer for or in connection with the creation and offering of Notes under the Programme, the execution and issue of, and compliance by the Issuer with the terms of Notes issued under the Programme and the execution and delivery of, and compliance with the terms of, this Agreement and the Agency Agreement have been obtained and are in full force and effect;