Common use of Assignment Date Clause in Contracts

Assignment Date. The Assignment Date for this Agreement shall be the date first above written; provided, however, that if Assignee shall not have paid to Assignor the amount referred to in Section 2 hereof, prior to 5:00 p.m. prevailing Eastern time on such date, then the Assignment Date shall instead be the date on which Assignee shall have so satisfied such condition; further provided, that if Assignee does not so satisfy such condition prior to 5:00 p.m. prevailing Eastern time on the tenth (10th) Business Day following the date first written above, this Agreement shall terminate and Assignor shall have no further obligations to Assignee.