Effective Date and Effect Sample Clauses
The 'Effective Date and Effect' clause establishes when an agreement or contract becomes legally binding and outlines the consequences or actions that take effect from that date. Typically, this clause specifies a particular calendar date or the occurrence of a specific event that triggers the contract’s enforceability, and it may clarify which rights, obligations, or provisions are activated at that time. Its core function is to provide certainty to all parties about when their commitments begin and what immediate legal effects follow, thereby preventing disputes over the timing and scope of contractual obligations.
Effective Date and Effect. This Bond Indenture shall become effective on August 19, 2014, provided that the Tender Agent shall have received the Purchase Price of all Bonds due on such date and (2) the Trustee shall have received written consents hereto from Bank of America, N.A. (as the Credit Facility Provider under the Original Bond Indenture) and an Opinion of Counsel to the effect that the Bonds issued pursuant to Section 3.01 are valid and enforceable obligations of the Issuer and interest on such Bonds is excludable from gross income of the owners thereof for federal income tax purposes, except with respect to any Bond for any period of time during which such Bond is held by a “substantial user” of any of the facilities financed with proceeds of the Bonds or by a “related person”, as such terms are defined in Section 147(a) of the Code. Promptly after this Bond Indenture has become effective, the Trustee shall cancel and release the letter of credit issued to it by Bank of America, N.A. under the Original Bond Indenture and return the same to the issuer thereof in accordance with Section 5.08F of the Original Bond Indenture. Except as expressly modified by this Bond Indenture, the terms and provisions of the Original Bond Indenture shall remain in force and effect as restated hereby, all of which are expressly ratified and confirmed. No amendment to the Original Bond Indenture or the Bonds effected or authorized hereby is intended to or shall extinguish any indebtedness represented thereby.
Effective Date and Effect. This Amendment shall be effective as of the Effective Date. Except as specifically set forth in this Amendment, all terms of the Purchase Agreement shall remain in full force and effect.
Effective Date and Effect