Effectiveness and Appointment Sample Clauses
The 'Effectiveness and Appointment' clause establishes when an agreement or a party's role under the agreement becomes legally binding and operational. Typically, this clause specifies the date or conditions upon which the contract takes effect and may outline the formal appointment of a party, such as an agent, trustee, or representative, to act on behalf of another. By clearly defining the commencement of obligations and the authority of appointed parties, this clause ensures all parties understand when their rights and duties begin, thereby preventing disputes over timing or authority.
Effectiveness and Appointment. This Agreement is effective as of, and contingent upon, the occurrence of the Effective Date. Subject to the provisions of this Agreement, the Company employs the Executive and the Executive accepts employment as Chief Executive Officer of the Company on the terms of this Agreement.