Effectiveness Definitions Sample Clauses
The 'Effectiveness; Definitions' clause establishes when the agreement becomes legally binding and provides precise meanings for key terms used throughout the contract. Typically, this clause specifies the date or conditions under which the contract takes effect and includes a list of defined terms to ensure consistent interpretation. By clarifying both the commencement of contractual obligations and the definitions of important terms, this clause helps prevent misunderstandings and disputes over the contract’s scope and application.
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Effectiveness Definitions
Effectiveness Definitions. (a) The rights and obligations of the parties set forth in this Agreement shall become effective and shall be binding upon the parties in accordance with its terms immediately upon the closing of the transactions contemplated by the Transfer Agreement and the Prior Agreement shall be terminated at such time. The Prior Agreement shall remain in full force and effect in accordance with its terms unless and until the occurrence of the closing of the transactions contemplated by the Transfer Agreement.
(b) For purposes of this Agreement:
Effectiveness Definitions. (a) The rights and obligations of the parties set forth in this Agreement shall not become effective unless the Company fails to obtain Stockholder Approval at the Stockholders’ Meeting (except that the provisions of Section 7 hereof shall become effective on the date hereof).
(b) For purposes of this Agreement:
Effectiveness Definitions. 2 1.1 Closing ............................................................................. 2 1.2 Definitions ......................................................................... 2