Common use of EFFECTIVENESS OF EXECUTION Clause in Contracts

EFFECTIVENESS OF EXECUTION. This Second Priority Funding Deed of Charge shall be fully effective and binding upon Funding and the Security Trustee upon at least one copy of this Second Priority Funding Deed of Charge having been executed and delivered by both Funding and the Security Trustee notwithstanding that any other person expressed to be a party to this Second Priority Funding Deed of Charge has not then executed and delivered this Deed and notwithstanding any such party has executed or executes and has delivered or delivers a counterpart of this Deed.