Effectiveness of Note Sample Clauses
The 'Effectiveness of Note' clause establishes when a promissory note or similar financial instrument becomes legally binding and enforceable. Typically, this clause specifies that the note takes effect upon execution by the parties, or upon the occurrence of a particular event, such as the disbursement of funds. By clearly defining the moment the note becomes effective, this clause ensures both parties understand when their rights and obligations under the note commence, thereby preventing disputes over timing and enforceability.
Effectiveness of Note. This Note shall become effective at and as of the date hereof.
Effectiveness of Note. This Note shall become effective at and as of the Second Closing Date (as defined in the Equity Purchase Agreement).
Effectiveness of Note. Except as amended hereby, the terms of the Note shall remain in full force and effect as originally executed, and the same is confirmed by Lender and Maker.
Effectiveness of Note. The conversion of the Conversion Amount pursuant to the terms of this Agreement shall be deemed a partial prepayment of principal and accrued interest under the Note. Each of the Company and Payee hereby ratify the Note and acknowledge that the Note is in full force and effect and constitutes a legal, valid and binding obligation of the Company in accordance with its terms.
Effectiveness of Note. Except as expressly amended hereby, all provisions of the Note shall remain in full force and effect. This First Amendment to Note shall be affixed to the Note.