Effectiveness of Section 3 Sample Clauses

Effectiveness of Section 3. Notwithstanding anything in this Section 3 to the contrary, this Section 3 shall not become effective unless and until Tenant purchases the Burdened Parcels from AEW/LBA. If Tenant purchases the Burdened Parcels from AEW/LBA, this Section 3 shall automatically become effective as of the date (the “Title Transfer Date”) on which the Grant Deed conveying title to the Burdened Parcels to Tenant is recorded in the Official Records of San Diego County.
Sample 1
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Effectiveness of Section 3. The provisions of Section 3 of this Sixth Amendment shall have no force and effect unless (i) the Section 11 Rent Prepayment has occurred on or before August 31, 2004, (ii) the amount of the Section 11 Rent Prepayment is at least Seven Million Five Hundred Thousand Dollars ($7,500,000) (which amount shall be applied to reduce the amount of Rent outstanding, exclusive of PIK Interest, and thereafter to PIK Interest), (iii) SAVVIS Inc. shall have become a party to the Subsidiary Guaranty and a Security Agreement in which it grants the Agent a first priority Lien on all of its assets, which includes all of the assets acquired by SAVVIS Inc. pursuant to the C&W Transaction (but which shall not include the assets subject to the C&W Sale/Leaseback Transaction) and shall thereafter be a “Credit Party” under the Lease Agreement, (iv) the amendments to the Master Lease Agreement set forth in Section 2 above shall not have become effective pursuant to Section 10 above, and (v) no Default or Event of Default has occurred and is continuing as of the date on which the provisions of Section 3 of this Sixth Amendment would otherwise become effective; provided, however, in the event that Lessee shall not have made the Section 10 Rent Prepayment prior to August 31, 2004, Lessee shall make the Section 11 Rent Prepayment on August 31, 2004 and the failure of Lessee to do so shall constitute an Event of Default under the Master Lease Agreement. In the event SAVVIS Inc. shall have failed to become a party to the Subsidiary Guaranty and grant to Agent a first priority Lien on all of its assets (which includes all of the assets acquired by SAVVIS Inc. pursuant to the C&W Transaction, exclusive of the assets subject to the C&W Sale/Leaseback Transactions), on or before August 31, 2004, and such failure continues for a period of five (5) days after Agent shall have notified Lessee of such failure, such failure shall constitute an Event of Default under the Master Lease Agreement. Lessee and Agent further agree that Section 5.9 of the Master Lease Agreement shall not be construed to prohibit Savvis Inc. from locating assets having a book value in excess of $250,000 at any leased property on which assets of Savvis Inc. having a book value in excess of $250,000 are located as of the date; provided (i) upon request of Agent, Lessee shall use its commercially reasonable best efforts to obtain a landlord’s agreement from each lessor of leased property on which property of Savvis Inc. is...
Sample 1

Related to Effectiveness of Section 3

  • Conditions Precedent to Effectiveness of Section 2.01 Section 2.01 of this Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • Effectiveness of Agreement This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.

  • Effectiveness of Notices All notices, demands, requests, consents and other communications described in clause (a) above shall be effective (i) if delivered by hand, including any overnight courier service, upon personal delivery, (ii) if delivered by mail, when deposited in the mails, (iii) if delivered by posting to an Approved Electronic Platform, an Internet website or a similar telecommunication device requiring that a user have prior access to such Approved Electronic Platform, website or other device (to the extent permitted by Section 10.3 (Posting of Approved Electronic Communications) to be delivered thereunder), when such notice, demand, request, consent and other communication shall have been made generally available on such Approved Electronic Platform, Internet website or similar device to the class of Person being notified (regardless of whether any such Person must accomplish, and whether or not any such Person shall have accomplished, any action prior to obtaining access to such items, including registration, disclosure of contact information, compliance with a standard user agreement or undertaking a duty of confidentiality) and such Person has been notified that such communication has been posted to the Approved Electronic Platform and (iv) if delivered by electronic mail or any other telecommunications device, when transmitted to an electronic mail address (or by another means of electronic delivery) as provided in clause (a) above; provided, however, that notices and communications to the Administrative Agent pursuant to Article II (The Facility) or Article X (The Administrative Agent) shall not be effective until received by the Administrative Agent.

  • Continuing Effectiveness, etc As herein amended, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all respects.

  • Conditions to Effectiveness of Agreement This Agreement shall become effective on the date (the "Effective Date") each of the following conditions precedent is satisfied:

  • Effectiveness of the Agreement This Agreement shall become effective when both the Company and the Representative have executed the same and delivered counterparts of such signatures to the other party.

  • Effectiveness of Covenants (a) Following the first day:

  • Effectiveness of Contract The Contract shall take effect from the date of signatures or seals by the Lender and the Borrower.

  • Effectiveness; Governing Law This Amendment shall be effective upon acceptance by Agent and Lenders (notice of which acceptance is hereby waived), whereupon the same shall be governed by and construed in accordance with the internal laws of the State of Georgia.

  • Amendment of Section 3 Section 3 of the Employment Agreement is hereby deleted in its entirety and replaced with the following: Term. Unless otherwise terminated in accordance with Sections 8, 9, 10 or 11, the Employment Term shall be for a term ending April 30, 2015. This Agreement shall be automatically renewed for successive additional Employment Terms of one (1) year each unless notice of termination is given in writing by either party to the other party at least thirty (30) days prior to the expiration of the initial Employment Term or any renewal Employment Term.

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