Effectiveness of Substitution Sample Clauses

Effectiveness of Substitution. On and from the Substitution Effective Date:
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Effectiveness of Substitution. (a) such Substitute will become a party to the Comprehensive Agreement and this Agreement in place of the Developer who will be immediately released from its obligations arising under, and cease to be a party to, the Comprehensive Agreement and this A... (b) such Substitute will exercise and enjoy the rights and perform the obligations of the Developer under the Comprehensive Agreement and this Agreement, and (c) the Department shall owe its obligations (including, without limitation, any undischarged liability in respect of any loss or damage suffered or incurred by the Developer prior to the Substitution Effective Date) under the Comprehensive Agreement ...
Sample 1
Effectiveness of Substitution. (a) Upon the satisfaction of the foregoing conditions precedent, (i) Lender shall effect the release of the Substituted Property from the Lien of the Loan Documents (or to the extent so requested by Borrower, assign the Lien, or any portion hereof, to a new lender), (ii) the Substitute Property shall be deemed to be an Individual Property for all purposes under this Agreement and the other Loan Documents, (iii) the Substitute Property Borrower shall be deemed to be a Borrower for all purposes under this Agreement and the other Loan Documents, (iv) the Allocated Loan Amount of the Substitute Property shall be equal to the Allocated Loan Amount of the Substituted Property (as it may have been adjusted pursuant to the terms hereof) (and, if there is more than one Substitute Property, the Allocated Loan Amount of the Substituted Property shall be allocable to each such Substitute Property on a pro rata basis according to the appraised value thereof) and (v) the related Individual Borrower (and, if applicable, Maryland Owner) shall be released of all of its obligations and liabilities under the Loan Documents (other than those obligations and liabilities expressly stated to survive payment in full of the Indebtedness) (such date, the “Substitution Effective Date”).
Sample 1

Related to Effectiveness of Substitution

  • Effectiveness of the Contract This contract shall come into force on the date when it is signed with official seals by the legal representatives, responsible persons or authorized signers of both parties. This contract is made in duplicate with the same legal effect, one for each party. Borrower: Shengfeng Logistics Group Co., Ltd. Authorized signature: /s/ Xxx Xxxxxx July 16, 2021 Lender: Bank of China Limited Fuzhou Jin’an Sub-branch Authorized signature: /s/ Xxxx Xx July 16, 2021

  • Effectiveness of Amendments The amendments contained in this Amendment shall become effective upon delivery by the Borrower of, and compliance by the Borrower with, the following:

  • Effectiveness of Lease The Lease is in full force and effect, has not been modified, and constitutes the entire agreement between Landlord and Tenant relating to Tenant’s Premises. Tenant has no interest in Landlord’s Premises except pursuant to the Lease. No unfulfilled conditions exist to Tenant’s obligations under the Lease.

  • 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 Contract This Contract shall come into effect on the date the Contract is signed by both parties or such other later date as maybe stated in the SCC.

  • Effectiveness of Amendment (a) This Amendment shall become effective as of the date first written above.

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

  • Effectiveness of Registration The Registration Statement, any Rule 462 Registration Statement and any post-effective amendment thereto have been declared effective by the Commission under the Act or have become effective pursuant to Rule 462 of the Rules and Regulations. The Company has responded to all requests, if any, of the Commission for additional or supplemental information. No stop order suspending the effectiveness of the Registration Statement or any Rule 462 Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are threatened by the Commission.

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

  • Effectiveness of Assignments Subject to acceptance and recording thereof pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.12, 2.13, 2.14 and 9.03 with respect to facts and circumstances occurring prior to the effective date of such assignment). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (f) of this Section.

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