Effectiveness of this Amendment Sample Clauses
The "Effectiveness of this Amendment" clause defines when and how an amendment to an existing agreement becomes legally binding and enforceable. Typically, this clause specifies that the amendment takes effect upon a certain date or upon the occurrence of specific conditions, such as the execution by all parties involved. For example, it may state that the changes outlined in the amendment are not valid until all signatories have provided their consent. The core practical function of this clause is to ensure clarity and certainty regarding the timing and conditions under which the amendment is operative, thereby preventing disputes about when the modified terms apply.
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Effectiveness of this Amendment. The following shall have occurred before this Amendment is effective:
Effectiveness of this Amendment. This Amendment is executed pursuant to the first sentence of Section 27 of the Original Rights Agreement. The Company, by its execution of this Amendment, hereby directs the Rights Agent, pursuant to such sentence of Section 27, to execute this Amendment. This Amendment shall take effect immediately upon the execution hereof by the Company and the Rights Agent and the delivery of the certificate required pursuant to Section 27 of the Original Rights Agreement.
Effectiveness of this Amendment. The effectiveness of this Amendment is subject to the following conditions precedent:
Effectiveness of this Amendment. Agent must have received the following items, in form and content acceptable to Agent, before this Amendment is effective.
Effectiveness of this Amendment. The Lender and the Borrowers agree that the terms of this Amendment shall not be effective (and the Lender shall have no obligations under this Amendment) unless and until all of the following conditions have either been fulfilled in a manner satisfactory to the Lender or waived in writing by the Lender:
(A) The Lender shall have received all items on the List of Closing Documents attached hereto and made a part hereof as EXHIBIT P-1 (deliveries required for the Grogan's Transaction and this Amendment), such items to be i▇ ▇▇▇▇ ▇nd substance satisfactory to the Lender, and to be executed by all parties thereto when the nature of such items so requires.
(B) The Borrowers shall have paid to the Lender all costs and expenses incurred as of the date hereof in connection with this Agreement and the other documents and instruments executed in connection herewith or contemplated by the terms hereof (collectively, the "Amendment Documents") or otherwise in connection with the Loan which the Borrowers are obligated to pay pursuant to the terms of Section 12.7 of the Loan Agreement.
(C) All proceedings taken in connection with the execution of this Amendment, all other Amendment Documents, and all documents and papers relating thereto shall be satisfactory to the Lender. The Lender shall have received copies of such documents and papers as the Lender may reasonably request in connection therewith, all in form and substance satisfactory to the Lender.
(D) The Lender shall have received a certificate dated as of the date hereof and signed by the chairman, vice chairman or chief executive officer and the chief financial officer or treasurer of each Borrower certifying that the conditions specified in this Section 5 have been fulfilled.
(E) The Borrowers shall have provided to the Lender updated and corrected Schedules in form and substance satisfactory to the Lender which shall be substituted for the Schedules attached to the Original Loan Agreement.
(F) The Borrowers shall have paid to the Lender a closing fee in the amount of $35,000 in connection with the Lender's agreement (i) to increase the amount of the Revolving Credit Commitment, (ii) to fund the Grogan's Term Loan and (iii) to fund the Arizona Term Loan.
(G) The Borrowers shall have duly executed and delivered to the Lender a promissory note, substantially in the form of EXHIBIT R attached hereto and made a part hereof (as the same has been or may be amended, modified, extended, and renewed from time to time,...
Effectiveness of this Amendment. The provisions of this Amendment shall be subject to the satisfaction of the conditions to effectiveness set forth in Section 4 of this Amendment.
Effectiveness of this Amendment. This Amendment shall become effective upon the satisfaction of each of the following conditions:
Effectiveness of this Amendment. The following conditions shall have been satisfied, as determined by Agent, before this Amendment is effective (the date of such effectiveness, the “Effective Date”):
(a) Agent shall have received this Amendment, fully executed by each Credit Party, Agent and each Lender.
(b) Agent shall have received a closing certificate signed by an Authorized Officer of each Credit Party dated as of the Effective Date stating that each of the representations and warranties set forth in Section 3 of this Amendment are true and correct on such date.
(c) Agent shall have received a certificate of an Authorized Officer of each Credit Party dated as of the Effective Date certifying (i) to the effect that (A) attached thereto is a true and complete copy of the Organizational Documents of such Credit Party certified as of a recent date by the Secretary of State of the state of its organization, or in the alternative, certifying that such Organizational Documents have not been amended since the Closing Date, (B) attached thereto is a true and complete copy of resolutions duly adopted by the board of directors, board of managers or member, as the case may be, of each Credit Party authorizing the execution, delivery and performance of this Amendment, and that such resolutions have not been modified, rescinded or amended, and there are no plans to modify rescind or amend, and that such resolutions are in full force and effect or in the alternative, certifying that the resolutions delivered to the Agent on the Closing Date by such Credit Party have not been modified, rescinded or amended, and there are no plans to modify rescind or amend, and that such previously delivered resolutions are in full force and effect and (C) attached thereto is a true and complete copy of the good standing certificates for each Credit Party dated not more than thirty (30) days prior to the Effective Date, issued by the Secretary of State or other appropriate official of each Credit Party’s jurisdiction of organization and (ii) as to the incumbency and specimen signature of each Authorized Officer executing this Amendment and any Other Document on behalf of any Credit Party and signed by another officer as to the incumbency and specimen signature of the Authorized Officer executing the certificate pursuant to this clause.
(d) The Parent Guarantor shall have paid to the Agent for the account of each Lender party hereto, a consent fee equal to 0.50% of such Lender’s Commitment as of the date hereof (afte...
Effectiveness of this Amendment. Each of the following is a condition precedent to the effectiveness of this Amendment and to the Bank’s obligation to extend any credit to Borrower as provided for by this Amendment:
Effectiveness of this Amendment. The effectiveness of this Amendment, and the waivers provided herein, are conditioned upon the occurrence of each of the following: