Effectiveness of this Waiver. The effectiveness of this Waiver is subject to the satisfaction of the following conditions:
Effectiveness of this Waiver. This Waiver shall become effective on the date (the “Waiver Effective Date”) when DOE (i) shall have received copies of all board, stockholder and other corporate approvals of the Obligors required for this Waiver, (ii) shall have received duly executed counterparts hereof that bear the signatures of Borrower and any other Obligor appearing on the signature page hereof (it being agreed that the receipt of duly executed counterparts delivered by facsimile or electronic transmission in Electronic Format shall be sufficient to satisfy the requirements of this clause (ii)), and (iii) shall have executed this Waiver.
Effectiveness of this Waiver. This Waiver shall become effective and binding on each Party on the date (such date, the “Waiver Effective Date”) counsel to the parties hereto have received signature pages hereto signed by the Consenting Lenders constituting Majority Consenting Lenders.
Effectiveness of this Waiver. This Waiver shall have no force or effect until immediately prior to the Effective Time (as defined in the Merger Agreement).
Effectiveness of this Waiver. Sections 1, 2, 3 and 4 of this Waiver shall be effective solely if Market Hub Partners Storage, L.P. and Market Hub Partners Finance, Inc. shall have sold at least $110,000,000 (but not more than $115,000,000) in aggregate principal amount of debt securities (such securities, the "Rule 144A Securities") having a rating at the time of issuance of not less than BB- by Standard and Poor's Rating Group ("S&P") and Ba3 by Moody's Investors Service ("Moodys") (and no other rating agency shall xxxx xated such Rule 144A Securities less favorably) in a private offering effected under Rule 144A under the Securities Act on or before March 31, 1998; PROVIDED, if as of the date of issuance, the Rule 144A Securities shall have been rated less than BB- by S&P or Ba3 by Moodys, Sections 1, 2, 3 and 4 of this Waiver shall nonetheless be effective if at the time of issuance of the Rule 144A Securities the Notes shall have been rated at least B- by S&P or B3 by Moodys (and no rating agency shall have rated the Notes less favorably). Nothing in this Section 6 shall constitute a waiver by the Purchasers of compliance by the Company with any covenant set forth in the Agreement (as the same is amended pursuant to this Waiver) in connection with the issuance of the Rule 144A Securities.
