Common use of Effectiveness; Operativeness Clause in Contracts

Effectiveness; Operativeness. This Second Supplemental Indenture shall become effective and binding upon the Company, the Guarantors, the Trustee and the holders of Securities immediately upon its execution and delivery by the parties hereto and shall become operative on and simultaneously with written notification to the Trustee by the Company that it has purchased pursuant to the Tender Offer all Securities validly tendered pursuant to the Tender Offer and not validly withdrawn prior to the expiration of the Tender Offer. In the event that the Tender Offer and Consent Solicitation are terminated or withdrawn, this Second Supplemental Indenture shall be null and void.

Appears in 2 contracts

Sources: Second Supplemental Indenture (General Maritime Corp/), Second Supplemental Indenture (General Maritime Corp/)