Common use of EXECUTION DATE AND EFFECTIVE DATE Clause in Contracts

EXECUTION DATE AND EFFECTIVE DATE. 2.01 Upon signature of this Agreement (“Execution Date”), the RP shall commence preparations for undertaking its obligations under the terms of this Agreement in preparation for the Effective Date. 2.02 Once the RP has completed its preparatory activities and has commenced performance of its obligations under this Agreement, the RP will notify UNDP and the Project Board. The date of such notification to UNDP and the Project Board shall be the Effective Date and the beginning of the Deliverable(s) Implementation Period indicated in Block 5 of the Face Sheet. 2.03 If this Agreement does not come into effect in accordance with Article 2.02 within 6 months after the Execution Date, this Agreement along with the responsibilities of the Parties hereunder shall terminate, and no payments or reimbursement, if applicable, will be due.