Common use of Execution Date; Effective Date Clause in Contracts

Execution Date; Effective Date. Notwithstanding any provision in this Agreement that may be interpreted or construed to the contrary, (a) the Parties shall neither be bound by the terms and conditions of this Agreement nor shall this Agreement have any force and effect unless and until: (i) each Party shall have executed and delivered this Agreement, the Amendment to the Site Lease, in form and substance attached hereto as Exhibit A, and the Amendment to the Operating Lease, in form and substance attached hereto as Exhibit B, in each case, to the other Parties hereto; (ii) the Company has delivered to the Jurisdictions the Guaranty, in form and substance attached hereto as Exhibit D (the “Guaranty”), duly executed by Covanta Holding Corporation, a Delaware corporation and the parent company of the Company (the “Guarantor”), and delivered to the Jurisdictions, and (b) the obligations of the Parties under this Agreement shall not begin until the Effective Date.