Interim Effect Clause Samples
The 'Interim Effect' clause establishes that certain terms or obligations of an agreement become effective immediately upon signing, even before the entire contract is fully executed or all conditions are met. For example, it may specify that confidentiality, exclusivity, or payment provisions apply during the negotiation or pre-closing period. This clause ensures that key protections or responsibilities are in place during transitional phases, thereby safeguarding the interests of the parties and preventing potential disputes or losses before the contract is fully in force.
Interim Effect. Between the passing of the Deed Company’s Section 65 Resolution and the Commencement Date, insofar as a person would be bound by this Deed if this Deed had already been signed and become effective that person may not, without the consent of the Deed Administrators or the leave of the Court, at any time on or after the Section 65 Resolution, but before the Commencement Date:
(a) undertake any actions inconsistent with this Deed or the LTD DOCA; or
(b) in relation to any Deed Company Claim, undertake any actions set out at clause 4.2 (Deed Moratorium).
Interim Effect. Insofar as a person would be bound by the Deed if it had already been executed, the person must not, at any time on or after the Section 439C Resolution, but before the Deed is executed:
2.2.1 do anything inconsistent with the Deed except with the leave of the Court; or
2.2.2 do any of the following:
2.2.2.1 make an application for an order to wind up the Company;
2.2.2.2 proceed with such an application made before the Deed became binding on the person;
2.2.2.3 begin or proceed with a proceeding against the Company or in relation to any of its property except with the leave of the Court and in accordance with such terms (if any) as the Court imposes; or
2.2.2.4 begin or proceed with enforcement process in relation to property of the Company except with the leave of the Court and in accordance with such terms (if any) as the Court imposes.