Requisites to Effectiveness of Sanctions Sample Clauses

Requisites to Effectiveness of Sanctions. Prior to the effectiveness of any sanction hereunder, proof of notice and the invitation to be heard shall be placed in the minutes of the meeting. Such proof shall be deemed adequate if a copy of the notice together with a statement of the date and manner of delivery is entered by the Director, Officer or other individual who delivered such notice. In addition, the notice requirement shall be deemed satisfied if such Owner appears at the meeting. Notwithstanding anything contained in this subsection C. to the contrary, in the event a sanction, fine, charge, penalty or suspension is imposed after a hearing, said sanction, fine, charge, penalty or suspension shall not take effect, or be due and payable, as the case may be, sooner than fifteen days after written notice (i) of the sanction, fine, charge, penalty and/or suspension imposed, and (ii) of the reasons for the action, is provided to the Owner; provided, further that in the event any rights of the Owner are suspended, said suspension shall not alleviate or reduce the Owner’s obligation to pay any or all Assessments.
Sample 1
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Related to Requisites to Effectiveness of Sanctions

  • Conditions to Effectiveness of Extensions Notwithstanding the foregoing, the extension of the Maturity Date pursuant to this Section shall not be effective with respect to any Lender unless:

  • Conditions to Effectiveness of Agreement This Agreement shall become effective on the date (the "Effective Date") each of the following conditions precedent is satisfied:

  • Conditions Precedent to Effectiveness of Section 2.01 Section 2.01 of this Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • Conditions to Effectiveness of Amendment This Amendment shall become effective as of the date hereof, upon the satisfaction of the conditions precedent that:

  • CONDITIONS TO EFFECTIVENESS AND LENDING SECTION 3.01.

  • Conditions Precedent to Effectiveness of Amendment This Amendment shall become effective (the “Amendment Effective Date”) upon satisfaction of each of the following conditions:

  • Conditions to Effectiveness of this Agreement The effectiveness of this Agreement is subject to the satisfaction of the following conditions precedent:

  • Conditions to Effectiveness of Increase As a condition precedent to such increase, the Company shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the case of the Company, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.14, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, (B) no Default exists and (C) no Floorplan Default exists. The Company shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section.

  • Conditions Precedent to Effectiveness of Agreement Each of the following is a condition precedent to the effectiveness of this Agreement:

  • Conditions to Effectiveness of this Amendment This Amendment shall become effective as of the date hereof, upon the satisfaction of the conditions precedent that:

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