Common use of Settlement Effective Date Clause in Contracts

Settlement Effective Date. The “Settlement Effective Date” shall occur on the first day on which all of the Required Approvals with respect to this Agreement and the Initial Implementing Agreements have been entered, issued or otherwise obtained and are in full force and effect and not then stayed, notwithstanding that a request for stay, rehearing or appeal may then be pending as to one or more of the Required Approvals; provided, however, that the First Wraparound Agreement shall be effective upon its execution to the maximum extent permitted by applicable law.

Settlement Effective Date. The “Settlement Effective Date” shall occur on the first day on which all latest of the dates that the Required Approvals with respect to this Agreement and the Initial Implementing Agreements (as defined in Section 10.1) have been entered, issued issued, or otherwise obtained and are in full force and effect and not then stayed, notwithstanding that a request for stay, rehearing rehearing, or appeal may then be pending as to one or more of the Required Approvals; provided, however, that the First Wraparound Agreement shall be effective upon its execution to the maximum extent permitted by applicable lawpending.