Subsequent Effective Date Clause Samples
The "Subsequent Effective Date" clause defines the point in time when certain terms, obligations, or provisions of an agreement become operative after the initial effective date. Typically, this clause is used when specific sections of a contract are intended to take effect at a later date, such as upon the occurrence of a triggering event, the completion of a milestone, or the satisfaction of certain conditions. By clearly specifying when these later provisions become binding, the clause ensures that both parties understand the timeline for their respective responsibilities and helps prevent disputes over when obligations commence.
Subsequent Effective Date. On any Subsequent Effective Date and prior to the Lenders making any Loans to any Borrowing Subsidiary:
(a) There shall be delivered to the Agent for the benefit of each Lender an Election to Participate from such Borrowing Subsidiary agreeing to be bound by this Agreement as a Borrower (but not as a Guarantor).
(b) The representations and warranties of each of the Loan Parties contained in Section 5.1 shall be true and accurate with respect to such Borrowing Subsidiary on and as of the Subsequent Effective Date with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein); no Event of Default or Potential Default under this Agreement shall have occurred and be continuing or shall exist; and there shall be delivered to the Agent for the benefit of each Lender a certificate of such Borrowing Subsidiary, dated the Subsequent Effective Date and signed by an Authorized Officer of such Borrowing Subsidiary, to each such effect.
(c) There shall be delivered to the Agent for the benefit of each Lender a certificate dated the Subsequent Effective Date and signed by the Secretary or an Assistant Secretary of such Borrowing Subsidiary, certifying as appropriate as to:
(i) all corporate action taken by such Borrowing Subsidiary in connection with this Agreement and the other Loan Documents (which shall include copies of all Board of Directors and stockholder resolutions);
(ii) the names of the officer or officers authorized to sign this Agreement and the other Loan Documents and the true signatures of such officer or officers and specifying the Authorized Officers permitted to act on behalf of such Borrowing Subsidiary for purposes of this Agreement and the true signatures of such officers, on which the Agent and each Lender may conclusively rely; and
(iii) copies of its organizational documents, including its certificate of incorporation and bylaws (or equivalent thereof) as in effect on the Subsequent Effective Date certified by the appropriate government official where such documents are filed in a government office together with certificates from the appropriate government officials as to the continued existence and good standing of such Borrowing Subsidiary in the jurisdiction where organized or where its princip...
Subsequent Effective Date. Each of Seller, the Servicer, the Originator and Buyer hereby provides notice to each of the parties to the Omnibus Amendment that the Subsequent Effective Date shall be deemed to be the date hereof for all purposes of the Omnibus Amendment.
Subsequent Effective Date. On any Subsequent Effective Date and prior to the Lenders making any Loans to any Borrowing Subsidiary:
(a) There shall be delivered to the Agent for the benefit of each Lender an Election to Participate from such Borrowing Subsidiary agreeing to be bound by this Agreement as a Borrower (but not as a Guarantor).
(b) The representations and warranties of each of the Loan Parties contained in Section 5.1 shall be true and accurate with respect to such Borrowing Subsidiary on and as of the Subsequent Effective Date with the same effect as though such representations and warranties had been made on and as of such date (except representations and warranties which relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or
Subsequent Effective Date. If this Agreement does not become effective pursuant to Section 10.1, this Agreement shall become effective if St. Jude/Pacesetter (or its Affiliates) acquires control of Ventritex, Inc. or all or substantially all of the Tachycardia Devices business of Ventritex, Inc. (or its Affiliates) on or before May 31, 1998, and this Agreement shall become effective on and as of the date on which St. Jude/Pacesetter consummates such acquisition.