Time of Effectiveness. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Article VIII will become effective upon acceptance of appointment by the successor Trustee as provided in Section 8.07, and in no event will such resignation or removal become effective until a successor Trustee has been appointed and has accepted the duties of the Trustee.
Time of Effectiveness. The Transferor Partners acknowledge and agree that this Agreement and the agreements attached as Exhibits hereto will not be binding and effective unless and until all of the parties hereto and thereto have executed counterparts to such agreements and, to the extent that any agreements or documents relating to this Agreement (such as partnership assignments or other similar closing documents) are executed prior to the Closing, the Transferor Agent is authorized on behalf of each Transferor Partner to hold all such agreements in escrow pending the Closing, at which time the Transferor Agent shall be authorized to deliver such documents on behalf of the Transferor Partners to the BRI Partnership.
Time of Effectiveness. Unless otherwise provided, this Agreement shall take effect when all the following events have occurred:
Time of Effectiveness. The Initial Term of this Contract shall begin on the date of full execution of this Contract and shall expire on December 31, 2032 (Initial Term) unless terminated as provided under Article 8. The City, at its sole discretion, may grant up to two (2), five (5) year extensions. The City reserves the sole right to renew the Contract for the five-year periods which will begin at the end of the Initial Term. Granting of the second five-year option is not guaranteed by the granting of the first five-year option. Unless otherwise provided, this Contract shall take effect when all of the following events have occurred: