Common use of Effective Date Clause in Contracts

Effective Date. This Contract shall enter into force (“Effective Date”) upon confirmation by the Bank to the Borrower that it has received a copy of the Official Gazette of the Republic of Serbia publishing the law on ratification of this Contract by the Parliament of the Republic of Serbia. The Effective Date shall not occur later than 12 (twelve) months after the signing of this Contract.

Effective Date. This Contract shall enter into force (“Effective Date”) upon confirmation by the Bank to the Borrower that it has received a copy of the Official Gazette of the Republic of Serbia publishing the law on ratification of this Contract by the Parliament of the Republic of Serbia. The Effective Date shall not occur later than 12 (twelve) months after the signing of this Contract. Where the Effective Date does not occur within 12 (twelve) months starting from the Signing Date, this Agreement shall be deemed as automatically and definitively not effective.