Common use of Effective Date Clause in Contracts

Effective Date. The amendments set out in this Agreement will take effect on and from the date on which the Agent notifies the Borrower that all the conditions precedent listed in Schedule 1 have been fulfilled to its satisfaction (acting on the instructions of all Lenders and MIGA) (the "Effective Date"). If the Effective Date does not occur within 60 days of the date of this Agreement (or such later date agreed by the Agent) the amendments will not take effect.

Effective Date. The amendments set out in this Agreement will take effect on and from the date on which the Agent notifies the Borrower that all the conditions precedent listed in Schedule 1 have been fulfilled to its satisfaction (acting on the instructions of all Lenders and MIGA) (the "“Effective Date"”). If the Effective Date does not occur within 60 days of the date of this Agreement (or such later date agreed by the Agent) the amendments will not take effect.