Agreement Effective Date; Conditions to Effectiveness. (a) This Agreement shall become effective and binding upon each of the Parties immediately following the occurrence of the conditions set forth in clause (b) of this Section 2 in accordance with the terms thereof (the “Agreement Effective Date”).
Agreement Effective Date; Conditions to Effectiveness. This Agreement shall become effective and binding upon each of the Parties immediately following the execution by each of the Quiksilver Entities and the Plan Sponsor (the “Effective Date”). Upon the Effective Date, this Agreement shall be deemed effective, and thereafter the terms and conditions therein may only be amended, modified, waived, or otherwise supplemented as set forth in Section 6 herein.
Agreement Effective Date; Conditions to Effectiveness. This Agreement shall be effective and binding (a) with respect to the Supporting Parties (other than the Committee) immediately upon obtaining the signatures from all Supporting Parties, and (b) with respect to each of the Debtors and the Committee, automatically upon entry of the Approval Order retroactively to the date of this Agreement; provided, however, that this Agreement shall be effective and binding upon each of the Debtors and/or the Committee to the extent permitted by applicable law immediately upon obtaining the signatures from all Parties (the “Effective Date”). The Debtors shall seek and obtain entry of the Approval Order pursuant to Sections 6.01(a) and 6.01(b) hereof. Upon the Effective Date of this Agreement, the Plan Term Sheet shall be deemed effective with respect to the respective Parties for the purposes of this Agreement, and thereafter the terms and conditions therein may only be amended, modified, waived, or otherwise supplemented as set forth in Section 7 herein.
Agreement Effective Date; Conditions to Effectiveness. The Agreement Effective Date shall occur immediately upon: (a) the Company having received executed signature pages for this Agreement from the Required Consenting LINN Lenders and the Required Consenting Xxxxx Lenders (which solely for the Agreement Effective Date must number more than fifty percent (50.0%) of the Lenders under the LINN Credit Agreement and Xxxxx Credit Agreement, respectively), (b) the Administrative Agent (as defined in the LINN Credit Agreement) having received executed signature pages for this Agreement from each of LINN, LAC, and Xxxxx, and (c) the confirmation of receipt by the Administrative Agent of the payment of $350,000,000.00 in immediately available funds pursuant to the Eighth Amendment to the LINN Credit Agreement. Upon the Agreement Effective Date, this Agreement and the Restructuring Term Sheet shall be deemed effective and thereafter the terms and conditions herein may only be amended, modified, waived, or otherwise supplemented as set forth in Section 10 hereof.
