Common use of Agreement Effectiveness Clause in Contracts

Agreement Effectiveness. This Agreement shall be deemed effective on the date on which each of the following conditions has been satisfied (the “Effective Date”): (A) the execution and delivery of this Agreement by the parties hereto; and (B) the Agent shall have received the documents identified in Section 4(o)(W), Section 4(o)(X), Section 4(o)(Y) and Section 4(o)(Z), with the understanding that the form and substance of (a) the legal opinions required by Section 4(o)(W) shall be in the form contained in Exhibits B-1 through B-3, and (b) the comfort letter required by Section 4(o)(X) shall be in the form agreed to as of the Effective Date. The Effective Date must occur prior to the delivery of any Issuance Notice by the Company and the efforts by the Agent to place any Shares.

Appears in 2 contracts

Samples: Open Market Sale Agreement (General Maritime Corp / MI), Open Market Sale Agreement (General Maritime Corp / MI)

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Agreement Effectiveness. This Agreement shall be deemed effective on the date on which each of the following conditions has been satisfied (the “Effective Date”): (Ai) the execution and delivery of this Agreement by the parties hereto; and (Bii) the Agent shall have received the documents identified in Section 4(o)(WSections 4.13(w), Section 4(o)(X4.13(x), Section 4(o)(Y4.13(y) and Section 4(o)(Z4.13(z), with the understanding that the form and substance of (aA) the legal opinions required by Section 4(o)(W4.13(w) shall be in the form forms contained in Exhibits B-1 B through B-3E, and (bB) the comfort letter letters required by Section 4(o)(X4.13(x) shall be in the form agreed to as of the Effective Date. The Effective Date must occur prior to the delivery of any Issuance Notice by the Company and the efforts by the Agent to place any Shares.

Appears in 2 contracts

Samples: Open Market Sale Agreement (Ener1 Inc), Open Market Sale Agreement (Ener1 Inc)

Agreement Effectiveness. This Agreement shall be deemed effective on the date on which each of the following conditions has been satisfied (the “Effective Date”): (A) the execution and delivery of this Agreement by the parties hereto; and (B) the Agent shall have received the documents identified in Section ýSection 4(o)(W), Section ýSection 4(o)(X), Section ýSection 4(o)(Y) and Section ýSection 4(o)(Z), with the understanding that the form and substance of (a) the legal opinions opinion and negative assurance letter required by Section ýSection 4(o)(W) shall be in the form contained in Exhibits B-1 through B-3and substance reasonably satisfactory to the Agent, and (b) the comfort letter required by Section ýSection 4(o)(X) shall be in the form agreed to as of the Effective Date. The Effective Date must occur prior to the delivery of any Issuance Notice by the Company and the efforts by the Agent to place any Shares.

Appears in 1 contract

Samples: Open Market Sale Agreement (Gladstone Commercial Corp)

Agreement Effectiveness. This Agreement shall be deemed effective on the date on which each of the following conditions has been satisfied (the “Effective Date”): (A) the execution and delivery of this Agreement by the parties hereto; and (B) the Agent shall have received the documents identified in Section 4(o)(W), Section 4(o)(X), Section 4(o)(Y) and Section 4(o)(Z), with the understanding that the form and substance of (a) the legal opinions opinion required by Section 4(o)(W) shall be in the form contained in Exhibits B-1 through B-3Exhibit B, and (b) the comfort letter required by Section 4(o)(X) shall be in the form agreed to as of the Effective Date. The Effective Date must occur and the Agent, in its sole discretion, must have satisfied its initial diligence requirement as set forth in Section 4(m)(i) prior to the delivery of any Issuance Notice by the Company and the efforts by the Agent to place any Shares.

Appears in 1 contract

Samples: Open Market Sale Agreement (Olympic Steel Inc)

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Agreement Effectiveness. This Agreement shall be deemed effective on the date on which each of the following conditions has been satisfied (the “Effective Date”): (A) the execution and delivery of this Agreement by the parties hereto; and (B) the Agent shall have received the documents identified in Section 4(o)(W), Section 4(o)(X), Section 4(o)(Y) and Section 4(o)(Z), with the understanding that the form and substance of (a) the legal opinions opinion required by Section 4(o)(W) shall be in the form contained in Exhibits B-1 through B-3, and (b) the comfort letter required by Section 4(o)(X) shall be in the form agreed to as of the Effective Date. The Effective Date must occur and the Agent, in its sole discretion, must have satisfied its initial diligence requirement as set forth in Section 4(m)(i) prior to the delivery of any Issuance Notice by the Company and the efforts by the Agent to place any Shares.

Appears in 1 contract

Samples: Open Market Sale Agreement (Olympic Steel Inc)

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