Amendment; Effective Time; Term Clause Samples

Amendment; Effective Time; Term. This Agreement amends and restates in its entirety the 1994 Settlement Agreement. This Agreement shall be effective and binding on the Parties hereto as of the date hereof, except that Sections 2 and 3 of this Agreement shall automatically and immediately become effective at, and not before, the Effective Time. Notwithstanding any other provision of this Agreement, if the Merger Agreement is terminated prior to its Effective Time, this Agreement shall terminate, shall have no force or effect, and shall be null and void. In addition, effective as of the Effective Time, the Letters of Understanding shall terminate and be of no further force or effect.