Common use of Condition Precedent to the Effectiveness of this Agreement Clause in Contracts

Condition Precedent to the Effectiveness of this Agreement. This Agreement shall become effective upon the Administrative Agent’s receipt of counterparts of this Agreement executed by the Borrower, the Lenders, the Issuing Lenders and the Administrative Agent (the first date on which the foregoing condition has been satisfied being referred to herein as the “Effective Date”). The Administrative Agent shall promptly notify in writing the Borrower, the Lenders and the Issuing Lenders upon the satisfaction of the condition precedent to the Effective Date.