Common use of Conditions Precedent and Effective Date Clause in Contracts

Conditions Precedent and Effective Date. (a) On the date of execution of this Agreement by the Parties, only Article I (Definitions; Rules of Interpretation), this Section 2.1, Section 2.3, Article XIII (Representations and Warranties) and Article XIX (Miscellaneous Provisions) shall become effective. (b) In connection with the issuance of the Letter of Support, the Seller has delivered or has caused to be delivered the Performance Guarantee to the AEDB. (c) On the date on which notice from AEDB of the occurrence of the Financial Closing is received by the Purchaser, this Agreement shall become effective in its entirely (the “Effective Date”). (d) The Seller shall use its reasonable endeavors to cause the occurrence of Financial Closing by the date required in the Letter of Support. Before notice of the Financial Closing is received by the Purchaser from AEDB, the Seller shall deliver to the Purchaser the Seller Letter of Credit in a form which is reasonably acceptable to the Purchaser. The Purchaser shall notify AEDB confirming receipt and acceptance of the Seller Letter of Credit. (e) If the Seller Letter of Credit is not received by the Purchaser in the form required herein and issued by a bank reasonably acceptable to the Purchaser by the date required for the Financial Closing in the Letter of Support, as such date may be extended by AEDB in accordance with the Letter of Support, the Purchaser may deliver written notice to the Seller terminating this Agreement, which termination shall be effective immediately on delivery of such notice. From the date of such termination, the Parties shall have no further rights against each other and shall be released from all further obligations under this Agreement, subject to any rights and obligations that may have accrued before the date of such termination.

Conditions Precedent and Effective Date. (a) On the date of execution of this Agreement by the Parties, only the following shall become effective: (i) Article I I, (Definitions; Rules of Interpretation), ii) this Section 2.1, , (iii) Section 2.3, (iv) Article XIII, and (v) Article XIII (Representations and Warranties) and Article XIX (Miscellaneous Provisions) shall become effectiveXIX. (b) In connection with the issuance of the Letter of SupportSupport by AEDB, the Seller has delivered or has caused to be delivered to AEDB, the Performance Guarantee to the AEDBGuarantee. (c) On the date on which notice from AEDB (acting on behalf of the GOP) of the occurrence of the Financial Closing is received by the Purchaser, this Agreement shall become effective in its entirely entirety (the “"Effective Date”"). (d) The Seller shall use its reasonable endeavors endeavours to cause the occurrence of Financial Closing by the date required in the Letter of Support. Before notice of the Financial Closing is received by the Purchaser from AEDBAEDB (acting on behalf of the GOP), the Seller shall deliver to the Purchaser the Seller Letter of Credit in a form which is reasonably acceptable to the Purchaser. The Purchaser shall notify AEDB confirming receipt and acceptance of the Seller Letter of Credit. (e) If the Seller Letter of Credit is not received by the Purchaser in the a form required herein and issued by a bank which is reasonably acceptable to the Purchaser Purchaser, by the date required for the Financial Closing in the Letter of Support, Support as such date may be extended by the AEDB in accordance with the Letter of Support, the Purchaser may deliver written notice to the Seller terminating this Agreement, which termination shall be effective immediately on the date of delivery of such notice. From the date of such termination, the Parties shall have no further rights against each other and shall be released from all further obligations under this Agreement, subject to any rights and obligations that may have accrued before the date of such termination.