Effective Upon Notice Clause Samples
The 'Effective Upon Notice' clause establishes that a particular agreement, amendment, or action becomes legally binding as soon as one party provides formal notification to the other. In practice, this means that the terms outlined in the notice take effect immediately upon delivery, regardless of whether the recipient acknowledges or responds to the notice. This clause ensures clarity and certainty regarding when obligations or changes commence, preventing disputes about the timing of enforceability.
Effective Upon Notice. Promptly following any redetermination of the Borrowing Base, Agent shall notify in writing Borrower and the Lenders of the new Borrowing Base and/or Monthly Reduction Amount. Any such redetermination of the Borrowing Base and/or Monthly Reduction Amount shall not be effective until Borrower receives written notice thereof.
Effective Upon Notice. Administrative Agent shall promptly notify in writing Borrower and the Lenders of the new Borrowing Base and/or Monthly Reduction Amount. Any redetermination of the Borrowing Base and/or Monthly Reduction Amount shall not be in effect until written notice is received by Borrower.
Effective Upon Notice. This document and its provisions hereby supersede and replace any and all prior agreements between the parties. The parties agree that this agreement is the only agreement between the parties and that there are no other representations, terms, conditions or warranties other than those which are contained within this written agreement. Beehive shall post the terms of this agreement on its website at: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.
Effective Upon Notice to the Grantors and the Sub-Agent from the Collateral Agent after the occurrence and during the continuance of any Event of Default, the Collection Deposit Account shall be under the sole dominion and control of the Collateral Agent, who shall possess all right, title and interest in all of the items from time to time in the Collection Deposit Account and their Proceeds. Effective upon such notice, the Sub-Agent shall be the Collateral Agent's agent for the purpose of holding and collecting such items and their Proceeds, and neither the Grantor nor any person or entity claiming by, through or under the Grantor shall have any right, title or interest in, or control over the use of, or any right to withdraw any amount from, the Collection Deposit Account, except that the Collateral Agent shall have the right to withdraw amounts from the Collection Deposit Account. Effective upon such notice, the Sub-Agent shall be entitled to rely on, and shall act in accordance with, all instructions given to it by the Collateral Agent with respect to the Collection Deposit Account. Effective upon such notice, the Collateral Agent shall have the sole power to agree with the Sub-Agent as to specifications for Account services.
Effective Upon Notice to the Grantors from the Collateral Agent after the occurrence and during the continuance of an Event of Default, without the prior written consent of the Collateral Agent, no Grantor shall, in a manner adverse to the Lenders, change the general instructions given to Account Debtors in respect of payment on Accounts to be deposited in the Lockbox System. Until the Collateral Agent shall have advised the Grantors to the contrary, each Grantor shall, and the Collateral Agent hereby authorizes each Grantor to, enforce and collect all amounts owing on the Accounts, Inventory and Assigned Contracts, for the benefit and on behalf of the Collateral Agent and the other Secured Parties; provided, however, that such -------- ------- privilege may at the option of the Collateral Agent be terminated upon the occurrence and during the continuance of any Event of Default.