Effectiveness of this Amendment Sample Clauses
The "Effectiveness of this Amendment" clause defines when and how an amendment to an existing agreement becomes legally binding and enforceable. Typically, this clause specifies that the amendment takes effect upon a certain date or upon the occurrence of specific conditions, such as the execution by all parties involved. For example, it may state that the changes outlined in the amendment are not valid until all signatories have provided their consent. The core practical function of this clause is to ensure clarity and certainty regarding the timing and conditions under which the amendment is operative, thereby preventing disputes about when the modified terms apply.
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Effectiveness of this Amendment. The following shall have occurred before this Amendment is effective:
Effectiveness of this Amendment. The effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent:
Effectiveness of this Amendment. This Amendment shall become effective upon the satisfaction, as determined by L▇▇▇▇▇, of the following conditions.
Effectiveness of this Amendment. Agent must have received the following items, in form and content acceptable to Agent, before this Amendment is effective.
Effectiveness of this Amendment. The provisions of this Amendment shall be subject to the satisfaction of the conditions to effectiveness set forth in Section 4 of this Amendment.
Effectiveness of this Amendment. The effectiveness of this Amendment is subject to the following conditions precedent:
(a) Lender shall have received this Amendment, fully executed in a sufficient number of counterparts for distribution to all parties.
(b) Lender shall have received such documents as Lender may require to establish that it has a valid, perfected and first priority security interest in the Collateral.
(c) Lender shall have received a secretary certificate from Image/Madacy and such other documents as Lender may require with respect to the organization, existence, good standing, power and authority of Image/Madacy.
(d) Lender shall have received evidence of insurance and loss payable endorsements with respect to the insurance policies of Image/Madacy.
(e) Lender shall have received a favorable opinion letter of counsel to Image/Madacy with respect to the transactions contemplated hereby.
(f) Lender shall have received (i) a Bailee Agreement; (ii) an Intercreditor Agreement; and (iii) a Non-Offset Letter, in each case, duly executed by Sony DADC US Inc. d/b/a Sony DADC Americas, and in each case, in form and substance satisfactory to Lender.
(g) Lender shall have received Deposit Account Control Agreements by and among Agent, Image/Madacy and each bank where Image/Madacy has a deposit account, in each case, duly authorized, executed and delivered by such bank and Image/Madacy.
(h) The representations and warranties set forth herein and in the Loan Agreement shall be true and correct.
(i) All other documents and legal matters in connection with the transactions contemplated by this Amendment shall have been delivered or executed or recorded and shall be in form and substance satisfactory to Lender.
Effectiveness of this Amendment. The following conditions shall have been satisfied, as determined by Agent, before this Amendment is effective (the date of such effectiveness, the “Effective Date”):
(a) Agent shall have received this Amendment, fully executed by each Credit Party, Agent and Lenders constituting Required Lenders.
(b) With respect to each Mortgage, Agent shall have received:
(i) written confirmation, in form and substance reasonably satisfactory to the Agent, from local counsel in the jurisdiction in which the Real Property is located substantially to the effect that:
(A) the recording of the existing Mortgage is the only filing or recording necessary to give constructive notice to third parties of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement and the Other Documents, for the benefit of the Secured Parties; and
(B) no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law in order to maintain the continued enforceability, validity or priority of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement and the Other Documents, for the benefit of the Secured Parties; and
(ii) a title search to the applicable Real Property encumbered by a Mortgage demonstrating that such real property is free and clear of all Liens (except Permitted Encumbrances).
(c) Agent shall have received a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each improved Real Property that is subject to a Mortgage (together with a notice about special flood hazard area status and flood disaster assistance duly executed by each Borrower and each Credit Party relating thereto, as may be required) and, with respect to any Real Property that is subject to a Mortgage on which any “building” (as defined in the Flood Laws, defined in the Credit Agreement) is located in a special flood hazard area, evidence of flood insurance as and to the extent required under the Credit Agreement.
(d) Agent shall have received, in form and substance reasonably satisfactory to Agent, certificates evidencing the Credit Parties’ casualty insurance policies, together with loss payable endorsements on Agent’s standard form of lender loss payee...
Effectiveness of this Amendment. This Amendment is executed pursuant to the first sentence of Section 27 of the Original Rights Agreement. The Company, by its execution of this Amendment, hereby directs the Rights Agent, pursuant to such sentence of Section 27, to execute this Amendment. This Amendment shall take effect immediately upon the execution hereof by the Company and the Rights Agent and the delivery of the certificate required pursuant to Section 27 of the Original Rights Agreement.
Effectiveness of this Amendment. The provisions of this Amendment shall be effective as of the date hereof.
Effectiveness of this Amendment. Each of the following is a condition precedent to the effectiveness of this Amendment and to the Bank’s obligation to extend any credit to Borrower as provided for by this Amendment: