Common use of Effectiveness of Waiver Clause in Contracts

Effectiveness of Waiver. This Waiver shall become effective as of the date first written above upon receipt by the Agent of (i) original counterparts of this Waiver duly executed by the Borrower, the Guarantors and the Required Banks, (ii) payment to the Agent for the account of the Banks of a non-refundable waiver fee in the amount of $25,000 and (iii) payment of the Agent's legal fees and expenses.

Effectiveness of Waiver. This Waiver shall become effective as of the date first written above upon receipt by the Agent of (i) original counterparts of this Waiver duly executed by the Borrower, the Guarantors and the Required Banks, (ii) payment to the Agent for the account of the Banks of a non-refundable waiver fee in the amount of $25,000 50,000 and (iii) payment of the Agent's legal fees and expenses.