Operative Documents in Effect Sample Clauses
The "Operative Documents in Effect" clause establishes that all key agreements and documents relevant to a transaction must be valid, binding, and actively enforceable at a specified point in time, typically at closing. This clause ensures that documents such as loan agreements, security instruments, or partnership contracts are not only executed but also remain in full force without amendments or terminations that could affect the parties' rights or obligations. Its core practical function is to provide certainty and legal assurance that the foundational documents governing the transaction are intact and enforceable, thereby reducing the risk of disputes or unenforceable terms.
Operative Documents in Effect. Each Credit Document and Major Project Document shall be in full force and effect in accordance with its terms (except for any Major Project Document that has expired or been terminated in accordance with the terms thereof) and, if applicable, the terms of the Consent Agreement with respect to such Major Project Document.
Operative Documents in Effect. Each Credit Document, and if the proceeds of the requested Working Capital Loan are to be used to make progress payments in respect of any Approved Turbine, or otherwise acquire any Approved Turbine or Material Asset, as the case may be, the relevant Turbine Purchase Contract or Material Asset Purchase Contract, as the case may be, remains in full force and effect in accordance with its terms and no material defaults have occurred thereunder.
Operative Documents in Effect. Each Credit Document and each relevant Major Maintenance Document remains in full force and effect in accordance with its terms and no material defaults have occurred thereunder.