The "Effective Date" clause specifies the date when the terms of the contract officially commence and become binding for the parties involved. This date is crucial as it marks the start of the contractual obligations and rights, often impacting timelines for performance and enforcement.
This AMENDMENT NO. 5 TO THIRD AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT (this “Amendment”) dated as of December 11, 2019, is entered into among SAExploration, Inc., a Delaware corporation (the “Borrower”), the Guarantors party hereto, each Lender set forth on Schedule A hereto under the heading “Fifth Amendment Effective Date Incremental Lender” (each, a “Fifth Amendment Effective Date Incremental Lender” and, collectively, the “Fifth Amendment Effective Date Incremental Lenders”), the other Lenders party to the Agreement (as defined below) all of which are also parties hereto (such Lenders, collectively, with the Fifth Amendment Effective Date Incremental Lenders, “All Lenders”), and Cantor Fitzgerald Securities, as administrative agent and collateral agent for the Lenders (in such capacities, the “Agent”).
1. Fifth Amendment Effective Date Advance Commitment Request. Notwithstanding anything in the Agreement to the contrary, by delivering its signature hereto: (i) the Borrower hereby requests the issuance of the Fifth Amendment Effective Date Advance Commitments from the Fifth Amendment Effective Date Incremental Lenders in an aggregate principal amount of $5,000,000; and (ii) each of the Fifth Amendment Effective Date Incremental Lenders hereby agrees to issue their respective Fifth Amendment Effective Date Advance Commitments to the Borrower pursuant to the terms and conditions hereof.
2. I. Fifth Amendment Effective Date Advance Commitments and Fifth Amendment Effective Date Advances. a) Notwithstanding anything in the Agreement to the contrary, subject to the occurrence of the Fifth Amendment Effective Date, each Fifth Amendment Effective Date Incremental Lender agrees, severally and not jointly, to make an Advance (each, a “Fifth Amendment Effective Date Advance” and, collectively, the “Fifth Amendment Effective Date Advances”) to the Borrower in an aggregate principal amount equal to the amount set forth opposite such Fifth Amendment Effective Date Incremental Lender’s name on Schedule A hereto (such amount for such Fifth Amendment Effective Date Incremental Lender, its “Fifth Amendment Effective Date Advance Commitment” and all such amounts for all the Fifth Amendment Effective Date Incremental Lenders, collectively, the “Fifth Amendment Effective Date Advance Commitments”, on the terms set forth herein and in the Agreement, as amended hereby, subject to the conditions set forth herein. b) The Fifth Amendment Effective Date Advances shall be deemed to be “Advances” as defined in the Agreement (as amended hereby) for all purposes of the Loan Documents having terms and provisions identical to those applicable to the Advances outstanding on the date hereof immediately prior to the Fifth Amendment Effective Date, except as otherwise set forth in this Amendment. For the avoidance of all doubt: (i) the Maturity Date for the Fifth Amendment Effective Date Advances shall be the Maturity Date applicable to all Advances outstanding on the date hereof immediately prior to the Fifth Amendment Effective Date; and (ii) the Fifth Amendment Effective Date Advances shall bear interest at the Interest Rate(as defined in the Agreement as in effect on the date hereof immediately prior to the Fifth Amendment Effective Date). c) The parties hereto intend that the Fifth Amendment Effective Date Advances shall be remitted to Borrower as a single advance on the Fifth Amendment Effective Date. All payments and prepayments with respect to the Fifth Amendment Effective Date Advances shall be applied as provided in Section 2.4(e) of the Agreement. Amounts repaid or prepaid in respect of the Fifth Amendment Effective Date Advances may not be reborrowed. The Fifth Amendment Effective Date Advance Commitment of each Fifth Amendment Effective Date Incremental Lender shall terminate automatically upon the funding of such Lender’s respective Fifth Amendment Effective Date Advance on the Fifth Amendment Effective Date.
1.35 Effective Date: The date that is the first Business Day on which each condition set forth in Article IX of the Plan has been satisfied or waived as set forth therein.
This MASTER TRANSACTION AGREEMENT (this “Agreement”) is made as of February 2, 2021 (the “Effective Date”), by and between Golden State Licensing, LLC, a Delaware limited liability company (“Purchaser”), and Pacific Gas and Electric Company, a California corporation (“Utility”).
“Administrative Claims Bar Date” means the deadline for Filing requests for payment of Administrative Claims, which: (a) with respect to Administrative Claims other than Professional Fee Claims, shall be thirty (30) days after the Effective Date; and (b) with respect to Professional Fee Claims, shall be forty-five (45) days after the Effective Date.
Effective Date: 05/01/97 Amendments: 11/01/04, 06/01/05
Effective Date: 06/18/10
Effective Date. The Conversion shall become effective upon the date on which the latest of the Florida Articles of Conversion, the Delaware Certificate of Conversion and the Delaware Certificate of Incorporation shall take effect after filing with the Department of State of the State of Florida and the Secretary of State of the State of Delaware, as applicable (such date, the “Effective Date”).
6. Effect of Conversion on Directors and Officers. Upon the Effective Date, by virtue of the Conversion and without any further action on the part of the Corporation or its stockholders, the members of the Board and the officers of the Corporation holding their respective offices in the Corporation existing immediately prior to the effective time shall continue in their respective offices as members of the Board and officers of the Resulting Corporation.
The Parties wish to enter into this Agreement to set out certain additional terms relating to the implementation of the Acquisition including, in accordance with Section 16.3 of the Implementation Agreement, amending and restating Schedule 1 to the Implementation Agreement in order to authorize and direct the Company to take all actions required to partially accelerate the vesting of certain Company RSU Awards and Company PSU Awards, provided that the Effective Date occurs on or before 31 December 2021.
“Second Amendment Effective Date” means March 18, 2022.
“First Amendment Effective Date Incremental Loan” means the incremental term loan in the aggregate principal amount of $200,000,000 made by the Incremental Lender (as defined in the First Amendment) on the First Amendment Effective Date pursuant to the First Amendment.
“Effective Date” means, as to the applicable Debtor, the date that is the first Business Day on which (a) no stay of the Confirmation Order is in effect and (b) all conditions precedent to the occurrence of the Effective Date set forth in Article IX.A of the Prepackaged Plan have been satisfied or waived in accordance with Article IX.B of the Prepackaged Plan. Any action to be taken on the Effective Date may be taken on or as soon as reasonably practicable thereafter.
On or prior to the Effective Date, the Company Board (or an authorized committee thereof) shall take all actions necessary to ensure that (a) the Company Share Plans shall be terminated as of the Effective Date (including by amending such Company Share Plans), (b) the provisions in any other plan or agreement providing for the issuance, transfer or grant of any interests in Company Shares shall terminate as of the Effective Date, and (c) no holder of a Company Option, Company RSU Award, Company PSU Award or any participant in any Company Share Plan or other plan or contract shall have any right thereunder to acquire any Company Shares after the Effective Date.
Effective on or about February 1, 2021 (the "Effective Date"): (i) shares of General Money Market Fund, Inc. will be reclassified as a series named "Dreyfus Money Market Fund"; (ii) General Municipal Money Market Fund will be renamed "Dreyfus National Municipal Money Market Fund"; (iii) General New York AMT-Free Municipal Money Market Fund will be re-named "General New York Municipal Money Market Fund" and its shares reclassified as a series named "Dreyfus New York Municipal Money Market Fund"; and (iv) Class A shares of each fund will be renamed "Wealth" shares.
The “Effective Date” is a specific term used in contracts and legal documents to denote the date when the terms and conditions of the document become enforceable. It is essentially the day on which the contract or agreement officially takes effect, marking the commencement of the parties’ rights and obligations specified in the document.
You should use an Effective Date in any situation where it is necessary to clearly establish when the provisions of a contract or legal agreement begin. It is useful for providing clarity and certainty, reducing potential disputes about the commencement of responsibilities and entitlements. Effective Dates are often crucial in contracts where actions, payments, or services are contingent on or aligned with specific time frames.
When writing an Effective Date, it is important to specify it clearly in the contract or document to avoid any ambiguity. The Effective Date can be a specific calendar date or an event upon which the contract will commence. Here is a typical way to present it:
This Agreement shall commence and become effective as of [Insert Date] (the “Effective Date”).
Effective Dates are found in a wide range of contracts, including but not limited to:
By including a clear Effective Date, parties involved can align expectations and plan accordingly based on when the agreement’s terms are set to start.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Effective Tangible Net Worth" clause refers to a company’s total assets minus intangible assets and liabilities, serving as a financial metric to assess the company's tangible book value. This clause is often used in loan agreements or financial covenants to ensure that the company maintains a minimum level of real asset value, safeguarding creditors' interests.
The Elapsed Time Method clause specifies that the time period for contractual obligations or project completion is measured in calendar days from a mutually agreed-upon start date, regardless of any delays or non-working days. This approach ensures a clear timeline that both parties adhere to, promoting accountability and streamlining project management.
The electronic signature clause allows parties to execute contracts using digital signatures instead of handwritten ones, facilitating faster and more convenient transactions. It ensures that electronic signatures hold the same legal validity and enforceability as traditional signatures, subject to applicable laws and regulations.
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