Common use of Assignment Effective Date Clause in Contracts

Assignment Effective Date. At or before 12:00 noon (local time of Assignor Lender) on the Assignment Effective Date, the sale, assignment and delegation to Assignee Lender of such Revolving Loan Commitment (and related Loans and participations in L/C Obligations), Term Loan and corresponding Proportionate Shares as described in Section 2 hereof shall become effective.