Common use of EFFECTIVE DATE AND CONDITIONS Clause in Contracts

EFFECTIVE DATE AND CONDITIONS. This Agreement shall become effective on the date that Resolution Number , the Resolution of the Mayor and City Council that approves this Annexation Agreement and authorizes the Mayor to sign the Agreement, is passed and the Mayor signs the Agreement. The Annexation of the Annexation Property shall become effective no less than forty-five days following the adoption of the Annexation Resolution required by the Md. Local Government Code ▇▇▇., Division II, Title 4, Subtitle 4, (hereinafter “Subtitle 4”) subject to the following: A. Expiration of all referendum periods, pursuant to Subtitle 4, with no petition for referendum having been filed, or if such a petition has been filed, final completion of the referendum process resulting in the Annexation. B. Final approval by the City of the annexation contemplated herein. Final approval shall be deemed to include final approval of all administrative actions, votes and execution of required documents in order to effectuate the annexation, with no legal challenges or appeals being filed therefrom, or if such a legal challenge or appeal has been filed, final resolution of said legal challenge or appeal in a manner that does not alter the terms and conditions of annexation agreed to by the Owner, without the Owner’s written consent. C. Owner, or such other person as Owner may designate in writing as Agent, shall have the right at any time prior to 5:00 PM on the 5'h day after the passage of the Charter Resolution, to withdraw consent to the proposed annexation of the Annexation Property by delivery of written notice to the Office of the City Administrator. Upon receipt of such notice, this Agreement and the Petition shall thereupon become void and of no effect as to the Annexation Property without further action by the City, time being of the essence If Owner exercises its right to withdraw its consent to the proposed annexation as provided for herein, Owner shall reimburse the City for all administrative expenses of the annexation process incurred by the City, including but not limited to advertising costs.