Common use of EFFECTIVE DATE OF SETTLEMENT Clause in Contracts

EFFECTIVE DATE OF SETTLEMENT. The Seller and the Buyer hereby acknowledge and agree that the terms of conditions of the settlement set forth in Section 1 of this Agreement will not be effective until such time as the Buyer, the Seller and SUSA have each executed and delivered that certain Consent and Confirmation attached as Exhibit G to the Amendment to the PSA dated December 22, 2014 between the Seller and the Buyer (the “Consent”). Upon the date of execution and delivery of the Consent (the “Effective Date”) by the Buyer, the Seller and SUSA, this Agreement and all of the terms and conditions set forth herein shall be effective and binding upon the Parties as of the Effective Date including, without limitation, the Seller’s waiver and release of any Title Benefits and agreement to adjust the Purchase Price under subparts (a) and (b) of Section 1 hereof and the waivers and releases of the Buyer under subparts (i), (ii), (iii), (iv) and (v) of Section 1 hereof.