Effective Date of the Exchange Sample Clauses
The 'Effective Date of the Exchange' clause establishes the specific date when the terms of an exchange agreement become legally binding and operational for all parties involved. Typically, this clause clarifies whether the effective date is the date of signing, a future agreed-upon date, or contingent upon the fulfillment of certain conditions, such as regulatory approvals or the completion of due diligence. By clearly defining when the exchange takes effect, this clause ensures that all parties have a mutual understanding of their rights and obligations, thereby preventing disputes over timing and the commencement of responsibilities.
Effective Date of the Exchange. Articles of exchange evidencing the transactions contemplated herein shall be delivered to the Delaware Secretary of State for filing. The exchange shall be effective at the time and on the date on which the Articles of Exchange are filed with the Delaware Secretary of State. (such date and time being herein referred to as the "effective date").
Effective Date of the Exchange. The Exchange shall become effective when the Secretary of State of Delaware and the Registrar of Companies for England &Wales, respectively, file duly executed Certificates of Exchange pursuant to the provisions of their respective laws. AutoC and Autocarbon LTD agree to use their best efforts to cause such filings to occur as promptly as practicable following the Closing Date. As used herein, the term "Effective Date" shall mean the date upon which the Certificate of Exchange is filed by the Secretary of State of Delaware or theregistrar of Companies of England & Wales, whichever is the later to occur.
Effective Date of the Exchange. The exchange shall become effective on the date of execution.
Effective Date of the Exchange. Subject to the satisfaction of all of the conditions set forth in Section 8 below, the Exchange shall initially become effective upon the consummation of the Initial Closing and upon the latter date of (i) the filing of the Amendment with the Secretary of State of Delaware or (ii) the date any requisite filing is made with the Commonwealth of Massachusetts. East Coast and Psy-Ed agree to use their best efforts to cause such filings to occur as promptly as practicable following the Initial Closing. As used herein, the term "Effective Date" shall mean the date upon which the Amendment is filed by the Secretary of State of Delaware or the filing of any required certificate or document with the Commonwealth of Massachusetts, whichever is the last to occur. Following the Effective Date, the Exchange shall continue until either (x) the aggregate amount of Psy-Ed Common Shares delivered to East Coast represent at least eighty (80%) percent of the total combined voting power of all classes of Psy-Ed capital stock outstanding and eighty (80%) percent of the total number of all classes of Psy-Ed capital stock outstanding in order that the Exchange qualify as a tax free reorganization under Section 368 of the Code, and at which time, the parties shall hold a "Final Closing", or (y) until February 2, 2004.