Common use of Effectiveness and Conditions Precedent Clause in Contracts

Effectiveness and Conditions Precedent. This Agreement will become effective on the date that the Lender notifies the Borrower that the following conditions precedent have been fulfilled: 3.1 this Agreement has been executed by all parties; 3.2 executed copies of the TI Collaboration Agreement and the TI Software License Agreement which are in form and substance satisfactory to the Lender; 3.3 updated 13-Week Cash Flow Projection in form and substance satisfactory to ▇▇▇▇▇▇▇▇▇▇; 3.4 no Default exists; 3.5 all fees and expenses owing by the Borrower to the Lender and its legal counsel and the ▇▇▇▇▇▇▇▇▇▇’ Financial Advisor due on the date of this Agreement shall have been paid and the Lender is authorized to debit the Borrower’s account and proceed to the payment of such fees and expenses.