Common use of Effectiveness and Effect of Agreement Clause in Contracts

Effectiveness and Effect of Agreement. This Agreement shall become effective (and the date this Agreement becomes so effective is the "Effective Date") on the date (which date shall occur on or before July 10, 1997) which is three Banking Days following the date upon which Agent shall have received counterparts of this Agreement, duly executed by Borrower and the Banks listed on the signature pages hereof; provided that any Notice of Borrowing delivered by the Borrower during the period between the receipt of the Borrower's executed counterpart hereof and the Effective Date (if any) shall have the same force and effect, and shall be subject to the provisions of Section 2.3(c), as if the Effective Date had occurred prior to the delivery thereof.