How is ‘Effective immediately’ defined in a legal contract?
- Effective immediately means the unconditional and guaranteed timely enforcement of all financial obligations, if not paid when due, that follows the acquisition by one party of all outstanding capital stock of a second party as per a pre-agreed transaction.
Seen in 1 SEC filing - Effective immediately means the appointment of a collateral agent by the debtor to exercise all powers with respect to all accounts, chattel paper, instruments, documents, investment property, electronic chattel paper, supporting obligations or general intangibles upon the occurrence of an event of default.
Seen in 1 SEC filing - Effective immediately means the instant act of communicating a written notice.
Seen in 1 SEC filing - Effective immediately means the incentive fee set forth in a section of a specific agreement is changed to a percentage of the New High Net Trading Profits achieved on allocated assets, including realized and unrealized gains and losses.
Seen in 1 SEC filing - Effective immediately means the change in the incentive fee set forth in a specific agreement to a percentage of New High Net Trading Profits based on the net asset value allocated by the general partner to the advisor’s management.
Seen in 1 SEC filing
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Effective immediately means the instant enactment of a specified action, decision, or change, following specified conditions or trigger events.
Relevant Contract Type
- Employment Contract
- Sales and Purchase Agreement
- Loan Agreement
- Non-Disclosure Agreement
- Lease Agreement
- Service Agreement
Relevant Circumstances
- Instant activation or termination of contract terms
- Immediate implementation of penalties and remedies
- Instant enforcement of obligations
Relevant Sectors
Genie Definition 2
Effective immediately means upon written notice, enforcing specified obligations or enactments without delay.
Relevant Contract Type
Relevant Circumstances
- Legal changes or amendments to a contract
- Termination clauses
- Breach of contract notices
- Service level changes
Relevant Sectors
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