Closings and Closing Date Clause Samples
The "Closings and Closing Date" clause defines when and how the final transfer of ownership or completion of a transaction will occur between the parties. It typically specifies the exact date, time, and location for the closing, as well as the conditions that must be satisfied before the closing can take place, such as delivery of documents or payment of funds. This clause ensures both parties are clear on the timeline and procedural requirements for finalizing the deal, thereby reducing uncertainty and helping to prevent disputes about when obligations are fulfilled.
Closings and Closing Date. 3.1 The Closing for the Reorganization shall occur on December 12, 2003, and/or on such other date(s) as may be mutually agreed upon in writing by the parties hereto (each, a "Closing Date"). The Closing(s) shall be held at the offices of U.S. Bancorp Fund Services, LLC, 6▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, or at such other location as is mutually agreeable to the parties hereto. All acts taking place at the Closing(s) shall be deemed to take place simultaneously as of 9:00 a.m., local time on the Closing Date unless otherwise provided.
Closings and Closing Date