Common use of Completion of Purchase Clause in Contracts

Completion of Purchase. (a) Subject to Clause 21.7(d), the completion of any purchase under this clause shall take place on a date selected by the relevant purchaser which is not later than 20 Business Days after the later to occur of the date of its acceptance of the Offeror's offer and the date of approval of any reasonable statutory approvals necessary for such purchase. (b) If the interest of a Joint Venturer is transferred pursuant to Clause 21.8 and there are monies owing by the defaulting Joint Venturer to the non-defaulting Joint Venturer then the non-defaulting Joint Venturer shall be entitled to set off such monies owing against the purchase price.