Common use of Exchange Closing Clause in Contracts

Exchange Closing. The date and time of the closing (the “Closing”) of the transactions specified in Section 1 above (the “Closing Date”) shall be 9:00 a.m., New York City time, on the record date for the Spin-off Distribution, subject to the notification of satisfaction (or waiver) of the conditions to Closing set forth in Sections 4 and 5 hereof. The Closing shall occur at the offices of S▇▇▇▇▇▇ R▇▇▇ & Z▇▇▇▇ LLP, 9▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ and may be undertaken remotely by electronic exchange of documentation.