Common use of First Closing Date Clause in Contracts

First Closing Date. Subject to the satisfaction or, to the extent permissible by law, waiver (by the party for whose benefit the First Closing condition is imposed) on the date scheduled for the First Closing, of the conditions precedent set forth in Sections 7.1 and 7.2, as appropriate, the First Closing shall take place at 10:00 a.m. on April 23, 1999.