Common use of Option Closing Date Clause in Contracts

Option Closing Date. Subject to the terms and conditions of this Agreement, the Option Closing shall take place on the second (2nd) Business Day after the date that the conditions set forth in Articles 7 and 8 (other than those conditions which, by their terms, are to be satisfied or waived at the Option Closing, but subject to the satisfaction or waiver of such conditions) shall have been satisfied or waived by the party entitled to waive the same, or at such other time and date that the Company and the Purchaser may agree in writing. The Option Closing shall take place by the electronic exchange of documents. The date upon which the Option Closing occurs is referred to herein as the “Option Closing Date.”