Common use of Sequencing Clause in Contracts

Sequencing. It is expressly understood, agreed and expected that the applicable Closing might be completed before Seller has had an opportunity to present the Satisfaction Documents to the Issuing Bank and thereby receive the Purchase Price from the Issuing Bank, but that nonetheless upon the applicable Closing (i.e., upon satisfaction or express waiver in writing of all the closing conditions as set forth herein) all title and ownership to and in the applicable Shipment Gold (i.e., including the refined gold resulting from refining the 50-100 kilogram sample of Gold selected by Buyer, or the dip samples (as the case may be), and also including the remaining Gold in doré bar or other form and all other minerals contained in the doré) shall automatically transfer to Buyer – and without any requirement for further instrument of transfer on the part of Seller.