Simultaneous Delivery Clause Samples
The Simultaneous Delivery clause requires that the exchange of goods, services, or documents between parties occurs at the same time. In practice, this means that each party must be ready to fulfill their respective obligations—such as delivering payment and transferring ownership—so that neither side is at a disadvantage or exposed to risk by performing first. This clause is essential for ensuring fairness and minimizing the risk of non-performance, as it prevents one party from having to rely solely on the promise of future action by the other.
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Simultaneous Delivery. All deliveries at the Closing as provided for in Section 2.2 shall be deemed to be made and effected simultaneously with each other and with all deliveries provided for in Section 2.3, and all such deliveries shall be deemed to be in escrow until all such deliveries provided for in Section 2.2 and in Section 2.3 have been made and effected.
Simultaneous Delivery. All acts with respect to the Closing shall be considered as having taken place simultaneously, and no delivery or payment shall be considered as having been made until all deliveries, payments and Closing transactions have been accomplished.
Simultaneous Delivery. All documents delivered at the Closing shall be deemed to have been delivered simultaneously.
Simultaneous Delivery. All document and instruments to be delivered on the Closing Date shall be regarded as having been delivered simultaneously, and no document or instrument shall be regarded as having been delivered until all Closing documents and instruments have been delivered.
Simultaneous Delivery. All documents, instruments and funds to be delivered by the Seller and the Purchaser at the Closing pursuant to this Article III shall be regarded as having been delivered simultaneously, and no document, instrument or funds shall be regarded as having been delivered until all such documents, instruments and funds have been delivered.
Simultaneous Delivery. All matters at Closing will be deemed to take place simultaneously and all documents and items delivered and payments made in connection with Closing shall be held by the recipient to the order of the person delivering them until such time as Closing takes place. Each of such actions, deliveries and payments shall be deemed to have occurred as at the Closing Date.
Simultaneous Delivery. Any notice, demand or other communication given hereunder delivered by either party to the other will be simultaneously delivered to Escrow Agent and any notice, demand or other communication given hereunder by either party to Escrow Agent will be simultaneously delivered to the other party.
Simultaneous Delivery. The execution and delivery of the agreements and documents described in this SECTION 3 and to be delivered at the respective Closings, and the consummation of all of the transactions to be consummated at each Closing shall, as to each such Closing, be deemed to have been executed and delivered and to have taken place simultaneously, and no execution, delivery, payment or transaction scheduled to occur at a Closing shall be deemed to have occurred until all such executions, deliveries, payments and transactions scheduled to occur with respect to that Closing have in fact occurred.
Simultaneous Delivery. 16 4.6 Termination of Agreement 16 4.7 Procedure Upon Termination. 17 4.8 Effect of Termination. 17 4.9 Change of Name. 17 Article 5 - REPRESENTATIONS AND WARRANTIES OF BRAWLEY. 17 5.1 Organization and Power. 18 5.2 Authorization. 18 5.3 No Violation. 18 5.4 Financial Statements. 18 5.5 No Adverse Changes. 19 5.6 Absence of Certain Changes. 19 5.7 Books and Records. 19 5.8 Accounts Receivable. 19 5.9 Title to Contributed Assets; Condition. 20 5.10 Owned Real Estate. 20 5.11 Leases. 21 5.12 Intellectual Property. 22 5.13 Written Assumed Contracts. 22 5.14 Employees. 22 5.15 Taxes. 23 5.16 Litigation. 23 5.17 Compliance with Law; Licenses and Permits. 23 5.18 Insurance. 24 5.19 Environmental Matters. 24 5.20 Occupational Safety and Health. 26 5.21 Employee Benefit Plans. 26 5.22 Products. 28 5.23 Brokers and Finders. 28 5.24 Statements True and Correct. 28 Article 6 - REPRESENTATIONS AND WARRANTIES OF NATIONAL AND NEWCO. 29 6.1 Organization and Power. 29 6.2 Authorization. 29 6.3 No Violation. 29 6.4 Capitalization. 29 6.5 Litigation. 29
Simultaneous Delivery. 16 (g) Delivery of Closing Documents. . . . . . . . . . . . . . . . . 16 (h) Effective Date For Financial Statement Purposes; No Equitable Conversion . . . . . . . . . . . . . . . . . . . . . 16