Closing Events definition
Examples of Closing Events in a sentence
It is the day, place and time in which the compliance of the Closing Events mentioned in paragraph 24.3 of the BIDDING TERMS and in paragraphs 4.1 and 4.2 of Clause Four of this CONTRACT is verified.
Regardless of the order of the Closing Events set out below, each Closing Event shall only be deemed to have been carried out and become effective once all Closing Events have been carried out.
The legal effect of such statement shall be limited to serve as evidence that all Closing Events have been performed and that the Closing has occurred, but shall not limit or prejudice in any manner the rights of the Purchaser arising under this Agreement or under the Law.
Immediately following the Closing Events, the Capital Account balance of each Member shall be the product of (i) such Member’s Percentage Interest and (ii) the net equity value of the Company, which shall be determined as (x) the product of the price to public of the shares of Common Stock sold in the Offering and the number of Units outstanding immediately after the closing of the Offering, less (y) the Offering Expenses.
After all Closing Events have been performed, the Seller and the Purchaser shall confirm in a written document to be jointly executed by the Seller and the Purchaser substantially in the form of the draft attached as Exhibit 10.2.2 hereto (the “Closing Confirmation”) that all Closing Events have been performed and that the Closing has occurred.
On the Closing Date and after giving effect to ------------------------- the Closing Events, the Net Worth shall be not less than $10,000,000.
After occurrence of the Closing, the Parties shall confirm to each other in writing (the “Closing Confirmation”) that (i) all Closing Events have been duly fulfilled or validly waived for their mutual satisfaction and that, for the purposes of this Agreement, Closing has occurred, and (ii) the transfer of Sold Shares to Purchaser has occurred.
The Closing Date shall be the day on which all, and not only some, of the Closing Events (as defined in clause 10.2 below) shall have taken place or shall have been duly waived.
The Parties shall use best efforts to satisfy the Closing Conditions and to fulfill the Closing Events.
The date on which all Closing Events have been performed shall be the “Closing Date”.