Additional Closing Condition Clause Samples

Additional Closing Condition. The parties hereby agree that the Asset Purchase Agreement be amended such that the Settlement (as hereinafter defined) of the Threatened Litigation by the Company and the Operating Subsidiaries shall be deemed an additional condition to Acquiror's obligations to close under Section 5.2 of the Asset Purchase Agreement. For purposes of this letter agreement, "SETTLEMENT" shall mean that the named plaintiffs in the Threatened Litigation and the Company and its Subsidiaries have entered into a signed, written final agreement, whereby such plaintiffs agree to release the Company and its Subsidiaries from their claims contemplated by the Threatened Litigation and any and all other existing claims, and that proper documents have been filed with the court of competent jurisdiction seeking to dismiss all lawsuits filed by any of the plaintiffs against the Company or its Subsidiaries. The Company and the Operating Subsidiaries shall promptly notify Acquiror upon the Settlement of the Threatened Litigation.

Additional Closing Condition. No Merger shall occur, unless all principal, interest, fees and other amounts due under the IHI Senior Secured Credit Facility and the EnSerCo Loan shall be paid in full. IHI and T-3 agree that as of March 31, 2001, the principal amount due under the EnSerCo Loan is $15 million, the interest due and payable under the EnSerCo Loan is $3,473,753.42, and that interest continues to accrue under the EnSerCo Loan at the rate of 18% per annum (as calculated under the terms of the EnSerCo Loan).

Additional Closing Condition is hereby added as follows:

Additional Closing Condition. The obligation of Buyer to effect the transactions contemplated by the Purchase Agreement shall be subject to the satisfaction of the additional condition, unless waived in writing by Buyer, which is hereby added to Article 8:

Additional Closing Condition. The satisfaction of the condition precedent set forth in Section 8.6 of the Disclosure Schedule.

Additional Closing Condition. In addition to the conditions set ---------------------------- forth in Sections 10.1 and 10.3 of the Standard Terms, the obligations of the Receiver under this Agreement are subject to the satisfaction of the following condition: Each of the Other Acquirors shall have entered into its respective Other Branch Agreement and all of the conditions to the Receiver's and each such Other Acquiror's obligations set forth in Article X of the Standard Terms (as incorporated by reference in each such Agreement) shall have been satisfied or waived.

Additional Closing Condition. The obligation of the parties hereto to consummate the purchase and sale of the Closing Securities at the Closing is subject to the following additional conditions: (a) all conditions precedent to the closing of the First Merger (as such term is defined in the Acquisition Agreement) of the Acquisition under the Acquisition Agreement shall have been satisfied (as determined by the parties to the Acquisition Agreement and other than those conditions under the Acquisition Agreement which, by their nature, are to be satisfied at the closing of the First Merger) or waived and (b) the closing of the First Merger shall occur substantially concurrently with the Closing.