Closing Date Settlement Clause Samples
The Closing Date Settlement clause establishes the specific date and procedures by which the final transfer of ownership, payment, and possession occurs between the parties in a transaction. Typically, this clause outlines the obligations of both buyer and seller on the closing date, such as delivering necessary documents, transferring funds, and recording the deed or title. Its core practical function is to ensure a clear, coordinated, and legally binding completion of the transaction, minimizing confusion or disputes about when and how settlement takes place.
Closing Date Settlement. The payment for, against delivery of, Initial Notes in respect of the Commitment shall be settled on the Closing Date. The payment for, against delivery of, Additional Notes shall be settled on each applicable Date of Delivery. On the Closing Date and each Date of Delivery, each Investor shall provide payment for the applicable Initial Notes or Additional Notes, as applicable, to the Company’s account designated in writing by wire transfer of immediately available funds and, immediately upon receipt of such funds, the Company shall, or shall cause its transfer agent to deliver the Initial Notes or Additional Notes, as applicable, as provided in the Indenture.
Closing Date Settlement. This Agreement shall become effective and binding upon the delivery of counterpart signature pages of this Agreement and the Registration Rights Agreement executed by each of the parties hereto and thereto. In consideration of and in express reliance upon the representations, warranties and covenants contained in, and upon the terms and subject to the conditions of, this Agreement, during the Investment Period, the Company, at its sole option and discretion, may issue and sell to the Investor, and, if the Company elects to so issue and sell, the Investor shall purchase from the Company, the Shares in respect of each VWAP Purchase. The delivery of Shares in respect of each VWAP Purchase, and the payment for such Shares, shall occur in accordance with Section 3.2, provided that all of the conditions precedent in Article VII shall have been fulfilled at the applicable times set forth in Article VII.
Closing Date Settlement. Upon the effectiveness of this Agreement on the Closing Date, (a) the Revolving Loan Commitment is being increased by $2,000,000 from the amount thereof in the Original Credit Agreement,
Closing Date Settlement. On the Closing Date, in addition to payment of the Initial Payment and delivery of the Purchase Price Shares pursuant to Section 1.4 above, Buyer shall pay to Seller as further consideration for the Shares an amount equal to the sum of (i) all cash, plus (ii) the fair market value of all Cash Equivalents, in each case as shown on the books of the Corporation as of the Closing Date to the extent that such cash and Cash Equivalents have not previously been transferred to the Seller pursuant to Section 4.11 hereof (less the amount of any transaction costs associated with such payment which shall be for the account of Seller).