Completion Closing Clause Samples
The COMPLETION/CLOSING clause defines the conditions and procedures required to finalize a transaction or project. It typically outlines the steps each party must take to complete their obligations, such as delivering documents, transferring funds, or confirming that all contractual requirements have been met. This clause ensures that both parties understand when and how the agreement is officially concluded, thereby reducing the risk of disputes and providing a clear endpoint for the contractual relationship.
Completion Closing a. The Purchaser shall complete the required compliances for change of directors and shareholders within 30 days of the execution of this SPA and Sellers shall fully cooperate in completing the required compliances;
b. The Purchasers shall pay/remit the Purchase Price to the Sellers, as per the above clause 2.3;
c. The existing management shall hold a Board Meeting to execute and record the share transfer and shall make necessary arrangements for the appointment of new directors;
d. Necessary filings shall be made with the Registrar of Companies to intimate the changes in Management and shareholding of the Company under the provisions of the Companies Act, 2013 within 30 days of the date of execution of this SPA.
e. Pursuant to the completion of the requirements of sub-clause (a to d) above, the Company shall further update the statutory registers to record the change in composition of the board of directors and the transfer of the legal and beneficial owner of the Sale Shares, and shall return duly endorsed original share certificates to the Purchasers within 30 days from the date of execution of this SPA.
Completion Closing a. After expiry of Six months from the execution date, the Purchaser shall immediately strive to change the management and shareholding structure of the Company;
b. The Purchasers shall pay/remit the Purchase Price to the Sellers, as per the above clause 2.3;
c. The existing management shall hold a Board Meeting to execute and record the share transfer and shall make necessary arrangements for the appointment of new directors;
d. Necessary filings shall be made with the Registrar of Companies to intimate the changes in Management and shareholding of the Company under the provisions of the Companies Act, 2013.
e. pursuant to the completion of the requirements of sub-clause (a to d) above, the Company shall further update the statutory registers to record the change in composition of the board of directors and the transfer of the legal and beneficial owner of the Sale Shares, and shall return duly endorsed original share certificates to the Purchasers.
f. Notwithstanding the actual time periods involved in completing the above process, all proceedings to be taken and all documents to be executed and delivered by the Purchasers, Sellers and the Company shall be deemed to have been taken and executed simultaneously.
Completion Closing. (a) Completion (the “Closing”) shall occur on December 19, 2025 (the “Completion Date”), remotely via exchange of documents and signatures, unless the parties agree in writing to an earlier date.
(b) This Agreement and Closing are expressly conditioned on approval by Aether’s board of directors on or before Friday, December 12, 2025 (the “Board Approval Deadline”). If such approval is not obtained by the Board Approval Deadline, this Agreement shall automatically terminate with no liability to any party (except for breach of confidentiality and the non-solicitation obligations that expressly survive termination, if any).
Completion Closing