Common use of Initial and Subsequent Closings Clause in Contracts

Initial and Subsequent Closings. Subject to the satisfaction or waiver of the conditions set forth in section 3.2 below, a closing (the "Initial Closing") shall occur on the date on which the Initial Registration Statement is declared effective by the Securities Exchange Commission (the "Commission") or as soon thereafter as the conditions in Section 3.2 are satisfied. A closing shall also occur on the date on which each Registration Statement covering Additional Shares issued pursuant to Section 1.2(c) is declared effective by the Commission (a "Subsequent Closing" and, together with the Initial Closing, referred to herein as an "Interim Closing"). A closing (the "Final Closing") shall also occur on the third Trading Day following the receipt by Foundation of Share Proceeds and cash from Per-Se pursuant to Section 1.2(c) or (d) equal to the Target Consideration.