Initial Closing and Second Closing Sample Clauses
The "Initial Closing and Second Closing" clause defines the process and timing for completing a transaction in two distinct stages. Typically, the initial closing involves the transfer of a portion of the assets, shares, or funds, with the second closing occurring later upon satisfaction of additional conditions or milestones. This structure allows parties to proceed with part of the deal while deferring the remainder until certain requirements are met, thereby managing risk and providing flexibility in complex transactions.
Initial Closing and Second Closing. The Initial Closing and the Second Closing shall have taken place.
Initial Closing and Second Closing. 3 2.1. Initial Closing.................................................................................3 2.2. Second Closing..................................................................................4
Initial Closing and Second Closing. The closing of the transactions contemplated by this Agreement (the "Initial Closing") shall take place at the offices of the Stations in Florence, South Carolina, commencing at 9:00 a.m. local time on a date within five (5) business days after the FCC approval of the Assignment Application becomes a Final Order, by which date all other conditions to the obligations of the Parties to consummate the transactions contemplated hereby will have been satisfied, or such other date and location as the Parties may mutually determine (the "Initial Closing Date"). Buyer will provide Seller at least five (5) business days' notice of the Closing. In the event there is a Second Closing, such Second Closing shall take place at the offices of the Stations in Florence, South Carolina, commencing at 9:00 a.m. local time on a date within five (5) business days after the FCC approval of the Assignment Application for WWFN-FM becomes a Final Order, by which date all other conditions to the obligations of the Parties to consummate the transactions contemplated hereby will have been satisfied, or such other date and location as the Parties may mutually determine (the "Second Closing Date"). The Initial Closing and the Second Closing shall be referred to collectively as the "Closing."
Initial Closing and Second Closing. (a) Subject to the satisfaction or waiver of the conditions set forth in Section 7.1 (other than conditions which by their nature can only be satisfied at the Initial Closing, but subject to the satisfaction or waiver thereof at the Initial Closing) and subject to the terms and conditions of this Agreement, the initial closing of the Transactions (the “Initial Closing”), shall take place at the offices of ▇▇▇▇▇▇▇▇ ▇▇▇▇ Brandeis & ▇▇▇▇▇▇▇▇, LLP, located at ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or by electronic transfer of executed counterparts, at 12:01 a.m., New York City time, on May 17, 2019 (or the next available date when the conditions set forth in Section 7.1 have been satisfied or waived) or at such other time, date, place, or method as the Parties may mutually agree upon in writing. The date on which the Initial Closing is to occur is herein referred to as the “Initial Closing Date.”
(b) If all of the Acquired Assets are not acquired by Purchaser on the Initial Closing, subject to the satisfaction or waiver of the conditions set forth in Section 7.2 (other than conditions which by their nature can only be satisfied at the Second Closing, but subject to the satisfaction or waiver thereof at the Second Closing) and subject to the terms and conditions of this Agreement, one subsequent closing (the “Second Closing”) shall take place at the offices of ▇▇▇▇▇▇▇▇ ▇▇▇▇ Brandeis & ▇▇▇▇▇▇▇▇, LLP, located at ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or by electronic transfer of executed counterparts, at 12:01 a.m., New York City time, on June 14, 2019 (or the next available date when the conditions set forth in Section 7.2 have been satisfied or waived) or at such other time, date, place, or method as the Parties may mutually agree upon in writing. The date on which the Second Closing is to occur is herein referred to as a “Second Closing Date.”
Initial Closing and Second Closing. Notwithstanding anything herein to the contrary, the initial Closing must take place on not less than $750,000 of cash Subscription Amount. The initial Closing must take place on or before April 15, 2016 (the “Initial Closing”). Subsequent to the Initial Closing, and on or prior to such date as is one year following the Initial Closing, an additional Closing (the “Second Closing”) may take place on up to $300,000 of cash Subscription Amount, provided that the Milestone Event has occurred.
Initial Closing and Second Closing