Phase III Closing Sample Clauses
The Phase III Closing clause defines the terms and procedures for completing the third and final stage of a multi-phase transaction. It typically outlines the specific conditions that must be met before the closing can occur, such as regulatory approvals, delivery of final documents, or fulfillment of prior obligations. This clause ensures that all parties understand the requirements and timing for the final transfer of assets or interests, thereby providing a clear roadmap for concluding the transaction and minimizing the risk of disputes or delays.
Phase III Closing. The closing of the purchase and sale of the Working Interest in Phase III (the “Phase III Closing”) shall be held at the offices of the Company (or by delivery of closing documents and items by email, facsimile, or overnight courier, and delivery of closing funds by wire transfer) on a mutually acceptable date within three (3) business days following delivery of the Company’s exercise notice in accordance with Section 4.1(c), above. At the Phase III Closing:
Phase III Closing. (a) The Phase III Closing shall be an escrow closing under the terms of the Escrow Agreement-Phase III whereby all funds necessary to complete the Phase III Closing shall be deposited with the Escrow Agent (the “Phase III Closing). The Escrow- Phase III shall remain in force to pay all Post Closing Invoices-Phase III. The Escrow Agent shall release funds only pursuant to the Escrow Agreement-Phase III and the Instruction Letters-Phase III.
(b) After receiving the written acknowledgment that the Pre-Conditions to the Phase III Closing have been either satisfied or waived, Cobalt shall be responsible to (i) set the Phase III Closing for a mutually agreeable date, (ii) arrange for the timely delivery of all of the documents and funds necessary to close the Phase III Closing and (iii) coordinate the release of all of the escrowed documents and funds pursuant to the Escrow Agreement-Phase III and any Instruction Letters-Phase III.
(c) Subject to the provisions of Section 7.6 regarding the effect of using Developer Bonds or Midwest Disaster Bonds on the deliverables, Cobalt shall deposit, or cause to be deposited, the originals of the documents identified in Section 7.5 (as appropriate, depending on whether the CDA or Cobalt will remediate Parcel II), the Letter of Credit-Phase III, the Cobalt Contributions-Phase III and any additional documents necessary to close the real estate transactions as part of the Phase III Closing with the Escrow Agent (collectively the “Cobalt Closing Deliverables-Phase III”).
(d) The Phase III Closing will be commenced after the deposit of the Net Bond Proceeds-Phase III and written confirmation from the CDA Chairperson that all of the other City Closing Deliverables-Phase III (defined below) and the CDA Closing Deliverables-Phase III (defined below) have been completed.
Phase III Closing. Closing on the Phase III property shall be on the later of (i) March 1, 2013 or thirty-six (36) months following the Phase II and Phase IV closing.
Phase III Closing. Within ten (10) business days after the execution ----------------- of a definitive agreement memorializing the terms of the strategic alliance set forth in the Letter of Intent, the Company shall deliver to Purchasers certificates for the Shares being purchased by each Purchaser on the Phase III Closing Date as set forth on Exhibit A, registered in the name of each such --------- Purchaser, and each Purchaser shall pay to the Company the respective Purchase Price for the Shares as set forth on Exhibit A by wire transfer, certified check --------- or other method acceptable to the Company.
Phase III Closing