Common use of Separate Closings Clause in Contracts

Separate Closings. Notwithstanding any provision of this Agreement to the contrary, if, on or prior to the date that would otherwise be the Second Closing Date pursuant to Section 8.1(b), the conditions precedent to the completion of the Second Closing set forth in Sections 7.3 and 7.4 above have been satisfied with respect to less than all of the Stations, the parties shall nevertheless complete the Second Closing in accordance with the terms hereof with respect to the Station or Stations for which such conditions have been satisfied on such date as is determined pursuant to Section 8.1(b). The parties shall thereafter complete the Second Closing for the remaining Station or Stations at such time as the conditions set forth in Sections 7.3 and 7.4 above have been satisfied with respect to such Station or Stations on such date as is determined pursuant to Section 8.1(b). For the purpose of this Section 7.5, the Second Closing Purchase Price shall be divided among the Stations as follows: WDPX(TV) - $4,000,000; WPXG(TV) - $2,000,000 and WPXU(TV) - $2,000,000.