Accelerated Closing definition
Examples of Accelerated Closing in a sentence
The parties agree that immediately upon the date Supplier learns of any such Accelerated Closing of a Covered Store, ▇▇▇▇▇ Mart shall have the obligation to immediately reconcile any underpayments made to Supplier of Net Revenue for each such applicable Covered Store.
Within thirty (30) days after the actual closing of such Covered Store(s), the actual shrinkage will be calculated for such Covered Store(s) and ▇▇▇▇▇ Mart agrees Supplier shall have the right to the actual cost value of such shrink occurring during the time period commencing the one hundred twentieth (120th) day prior to the closing of such Covered Store(s) and continuing until the actual closing date in the event of an Accelerated Closing.
Without limiting the foregoing, and for the purpose of clarification only, delivery by Purchaser of the Accelerated Closing Date Notice shall constitute Purchaser’s acceptance of all title exceptions encumbering the Property as of the Closing Date.
With respect to an Accelerated Closing, Connector shall have the option of following the procedure set forth above, or, in the alternative, engaging the Company's independent certified public accountants to conduct an audit of the Company's financial statements for the twelve (12) consecutive accounting months for which the Closing EBITA was determined.
Upon its receipt of a Purchaser Proration Notice, the Seller may elect to hold the Closing on a day that is earlier than the last Business Day of the month in which the Purchaser Proration Notice is received by written notice to the Purchaser (a "Closing Acceleration Notice") no later than the second Business Day following the later of (i) the Seller's receipt of a Purchaser Proration Notice and (ii) the Accelerated Closing Trigger Date.
This Agreement shall terminate effective at 5 p.m., local time, three (3) business days after receipt by Buyer of Seller's Termination Notice ("TERMINATION DATE"), unless prior to such time and date Seller receives a notice in writing from Buyer waiving all of Buyer's rights to terminate this Agreement pursuant to Section 4.6 and committing to a Closing on the Accelerated Closing Date (as defined below), subject, however, to the provisions of Section 4.8(b).
The representation and warranties made by Seller herein shall not be applicable to, and expressly shall not survive, an Accelerated Closing pursuant to the provision of Section 3.2, but the provisions of the following two paragraphs of this Section 6 shall apply to any such Accelerated Closing.
The parties recognize and agree that if the Phase II Accelerated Closing has not occurred before April 1, 2009, Seller shall not be required to make the Initial Fund Payment, and if the Phase II Accelerated Closing has not occurred before May 13, 2009, Seller shall not be required to make the Second Fund Payment.
For the purposes of this Agreement, the term “Closing Date” shall mean the Scheduled Closing Date, the Buyer’s Extended Closing Date, the Seller’s Extended Closing Date or the Accelerated Closing Date, as applicable.
Upon its receipt of a Purchaser Proration Notice, the Seller may elect to hold the Closing on a day that is earlier than the last Business Day of the month in which the Purchaser Proration Notice is received by written notice to the Purchaser (a “Closing Acceleration Notice”) no later than the second Business Day following the later of (i) the Seller’s receipt of a Purchaser Proration Notice and (ii) the Accelerated Closing Trigger Date.