Closing and Documentation Sample Clauses
The Closing and Documentation clause outlines the procedures and requirements necessary to finalize a transaction or agreement. It typically specifies the documents that must be prepared, signed, and exchanged by the parties, as well as the timing and location of the closing event. This clause ensures that all legal and administrative steps are completed properly, thereby formalizing the agreement and reducing the risk of misunderstandings or incomplete obligations.
Closing and Documentation. The Parties intend that a closing of the Definitive Agreement shall occur on or before three (3) months from execution of this Letter Agreement, at a time and place that is mutually acceptable to the Parties. Group II or its representatives shall prepare and revise the initial drafts of the necessary agreements.
Closing and Documentation. The Deposit (together with interest earned thereon) shall be released to the Seller, and the Buyer shall pay the balance of the Purchase Price in full, to an account of the Seller (to be notified to the Buyer by the Seller not later than fifteen (15) calendar days prior to Closing) on Closing such that, at Closing, the Seller receive the full Purchase Price (free of bank and other charges and withholdings). The Closing shall be within thirty (30) calendar days after all of the conditions specified in Clause 13 hereof have been fulfilled and the Unit is ready for delivery in accordance with the terms and conditions of this Agreement. The place of documentary closing shall be the Seller’s offices (or at such other place as the Buyer and the Seller may mutually agree). On the date that the Closing occurs (hereinafter called the “Closing Date”), in exchange for payment of the Purchase Price as set forth above and for the other payments required by this Agreement to be made at Closing (including without limitation pursuant to Clause 4), the Seller shall ensure that the Buyer receive the following delivery documents for the Unit:
a) a Legal ▇▇▇▇ of Sale, warranting that the Unit is free from all encumbrances and maritime liens or any other debts or claims whatsoever, duly notarially attested and apostilled and in a form acceptable to the Vanuatu flag;
b) if the Unit is registered in a Ship Registry, a Certificate of Ownership issued by the relevant Ship Registry and dated not more than five (5) calendar days prior to the Closing; and
c) if the Unit is registered as above, a Certificate issued by the relevant Ship Registry stating that the Unit is free from registered encumbrances and dated not more than five (5) calendar days prior to Closing. At the time of delivery the Buyer and Seller shall sign and deliver to each other a Protocol of Delivery and Acceptance confirming the date, time and location (including coordinates) of delivery of the Unit from the Seller to the Buyer.
Closing and Documentation. The obligation of Lender to make the Loan under this Agreement is subject to the following conditions precedent wherein each document to be delivered to Lender shall be in form, substance, and detail satisfactory to Lender, in its sole discretion: