Closing Date Effect Clause Samples
The Closing Date Effect clause defines the legal and practical consequences that take effect on the date a transaction is finalized, commonly known as the closing date. This clause typically specifies when ownership, risk, and benefits of the subject matter—such as shares, assets, or property—are transferred from the seller to the buyer. For example, it may clarify that all liabilities and obligations arising after the closing date are the responsibility of the buyer. Its core function is to ensure clarity and certainty regarding the exact moment when rights and responsibilities shift between parties, thereby preventing disputes about post-closing events.
Closing Date Effect. All of the representations and warranties of Buyer are true and correct as of the Execution Date and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by Buyer on the Closing Date.
Closing Date Effect. All of the representations and warranties of each of the Shareholders are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date, with the same force and effect as if such representations and warranties were made by each of the Shareholders to the LifeQuest Parties on the Closing Date.
Closing Date Effect. All of the representations and warranties of the LifeQuest Parties are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by the LifeQuest Parties to WHB on the Closing Date.
Closing Date Effect. All of the representations and warranties of Seller and GST are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by Seller and GST to Buyer on the Closing Date.
Closing Date Effect. All of the representations and warranties of Buyer are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by Buyer to Seller and GST on the Closing Date.
Closing Date Effect. All of the representations and warranties of the Shareholders and the Company are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by the Shareholders and the Company to the Buyer on the Closing Date.
Closing Date Effect. All of the representations and warranties of the GST Companies are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by the GST Companies to the Company on the Closing Date.
Closing Date Effect. All of the representations and warranties of the ESOP are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by the ESOP to the Buyer on the Closing Date.
Closing Date Effect. All of the representations and warranties of Bekins are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by Bekins to Buyer and Acquisition Corp. on the Closing Date.
Closing Date Effect. All of the representations and warranties of the Sellers and PTI are true and correct as of the date hereof and shall be true and correct on and as of the Closing Date with the same force and effect as if such representations and warranties were made by the Sellers and PTI to the Buyer on the Closing Date.