Common use of Completion simultaneous Clause in Contracts

Completion simultaneous. (a) Subject to clause 4.4(b), the actions to take place as contemplated by this clause 4 and Schedule 4 are interdependent and must take place, as nearly as possible, simultaneously. If one action does not take place, then without prejudice to any rights available to any party as a consequence: (1) there is no obligation on any party to undertake or perform any of the other actions; (2) to the extent that such actions have already been undertaken, the parties must do everything reasonably required to reverse those actions; and (3) the Seller and the Buyer must each return to the other all documents delivered to it under clause 4.2(a)4 and Schedule 4 and must each repay to the other all payments received by it under clause 4.2(a)4 and Schedule 4, without prejudice to any other rights any party may have in respect of that failure. (b) The Buyer may, in its sole discretion, waive any or all of the actions that the Seller is required to perform under paragraph 3.1 of Schedule 4 and the Seller may, in its sole discretion, waive any or all of the actions that the Buyer is required to perform under paragraph 3.2 of Schedule 4. 5 Completion Accounts

Completion simultaneous. (a) Subject to clause 4.4(b), the actions to take place at Completion as contemplated by this clause 4 and Schedule 4 are interdependent and must take placeand, as nearly as possibleunless otherwise stated, simultaneouslyall actions required to be performed by a party at Completion, once those actions are completed, are taken to have occurred simultaneously on the Completion Date. If one action does any obligation specified in this clause 4 is not take placeperformed on or before Completion then, then without prejudice to any limiting the rights available to any party as a consequence: (1) there is no obligation on any party to undertake or perform any of the other actions; (2) parties, Completion is taken not to have occurred and any document delivered, or payment made, under clause 4 must be returned to the extent party that such actions have already been undertaken, the parties must do everything reasonably required to reverse those actions; and (3) the Seller and the Buyer must each return to the other all documents delivered to it under clause 4.2(a)4 and Schedule 4 and must each repay to the other all payments received by it under clause 4.2(a)4 and Schedule 4, without prejudice to any other rights any party may have in respect of that failureor paid it. (b) The Buyer SPAC may, in its sole discretion, waive any or all of the actions that the Seller is Sellers are required to perform under paragraph 3.1 of Schedule 4 clause 4.2 and the Seller Representative, on behalf of the Sellers, may, in its sole discretion, waive any or all of the actions that the Buyer is required to perform under paragraph 3.2 of Schedule 4. 5 Completion Accountsclause 4.2.