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"8.1 The Seller shall procure that Completion Accounts are delivered to the Buyer as soon as practicable after Completion, together with a calculation of the adjustment to the Purchase Price required under Clause 5.2, in accordance with Schedule 3.\n8.2 The Buyer shall procure the release of the Existing Guarantee in accordance with Schedule 3, and the Seller shall provide all assistance reasonably requested by the Buyer in connection with such release of the Existing Guarantee (at the Buyer\u2019s sole expense).\n8.3 The Buyer shall indemnify the Seller against any claim made under the Existing Guarantee in the period between Completion and the release of the Existing Guarantee as a condition subsequent to Completion in accordance with Clause 8.1 and Schedule 3 and all other reasonable costs and expenses (including legal fees) suffered or incurred by the Seller arising out of or in connection with any such claim (any such costs and expenses to be itemised accordingly).\n8.4 This indemnity shall not cover the Seller to the extent that a claim under it results from the Seller\u2019s negligence or wilful misconduct.\n8.5 If any third party makes a claim, or notifies an intention to make a claim, against the Seller which may reasonably be considered likely to give rise to a liability under this indemnity (a \u201cClaim\u201d), the Seller shall:\n(a) as soon as reasonably practicable, give written notice of the Claim to the Buyer, specifying the nature of the Claim in reasonable detail;\n(b) not make any admission of liability, agreement or compromise in relation to the Claim without the prior written consent of the Buyer (such consent not to be unreasonably conditioned, withheld or delayed);\n(c) give the Buyer and its professional advisers access at reasonable times (on reasonable prior notice) to its premises and its officers, directors, employees, agents, representatives or advisers, and to any relevant assets, accounts, documents and records within the power or control of the Seller, so as to enable the Buyer and its professional advisers to examine them and to take copies (at the Buyer\u2019s expense) for the purpose of assessing the Claim; and\n(d) be deemed to have given to the Buyer sole authority to avoid, dispute, compromise or defend the Claim.\n8.6 If a payment due from the Buyer under this clause is subject to tax (whether by way of direct assessment or withholding at its source), the Seller shall be entitled to receive from the Buyer such amounts as shall ensure that the net receipt, after tax, to the Seller in respect of the payment is the same as it would have been were the payment not subject to tax.", "hash": "622ebba30c58bb976584325515a141bb", "id": 5}, {"snippet_links": [{"key": "the-securities", "type": "definition", "offset": [3, 17]}, {"key": "issued-on", "type": "clause", "offset": [26, 35]}, {"key": "by-notice", "type": "clause", "offset": [122, 131]}, {"key": "party-a", "type": "definition", "offset": [137, 144]}, {"key": "party-b", "type": "definition", "offset": [148, 155]}, {"key": "prior-to-the-effective-date", "type": "clause", "offset": [156, 183]}, {"key": "the-parties-hereto", "type": "clause", "offset": [206, 224]}, {"key": "with-respect-to", "type": "clause", "offset": [297, 312]}, {"key": "this-transaction", "type": "clause", "offset": [313, 329]}, {"key": "respective-rights", "type": "clause", "offset": [340, 357]}, {"key": "no-payment", "type": "clause", "offset": [423, 433]}, {"key": "either-party", "type": "definition", "offset": [455, 467]}, {"key": "provided-that", "type": "definition", "offset": [469, 482]}, {"key": "release-and-discharge", "type": "clause", "offset": [502, 523]}, {"key": "the-rights", "type": "clause", "offset": [552, 562]}, {"key": "obligations-of-the-parties", "type": "clause", "offset": [579, 605]}, {"key": "other-obligations", "type": "clause", "offset": [634, 651]}, {"key": "due-and-payable", "type": "definition", "offset": [652, 667]}, {"key": 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"relevant-index", "type": "definition", "offset": [1247, 1261]}, {"key": "regular-trading-session", "type": "definition", "offset": [1282, 1305]}, {"key": "relevant-exchange", "type": "definition", "offset": [1313, 1330]}, {"key": "equity-definitions", "type": "definition", "offset": [1374, 1392]}, {"key": "replaced-with", "type": "clause", "offset": [1414, 1427]}, {"key": "official-closing-level", "type": "definition", "offset": [1443, 1465]}, {"key": "index-sponsor", "type": "definition", "offset": [1514, 1527]}, {"key": "scheduled-trading-day", "type": "definition", "offset": [1530, 1551]}, {"key": "to-publish", "type": "definition", "offset": [1606, 1616]}, {"key": "related-exchange", "type": "definition", "offset": [1654, 1670]}, {"key": "exchange-business-day", "type": "definition", "offset": [1740, 1761]}, {"key": "notwithstanding-the", "type": "definition", "offset": [1941, 1960]}, {"key": "exchange-closing", "type": "definition", "offset": [1969, 1985]}, {"key": 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Instrument", "score": 22.3122138977, "published": true}, {"hash": "1jEkIOfyZZA", "uri": "/contracts/1jEkIOfyZZA#condition-subsequent", "label": "Trust Instrument", "score": 20.7481174469, "published": true}], "size": 7, "snippet": "If the Securities are not issued on or before the Effective Date specified hereon, or such other date as may be specified by notice from Party A to Party B prior to the Effective Date, (the \u201cCut-off Date\u201d) the parties hereto will be released and discharged from any obligations owed to each other with respect to this Transaction and their respective rights against each other under this Transaction will be cancelled with no payment or delivery due from either party, provided that such cancellation, release and discharge shall not affect (i) any of the rights, liabilities or obligations of the parties with respect to payments or other obligations due and payable or due to be performed in respect of this Transaction on or prior to the Cut-off Date or (ii) any other rights or obligations of the parties under the Agreement. Please confirm that the foregoing correctly sets forth the terms of our agreement by executing the copy of this confirmation enclosed for that purpose and returning it to us. Yours Sincerely, p.p. By:\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 By:\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 Name: Name: Title: Authorised Signatory Title: Authorised Signatory By:\u2026\u2026\u2026\u2026\u2026\u2026\u2026. Component Security: Each component security of the Index. Amendment to Section 6.8(e): The words \"the level of the relevant Index at the close of the regular trading session on the relevant Exchange\" on lines 4 and 5 of Section 6.8(e) of the Equity Definitions shall be deleted and replaced with the words \"the official closing level of the Index as calculated and published by the Index Sponsor\". Scheduled Trading Day: Any day on which: (i) the Index Sponsor is scheduled to publish the level of the Index; and (ii) the Related Exchange is scheduled to be open for trading for its regular trading session. Exchange Business Day: Any Scheduled Trading Day on which: (i) the Index Sponsor publishes the level of the Index; and (ii) the Related Exchange is open for trading during its regular trading session, notwithstanding the Related Exchange closing prior to its Scheduled Closing Time. Valuation Time: (i) For the purposes of determining whether a Market Disruption Event has occurred: (a) in respect of any Component Security, the Scheduled Closing Time on the Exchange in respect of such Component Security, and (b) in respect of any options contracts or future contracts on the Index, the close of trading on the Related Exchange; and (ii) in all other circumstances, the time at which the official closing level of the Index is calculated and published by the Index Sponsor.", "hash": "03c4594c3ebc29a33ad6113fd6f7484a", "id": 8}, {"snippet_links": [{"key": "automatic-renewal", "type": "clause", "offset": [13, 30]}], "samples": [{"hash": "eQBs748Z5tH", "uri": "/contracts/eQBs748Z5tH#condition-subsequent", "label": "Loan and Security Agreement (Todays Man Inc)", "score": 18.0, "published": true}, {"hash": "ccRQwVkjfCd", "uri": "/contracts/ccRQwVkjfCd#condition-subsequent", "label": "Loan and Security Agreement (Majestic Star Casino LLC)", "score": 18.0, "published": true}], 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[["conditions-subsequent", "Conditions Subsequent", "Conditions Subsequent"], ["purchasers-conditions", "Purchaser\u2019s Conditions", "Purchaser\u2019s Conditions"], ["condition-to-closing", "Condition to Closing", "Condition to Closing"], ["waiver-of-closing-conditions", "Waiver of Closing Conditions", "Waiver of Closing Conditions"], ["conditions-precedent-and-subsequent", "Conditions Precedent and Subsequent", "Conditions Precedent and Subsequent"]], "related_snippets": [], "updated": "2026-03-22T06:22:11+00:00", "also_ask": ["What are the essential elements to include for a condition subsequent to be enforceable?", "How can parties strategically use conditions subsequent to allocate risk or incentivize performance?", "What are the most common pitfalls or fatal drafting flaws with conditions subsequent?", "How do courts typically interpret and enforce conditions subsequent compared to conditions precedent?", "What negotiation leverage does a condition subsequent provide, and how can it be balanced?"], "drafting_tip": "Specify triggering events precisely to avoid ambiguity; set clear timeframes for compliance to ensure enforceability; define consequences for non-fulfillment to clarify parties\u2019 obligations.", "explanation": "A Condition Subsequent is a contractual provision that specifies an event or circumstance which, if it occurs after the contract has been formed, will terminate one or more parties\u2019 obligations under the agreement. For example, a contract might state that if a certain regulatory approval is revoked, the parties are no longer required to perform their duties. This clause functions to allocate risk and provide clarity by defining specific situations that automatically end contractual responsibilities, thereby protecting parties from unforeseen changes that could make continued performance impractical or undesirable."}, "json": true, "cursor": ""}}