Extended Long Stop Date Sample Clauses
The Extended Long Stop Date clause sets a new, later deadline for the completion of a contract or transaction if the original long stop date cannot be met. Typically, this clause is triggered when certain conditions precedent or regulatory approvals are delayed, allowing the parties to agree on an additional period to fulfill outstanding obligations. Its core function is to provide flexibility and prevent automatic termination of the agreement due to unforeseen delays, thereby reducing the risk of the deal collapsing solely because of timing issues.
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Extended Long Stop Date. The Parties acknowledge that the Long Stop Date may be extended once for an additional term of nine months in order to satisfy the First Closing Conditions Precedent at the sole discretion of either the Seller or the Buyer (such later date the “Extended Long Stop Date”). In the event that the Long Stop Date is so extended, references made in this Agreement to the Long Stop Date will be understood to be the Extended Long Stop Date.