Common use of THE CLOSING AND CONSUMMATION DATE Clause in Contracts

THE CLOSING AND CONSUMMATION DATE. On the date of execution of the underwriting agreement (the "Underwriting Agreement") relating to the initial public offering of PalEx Common Stock (the "IPO"), the parties shall take all actions necessary (i) to effect the Merger (including, if permitted by applicable state law, the filing with the appropriate state authorities of the Certificates of Merger which shall become effective on the Consummation Date (as defined below)) and (ii) to effect the conversion and delivery of shares referred to in Section 2.2 (hereinafter referred to as the "Closing"); PROVIDED, HOWEVER, that such actions shall not include the actual completion of the Merger or the conversion and delivery of the shares referred to in Article II, which actions shall be taken on the Consummation Date. The Closing shall take place at a location mutually agreeable to the Company and PalEx. The date on which the Closing shall occur shall be referred to as the "Closing Date." On the Consummation Date, the Certificates of Merger shall be filed with the appropriate state authorities, or if already filed shall become effective, and all transactions contemplated by this Agreement shall occur and be deemed to be completed. The Consummation Date shall be the date on which the closing of the IPO occurs. During the period from the Closing Date to the Consummation Date, this Agreement may only be terminated by the parties if the Underwriting Agreement is terminated pursuant to the terms of such agreement or as otherwise expressly provided herein.

THE CLOSING AND CONSUMMATION DATE. On the date of execution of the underwriting agreement (the "Underwriting Agreement") relating to the initial public offering of PalEx Common Stock (the "IPO"), the parties shall take all actions necessary (i) to effect the Merger (including, if permitted by applicable state law, the filing with the appropriate state authorities of the Certificates of Merger which shall become effective on the Consummation Date (as defined below)) and (ii) to effect the conversion and delivery of shares referred to in Section 2.2 (hereinafter referred to as the "Closing"); PROVIDED, HOWEVER, that such actions shall not include the actual completion of the Merger or the conversion and delivery of the shares referred to in Article II, which actions shall be taken on the Consummation Date. The Closing shall take place at a location mutually agreeable to the Company and PalEx. The date on which the Closing shall occur shall be referred to as the "Closing Date." On the Consummation Date, the Certificates of Merger shall be filed with the appropriate state authorities, or if already filed shall become effective, and all transactions contemplated by this Agreement shall occur and be deemed to be completed. The Consummation Date shall be the date on which the closing of the IPO occurs. During the period from the Closing Date to the Consummation Date, this Agreement may only be terminated by the parties if the Underwriting Agreement is terminated pursuant to the terms of such agreement or as otherwise expressly provided herein.