Closing Phase definition

Closing Phase means the phase that represents the completion of a project where all metrics are finalized, all deliverables are complete and accepted by client, and all remaining billing/invoicing takes place prior to project closure and acceptance.

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Examples of Closing Phase in a sentence

• The obligation to indemnify under this Section shall terminate on the later of January 1, 2040, or 15 years following the date of the Closing Phase that pertains to that parcel; provided, however, that the obligation shall not terminate as to Claims asserted in an action filed prior to the termination date.

• Developer and the Agency shall each use reasonable efforts to cause the applicable parties to complete the Initial Closing Phase promptly following the Effective Date.

• If a Park Transfer Closing Phase requires the quitclaim to the State by the Agency of its interest in the Park Addition or the Yosemite Slough Addition.

• The Parties acknowledge that, in accordance with the Public Trust Exchange Agreement, the governing body of State Lands (the State Lands Commission) must approve each Trust Exchange Closing Phase and State Lands may impose certain conditions before it approves a Trust Exchange Closing Phase, including but not limited to certain conditions required by SB 792.

• Notwithstanding anything in this DDA to the contrary, the Agency shall be under no obligation to acquire any Park Transfer Parcels, or to quitclaim the Park Addition or the Yosemite Slough Addition to the State, before Developer’s full satisfaction of all of the obligations required to effectuate the applicable Park Transfer Closing Phase.

• Without limiting the generality of any other conditions precedent to the Agency’s obligation to convey real property under this DDA, the Parties agree it is a condition precedent to the Agency’s obligation to convey any real property within the ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Site to Developer, and for Developer to take title to the same, that the Agency has acquired that portion of the ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Site, and that any necessary Trust Exchange Closing Phase and Park Transfer Closing Phase have been completed.

• Following the applicable Subsequent Closing Phase, the Agency shall convey to Developer that portion of the Non-Park Commission Land that has been designated for conveyance to Developer under the applicable Sub-Phase Approval, in accordance with Section 3.4.2.

• Any Subsequent Closing Phase for lands within the Old Stadium Development Site shall extinguish the Statewide Interest Restriction on lands in which the Public Trust is terminated.

• Neither Developer nor the Agency shall engage in any activities that would be reasonably expected to jeopardize the Agency’s ability to satisfy the conditions for the Public Trust Exchange or any Trust Exchange Closing Phase as set forth in SB 792 or the Public Trust Exchange Agreement.

• Following the Initial Closing Phase under the Public Trust Exchange, the Agency shall convey to Developer the Agency’s interest in the lands within the Parcel A Site that are free of the Public Trust and that have been designated for conveyance to Developer under the applicable Sub-Phase Approval.