Local Closing definition

Local Closing means, with respect to a Deferred Market, the later of the consummation of the separation of any Deferred SpinCo Local Business in a Deferred Market and the transfer of the shares of the relevant Deferred Market entity to SpinCo or any SpinCo Subsidiary.

Local Closing has the meaning set forth in Section 3.01.

Local Closing means powered closing by intervention of the passenger.

Examples of Local Closing in a sentence

• This Section 2.04(c) shall apply mutatis mutandis to each Local Closing of a Deferred Organon Local Business.

• For the avoidance of doubt, if an occurrence date is after the Effective Time (or, with respect to any Deferred Baxalta Local Business, after the Local Closing Date), then no payment for any damages, costs of defense, or other sums with respect to such claim shall be available to Baxalta under such insurance policies.

• The Net Proceeds shall be paid in US Dollars converted from Local Currency using the Exchange Rate published two (2) days prior to the applicable Local Closing Date.

• Intercompany trade and other current payables and receivables (excluding the current portion of intercompany debt and notes) that exist as of immediately prior to the Effective Time (or, in the case of any Deferred Baxalta Local Business, as of immediately prior to the Local Closing Date) will be settled in the normal course of business under current customary terms that apply to non-intercompany trade payables and receivables.

• Any amount due under this Section 3.07 shall be paid in US Dollars within thirty (30) days of the filing of the relevant income Tax Return by the Local Abbott Entity that includes the Local Closing using the applicable Average Rate at the time such payment is made.

More Definitions of Local Closing

Local Closing means, as applicable, (i) with respect to a Deferred Market, the later of the consummation of the separation of any Deferred Organon Local Business in a Deferred Market and the transfer of the shares of the relevant Deferred Market entity to the Organon Group and (ii) with respect to an IOM Market, the termination of the operation by Merck of any activities of the Organon Business in the relevant IOM Market.

Local Closing shall have the meaning set forth in Section 2.4(b).

Local Closing means the transactions that occur on the Closing Date.

Local Closing means the closing of any Deferred Transfer.

Local Closing has the meaning set forth in SECTION 7.1 of this Agreement.

Local Closing means, as applicable, (i) with respect to a Deferred Market, the later of the consummation of the separation of any Deferred Organon Local Business in a Deferred Market and the transfer of the shares of the relevant Deferred Market entity to Organon or any Organon Subsidiary and (ii) with respect to an IOM Market, the termination of the operation by Merck of those covered activities of the Organon Business in the relevant IOM Market pursuant to the relevant Interim Operating Agreement.

Local Closing has the meaning set forth in Section 1.2(b).