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, 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.

Examples of Local Closing in a sentence

• 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.

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

• Prior to his AfDB experience, he was Global Head of the Project and Commodity Finance Loan Syndication team at UniCredit Group from 2002 to 2012 and also served as Manager in the European Energy and Utilities project and acquisition finance team at Dresdner Kleinwort Wasserstein where he worked from 1996 to 2001.

• Parent and SpinCo shall cooperate and SpinCo shall use commercially reasonable efforts to replace all Credit Support Instruments issued by Parent or other members of the Parent Group on behalf of or in favor of any member of the SpinCo Group or the SpinCo Business (the “ Parent CSIs”) as promptly as practicable with Credit Support Instruments from SpinCo or a member of the SpinCo Group as of the Effective Time (or, in the case of any Deferred SpinCo Local Business, as of the Local Closing Date).

• With respect to any outstanding checks issued by Merck, Organon, or any of their respective Subsidiaries prior to the Effective Time (or, in the case of any Transferred Entity transferred as part of a Deferred Organon Local Business, prior to the Local Closing Date), such outstanding checks shall be honored following the Effective Time (or, as applicable, following the Local Closing Date) by the Person owning the account on which the check is drawn.

More Definitions of Local Closing

Local Closing means powered closing by intervention of the passenger.

Local Closing has the meaning set forth in Section 4.2(c)(v).

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

Local Closing means the closing of any Deferred Transfer.

Local Closing means the closing of the transaction contemplated herein in the Main Territories.

Local Closing. At the Local Closing, the Seller shall cause KL2 to, and KL2 shall, execute with BASF Handels- und Export GmbH, and the Purchaser shall cause BASF Handels- und Export GmbH to, and BASF Handels- und Export GmbH shall, execute with KL2, in notarially recorded form (notariell beurkundet), an assignment agreement, substantially in the form attached as Exhibit E (the “Assignment Agreement”).”

Local Closing means closing under this Agreement;