Second Closing definition
Examples of Second Closing in a sentence
Further, until the Second Closing, without the Company Creditors’ consent, which shall not be unreasonably withheld, conditioned or delayed, the Company shall not materially increase operating expenses (including but not limited to payroll, leases, employee compensation (other than non-cash compensation), arrangements with consultants, advisors of other service providers) or cash outflows above the amounts set forth in Schedule 4.15(a).
The Purchaser shall at all times as of and after the Effective Date have sufficient cash on hand or other sources of immediately available funds (the “Purchaser Available Funds”) to enable him to timely fulfill and/or satisfy his payment and other financial obligations under this Agreement and the other Transaction Documents, including payment of the remaining Purchase Price at the Second Closing.