Closing definition: Copy, customize, and use instantly
Introduction
The term "Closing" refers to the finalization of a transaction, typically involving the execution of documents, exchange of funds, and fulfillment of conditions precedent. It is essential for determining the point at which contractual obligations are completed, ownership transfers, and legal responsibilities take effect.
Below are various examples of how "Closing" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Closing" as the completion of a transaction
This definition "Closing" ties "Closing" to the finalization of an agreement.
"Closing" means the date and time at which all conditions precedent to the transaction have been satisfied or waived, and the parties execute and deliver the final transaction documents.
Definition of "Closing" as the transfer of ownership
This definition "Closing" connects "Closing" to the moment ownership legally changes hands.
"Closing" refers to the point at which title to the assets or securities subject to the Agreement is transferred to the Buyer in exchange for the agreed-upon consideration.
Definition of "Closing" as the execution of legal documents
This definition "Closing" links "Closing" to document finalization.
"Closing" means the execution, delivery, and exchange of all necessary agreements, certificates, and instruments required to consummate the transaction.
Definition of "Closing" as the satisfaction of conditions precedent
This definition "Closing" ensures "Closing" only occurs when all prerequisites are met.
"Closing" shall occur upon the satisfaction or waiver of all conditions precedent set forth in this Agreement, including regulatory approvals, financing arrangements, and due diligence completion.
Definition of "Closing" as a scheduled event
This definition "Closing" applies "Closing" to a specified date and time.
"Closing" means the completion of the transaction at 10:00 a.m. (local time) on the date agreed upon by the parties or such other time as mutually determined.
Definition of "Closing" as the final step in a merger or acquisition
This definition "Closing" links "Closing" to corporate restructuring.
"Closing" refers to the final step in a merger, acquisition, or business combination, at which time all required approvals have been obtained, and consideration is exchanged.
Definition of "Closing" as a real estate settlement
This definition "Closing" applies "Closing" to property transactions.
"Closing" means the process by which a real estate transaction is finalized, including the signing of deeds, mortgage documents, and the disbursement of funds.
Definition of "Closing" as the conclusion of financing transactions
This definition "Closing" associates "Closing" with loan agreements.
"Closing" shall mean the execution of loan documentation, funding of the credit facility, and satisfaction of all lender requirements.
Definition of "Closing" as the formal conclusion of a business deal
This definition "Closing" ensures "Closing" marks the deal’s legal completion.
"Closing" refers to the formal conclusion of the business deal, including the transfer of assets, payment of purchase price, and fulfillment of all necessary contractual obligations.
Definition of "Closing" as a stock purchase transaction
This definition "Closing" applies "Closing" to equity acquisitions.
"Closing" means the date on which the Buyer acquires legal and beneficial ownership of the Shares, and all consideration is exchanged in accordance with this Agreement.
Definition of "Closing" as the exchange of consideration
This definition "Closing" ties "Closing" to the final payment exchange.
"Closing" means the completion of the transaction upon the exchange of agreed-upon consideration, whether in cash, securities, or other assets.
Definition of "Closing" as a regulatory-compliant process
This definition "Closing" ensures compliance with laws and regulations.
"Closing" shall occur only upon receipt of all required governmental and regulatory approvals necessary to effectuate the transaction.
Definition of "Closing" as a tax-effective event
This definition "Closing" ties "Closing" to tax obligations.
"Closing" means the moment at which the transaction is deemed effective for tax and accounting purposes.
Definition of "Closing" as a milestone in an investment round
This definition "Closing" applies to venture capital or private equity deals.
"Closing" refers to the moment when investment funds are disbursed, and the agreed equity or securities are issued to the Investor.
Definition of "Closing" as an escrow release event
This definition "Closing" links "Closing" to the disbursement of escrowed funds.
"Closing" means the release of escrowed funds or securities upon the fulfillment of all closing conditions set forth in this Agreement.
Definition of "Closing" as a lease commencement condition
This definition "Closing" applies to lease transactions.
"Closing" means the execution and delivery of the lease agreement and satisfaction of all required conditions precedent.
Definition of "Closing" as a bankruptcy exit event
This definition "Closing" applies to restructuring or reorganization.
"Closing" refers to the effective date of a bankruptcy exit plan, at which point assets are transferred, and creditors receive distributions in accordance with the confirmed plan.
Definition of "Closing" as the completion of a joint venture agreement
This definition "Closing" applies to partnership agreements.
"Closing" means the execution of all joint venture documents, the contribution of capital or assets, and the commencement of joint operations.
Definition of "Closing" as the completion of an insurance settlement
This definition "Closing" applies to claims resolutions.
"Closing" means the finalization of an insurance claim settlement, including the execution of release agreements and payment of claim proceeds.
Definition of "Closing" as the finalization of a purchase agreement
This definition "Closing" applies to the execution and completion of a sale.
"Closing" means the completion of the purchase and sale transaction, including the execution of all required documents and the transfer of ownership or funds as specified in the Agreement.
Definition of "Closing" as the date on which contractual obligations become binding
This definition "Closing" ensures clarity on when obligations take effect.
"Closing" refers to the date on which all conditions precedent have been fulfilled or waived, and the transaction is consummated in accordance with the terms of the Agreement.
Definition of "Closing" as the final settlement in a real estate transaction
This definition "Closing" applies to property sales.
"Closing" means the process by which legal title to the property is transferred, all necessary payments are made, and any outstanding conditions under the purchase agreement are satisfied.
Definition of "Closing" as the culmination of a merger or acquisition
This definition "Closing" applies to corporate transactions.
"Closing" refers to the time at which all conditions precedent to the acquisition or merger have been met, and the transfer of shares, assets, or interests is completed.
Definition of "Closing" as the completion of financing or loan disbursement
This definition "Closing" applies to lending agreements.
"Closing" means the date on which loan proceeds are disbursed, all required documents are executed, and all conditions set forth in the financing agreement have been satisfied.
Definition of "Closing" as the point at which escrow conditions are met
This definition "Closing" focuses on escrow-based transactions.
"Closing" refers to the moment when escrow conditions have been satisfied, funds have been released, and ownership or rights have been transferred in accordance with the Agreement.
Definition of "Closing" as the execution of final agreements in a business transaction
This definition "Closing" covers various types of business deals.
"Closing" means the formal completion of a business transaction, including the signing of all necessary agreements and the fulfillment of all closing conditions.
Definition of "Closing" as the moment financial settlements are completed
This definition "Closing" applies to financial obligations.
"Closing" refers to the time when all required payments, adjustments, and final reconciliations are completed as stipulated in the Agreement.
Definition of "Closing" as the effective date of a restructuring or recapitalization
This definition "Closing" applies to corporate finance.
"Closing" means the date on which all conditions for a restructuring, recapitalization, or reorganization have been fulfilled, and the transaction becomes legally effective.
Definition of "Closing" as the point at which regulatory approvals are finalized
This definition "Closing" applies to transactions requiring government or agency approval.
"Closing" refers to the time when all regulatory consents, approvals, and filings have been completed, allowing the transaction to take full effect.
Definition of "Closing" as the conclusion of obligations under a contract
This definition "Closing" applies broadly to contractual relationships.
"Closing" means the final stage of a contractual process, at which all parties have performed their obligations, and any remaining formalities have been completed.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.