What Does Closing Condition Mean?
A closing condition is an obligation that each party must satisfy in the time period between the acquisition agreement and actual closing.
A closing condition is an obligation that each party must satisfy in the time period between the acquisition agreement and actual closing.
Closing conditions are found in a purchase and sale agreement whereby both the target and acquirer have conditions that must be met or waived, and may also include joint conditions. Conditions may include any of the following:
Failure to meet any of the obligations gives either party the right to terminate the transaction.
Synonyms
Condition Precedent