The circumstances which, if satisfied, enable a financing to be finalized. In a private placement, this is common where Investors commit to the terms of the offering, subject to completing their due diligence. This can relate either to a debt, equity, or real estate offering.
The closing of the investment (when investor funds are transferred to the Issuer) is subject to customary pre-conditions, including but not limited to:
• Completion of due diligence to the satisfaction of the investors;
• Negotiation and execution of definitive agreements customary in transactions of this nature;
• Negotiation and execution of a formal distribution agreement;
• Receipt of all required authorizations, approvals and consents;
• Delivery of customary closing certificates; and
• The absence of material adverse changes with respect to the Company.
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