Sign and Close

Sign and Close refers to a situation in which parties to a transaction sign Definitive Transaction Documents and then, immediately, perform the actions necessary to consummate the underlying transaction. This is in contrast to a transaction in which there is a lapse in time between the signing of Definitive Transaction Documents and the consummation of the underlying transaction (and in such situations, the failure of a “Closing Condition” may prevent the transaction from ever being consummated).