„It`s time to see if we are able to make a deal or not. But I would like to make it very clear to everyone that we are not yet where we need to be on some of the most difficult issues. In a bold attempt to bring the AdamsDrafting blog into the Hall of Glory, reader Ben Diederick pointed out to me benavidez v. Benavidez, 145 p.3d 117 (2006 N.M. App.), a case in which the applicant argued that the conclusion of a real estate transaction took place with the signing of the deed of guarantee and not with the payment of the property by the applicant. These weren`t the alternative meanings I had in mind, but here on the AdamsDrafting blog, we reward that kind of insolence with a place in the Hall of Fame. Congratulations, Ben! The devil is in the details and the report acknowledges that Comcast and Apple are not really „close to a deal“. While discouraging at first, the failure to reach a deal with a pharmaceutical company created a remarkable opportunity for MVP. Government officials admit that they are not even on the verge of an agreement on the type of government that will take power on June 30. Leaders close to the talks said the two sides are not yet close to an agreement on a price for KLM.
Does Closing mean when a transaction is closed? Or is it the process that took place at that time, in which contracts were concluded and signed, opinions were expressed and funds were sent by the banking system? I suggest that it means both – in other words, closure is an example of lexical ambiguity. The proposed alternative meanings are reminiscent of the other meanings of enforcement that I discussed in this May 2007 blog post. A place in the AdamsDrafting Hall of Fame Blog is reserved for the first person who reports to me an argument in which the importance of the closure was thus questioned. In fact, TechCrunch understands that Nokia and Microsoft worked hard to make a deal, but there was still no dice. In order for one to consider a bit ambiguous, the alternative meanings for the reasonable reader must be obvious. I guess Benavidez`s complainant was more belligerent than reasonable. But in contracts, you have to do the extra mile to prevent someone from being given ammunition to someone who is looking for a fight. If, in a given transaction, closure means the closing of the transaction, you may want to say the same in the definition of closing or use that phrase instead of the word Close.
In this context, take into account the defined effective time term. It is used in merger agreements and is always defined as the date on which the act of merger is submitted to the competent Secretary of State or at a later date indicated in the merger document. . . .