Overview of Closing Agenda

 

What is this document?

A Closing Agenda is a document that is often used in order to structure a transaction. It works as a checklist to determine what steps and documents are required in order to close the transaction. The Closing Agenda may include the parties, time and place of the closing, documents to be delivered by each party and who is required to sign each document.

 

When would I use this document?

Closing Agendas are useful for transactions that require large numbers of documents including real estate transactions, share and asset purchase transactions, and corporate reorganizations. These type of transactions can require dozens of documents and without a closing agenda it can be difficult to keep track of all the documents. Closing Agendas help the parties and their professional advisors to understand which documents are required for the transaction, which party is drafting the documents, which documents have been drafted, and who is responsible for executing (signing) the documents. The Closing Agenda should be continuously updated throughout the transaction.

 

Who signs this document?

Closing Agendas do not require signatures.

 

More details about this document

Closing Agendas can range in length depending on the complexity of the transaction and the number of documents required.

 

What are the core elements of this document?

The core elements include: Parties, Counsel, Effective Date and Closing Date. The columns will include the name of the document, who is preparing it, status of completion, and who must sign the document. The closing agenda will organize the documents in the order in which they must be take effect to complete the transaction.

 

Related Documents

Asset Purchase Agreement – an agreement for the sale of the assets of a business

Receipt of Payment and Release of Obligations – once final payment has been made for the shares the seller can sign this document acknowledging full payment and releasing the purchaser from claims by the seller

Shareholders’ Resolution –  a resolution by the shareholders approving a transaction or decision, or electing directors

Directors’ Resolution – major decisions (or other decisions as required in a shareholders’ agreement) will need to be ratified by the directors of the corporation

Share Purchase Agreement – an agreement for the sale of shares

 

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