Purchase Agreement: Antitrust Premerger Filing Deadline and Drop-Dead Date Extension for Government Closure | Practical Law

Purchase Agreement: Antitrust Premerger Filing Deadline and Drop-Dead Date Extension for Government Closure | Practical Law

A Standard Clause that allows merging parties to extend both the deadline for submitting Hart-Scott-Rodino (HSR) and other premerger antitrust filings and the drop-dead date if a governmental authority is closed or not accepting filings. This Standard Clause discusses when parties may want to include this clause and how including this clause affects closing. It also discusses the potential effect of a Federal Trade Commission (FTC) or Antitrust Division of the Department of Justice (DOJ) closure on HSR review, including on the initial waiting period and the process for Requests for Additional Information and Documentary Material (Second Requests). This Standard Clause has integrated notes with important explanations and drafting tips.

Purchase Agreement: Antitrust Premerger Filing Deadline and Drop-Dead Date Extension for Government Closure

by Practical Law Antitrust
MaintainedUSA (National/Federal)
A Standard Clause that allows merging parties to extend both the deadline for submitting Hart-Scott-Rodino (HSR) and other premerger antitrust filings and the drop-dead date if a governmental authority is closed or not accepting filings. This Standard Clause discusses when parties may want to include this clause and how including this clause affects closing. It also discusses the potential effect of a Federal Trade Commission (FTC) or Antitrust Division of the Department of Justice (DOJ) closure on HSR review, including on the initial waiting period and the process for Requests for Additional Information and Documentary Material (Second Requests). This Standard Clause has integrated notes with important explanations and drafting tips.