Purchase Agreement: Drop-Dead Date Extension for Government Shutdown Preventing HSR Approval | Practical Law

Purchase Agreement: Drop-Dead Date Extension for Government Shutdown Preventing HSR Approval | Practical Law

A Standard Clause that allows merging parties to extend a transaction's drop-dead date if a US federal government shutdown affects Hart-Scott-Rodino (HSR) Act antitrust review. This Standard Clause discusses when parties may want to include this clause, how including this clause affects closing, and the potential effect of a government shutdown 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: Drop-Dead Date Extension for Government Shutdown Preventing HSR Approval

by Practical Law Antitrust
Maintained • USA (National/Federal)
A Standard Clause that allows merging parties to extend a transaction's drop-dead date if a US federal government shutdown affects Hart-Scott-Rodino (HSR) Act antitrust review. This Standard Clause discusses when parties may want to include this clause, how including this clause affects closing, and the potential effect of a government shutdown 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.