Post-signing and pre-closing conditions

{
  "id": "MLC-T-ENV-021717",
  "term": "Post-signing and pre-closing conditions",
  "field": "Environment",
  "term_source": "Post-Signing and Pre-Closing Conditions",
  "definition": "A risk allocation tool used in property transactions which involves the requirement that some act be performed by a party to an agreement before closing the transaction. It establishes certain conditions that must be met, typically by the seller, prior to closing, and it may allow a party to \"back out\" of deal or adjust purchase price or other terms, if conditions not met.",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Insurance and Risk Management Tools Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/post-signing-and-pre-closing-conditions/"
}