“Often a condition will be waived and the agreement rewritten to require that it be completed on a post-closing basis. This is often referred to as a post-closing condition—an inaccurate name, as a technical matter, because such a requirement is no longer a condition to performance. Instead, it has been converted into a covenant that one party must perform or else suffer the consequences for breach.”


Charles M. Fox, Working With Contracts: What Law School Doesn't Teach You
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