J. Closing Date_The Closing Date should be stated as On or Before... the Closing Date to provide flexibility to parties involved. Unless there are stated terms to the contrary or "timeline contingencies", it should also be stated the buyer and seller agree that the buyer has exclusive right to purchase said assets up to and including the Closing Date.
Selling Price & Terms _ Amount of cash down, interest rate and term as well as description of the security the buyer is providing the seller. Structure _ Is it an asset or stock sale? How is the sale price allocated among different elements of the sale such as non_compete clause and goodwill (this is important for tax reasons and is discussed in the next section).