The closing (the “ Closing ”) of the transactions contemplated by this Agreement (the “ Transactions ”) shall take place on the Effective Date (as defined below) at such location to be determined by e-Marine and the Parent, commencing upon the satisfaction or waiver of all conditions and obligations of the Parties to consummate the Transactions contemplated hereby, as more fully set forth in Article VI herein (other than conditions and obligations with respect to the actions that the respective Parties will take at Closing) or such other date and time as the Parties may mutually determine (the “ Closing Date ”). For purposes hereof, the effective date of the Closing (the “ Effective Date ”) shall be at the time of satisfaction, in full, of the conditions set forth in Article VI.