The Closing (the “ Closing ”) shall take place by electronic communication 7 business days, meaning a day other than a Saturday or a Sunday or holidays, on which banks are open for business in Copenhagen and New York City, after all of the closing conditions set forth in Article 5 of this Agreement have been either satisfied or waived, or on such other date as may be mutually agreed upon by the Parties (“ Closing Date ”); provided, however, that the Closing shall take place on or before October 31, 2016 unless otherwise agreed to by the Parties.