This is a simplified illustration of the events of replication following just the newly made DNA strands. The actual three-dimensional configuration of the replicating DNA molecule bound with the enzyme complex responsible for these events has been hypothesized to involve looping of the lagging strand such that the two strands are being replicated in a parallel fashion.
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Another animated presentation of this process can be found here (Thanks to Mark Griep's Lab at the University of Nebraska-Lincoln).