Examples of Qualified IPO in a sentence
Qualified IPO Holders of a majority of NewCo Equity shall have the right to require NewCo to initiate and diligently pursue in good faith a qualified IPO process (with no primary offering and otherwise on terms to be agreed) at any time after the 2nd anniversary of the Restructuring Effective Date.
The rights and obligations of the Company Security Holders and the Company under Sections 2 (Board of Directors), 3 (Drag-Along Rights), 4 (Tag-Along Rights), 6 (Preemptive Rights), 7 (Conflicts of Interest), 8 (Additional Company Security Holders and Limitations on Transfers by Company Security Holders), 9 (Information Rights), 11 (Protective Covenants), and 23 (Issuances of Company Securities) shall terminate upon a Qualified IPO.
In addition, subject to the terms and conditions of this Section 5.1, each Series A Preferred Unit will, immediately following and conditioned upon the payment of the Make Whole Premium, be automatically converted into Common Units in the event of a Qualified IPO.
The Company shall mandatorily convert each Preference Shares into Equity Shares at the Conversion Ratio then in effect for such series upon the earlier of (i) immediately prior to the closing of a Qualified IPO, or(ii) the date, or the occurrence of an event, specified by vote or written consent or agreement of the Investors.
In the event of a Qualified IPO each holder of any Series A Preferred Unit shall be entitled to receive the Make Whole Premium in respect thereof, in cash, or if elected by the holder thereof, equity interests issued in such Qualified IPO, the number of which equity interests shall be determined by dividing such Make Whole Premium by the lesser of (i) the Series A Conversion Price then in effect, and (ii) the price per Unit implied by such Qualified IPO.