Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date, of all Tax Benefit Payments that would be required to be paid by the Corporation to such Member, whether payable with respect to Units that were Exchanged prior to or on the Early Termination Effective Date, or are deemed to be Exchanged on the Early Termination Effective Date pursuant to the Valuation Assumptions, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an Early Termination Payment shall be made to each Member, regardless of whether such Member has Exchanged all of its Units as of the Early Termination Effective Date.
Appears in 5 contracts
Samples: Tax Receivable Agreement, Tax Receivable Agreement (Amneal Pharmaceuticals, Inc.), Tax Receivable Agreement (Amneal Pharmaceuticals, Inc.)
Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date, of all Tax Benefit Payments that would be required to be paid by the Corporation PC Corp to such Member, whether payable with respect to LTIP Units that were Exchanged converted to Common Units, or Common Units that were Exchanged, prior to the Early Termination Effective Date or on or after the Early Termination Effective Date, or are deemed to be Exchanged on the Early Termination Effective Date pursuant to the Valuation Assumptions, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an Early Termination Payment shall be made to each Member, regardless of whether such Member has converted all of such Member’s LTIP Units to Common Units, if applicable, and otherwise Exchanged all of its Common Units as of the Early Termination Effective Date.
Appears in 2 contracts
Samples: Tax Receivable Agreement (Cresco Labs Inc.), Tax Receivable Agreement
Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date, of all Tax Benefit Payments that would be required to be paid by the U.S. Corporation to such Member, whether payable with respect to Class C-1 Units that were Exchanged converted to Common Units, or Common Units that were Exchanged, prior to the Early Termination Effective Date or on or after the Early Termination Effective Date, or are deemed to be Exchanged on the Early Termination Effective Date pursuant to the Valuation Assumptions, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an Early Termination Payment shall be made to each Member, regardless of whether such Member has converted all of such Member’s Class C-1 Units to Class C-1 Units, if applicable, and otherwise Exchanged all of its Common Units as of the Early Termination Effective Date.
Appears in 2 contracts
Samples: Tax Receivable Agreement (Acreage Holdings, Inc.), Tax Receivable Agreement
Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date, of all Tax Benefit Payments that would be required to be paid by the Corporation to such Member, whether payable with respect to Units that were Exchanged prior to or on the Early Termination Effective Date, Date or are deemed to be Exchanged on the Early Termination Effective Date pursuant to the Valuation Assumptions, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an Early Termination Payment shall be made to each Member, regardless of whether such Member has Exchanged exchanged all of its Units as of the Early Termination Effective Date.
Appears in 1 contract
Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date, of all Tax Benefit Payments that would be required to be paid by the Corporation PC Corp to such Member, whether payable with respect to LTIP Units that were Exchanged converted to Common Units, or Common Units that were Exchanged, prior to the Early Termination Effective Date or on or after the Early Termination Effective Date, or are deemed to be Exchanged on the Early Termination Effective Date pursuant to the Valuation Assumptions, beginning from the Early Termination Effective Date and using the Valuation Assumptions. .For the avoidance of doubt, an Early Termination Payment shall be made to each Member, regardless of whether such Member has converted all of such Member's LTIP Units to Common Units, if applicable, and otherwise Exchanged all of its Common Units as of the Early Termination Effective Date.
Appears in 1 contract
Samples: Tax Receivable Agreement (MedMen Enterprises, Inc.)