Common use of Change of Control of a Class B Member Clause in Contracts

Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective Date to the Class B COC Closing Date, of eleven percent (11%) (the “

Appears in 2 contracts

Samples: Limited Liability Company Agreement (NextEra Energy Partners, LP), Membership Interest Purchase Agreement (NextEra Energy Partners, LP)

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Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Flip Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective Date to the Class B COC Closing Date, of eleven eight and thirty-two hundredths of a percent (118.32%) (the “the

Appears in 2 contracts

Samples: Limited Liability Company Agreement (NextEra Energy Partners, LP), Membership Interest Purchase Agreement (NextEra Energy Partners, LP)

Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Flip Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety five (905) calendar days after Business Days prior to the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective applicable Acquisition Date of such Class B Unit to the Class B COC Closing Date, of eleven five and six hundred thirty-three thousandths percent (115.633%) (the “

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nextera Energy Partners, Lp)

Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Flip Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective applicable Acquisition Date of such Class B Unit to the Class B COC Closing Date, of eleven six and three quarters percent (116.75%) (the “

Appears in 1 contract

Samples: Limited Liability Company Agreement (NextEra Energy Partners, LP)

Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Flip Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety five (905) calendar days after Business Days prior to the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective applicable Acquisition Date of such Class B Unit to the Class B COC Closing Date, of eleven [five and sixty-one hundredths percent (115.61%) )] (the “

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nextera Energy Partners, Lp)

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Change of Control of a Class B Member. (a) If, at any time prior to the third (3rd) anniversary of the Effective Flip Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety five (905) calendar days after Business Days prior to the consummation of such date on which the Change of Control of such Class B MemberMember is expected to be consummated, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each Class B Unit for which such election is made, measured from the Effective applicable Acquisition Date of such Class B Unit to the Class B COC Closing Date, of eleven six and nine hundred thirty-one thousandths percent (116.931%) (the “

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nextera Energy Partners, Lp)

Change of Control of a Class B Member. (a) If, at any time prior to the third seventh (3rd7th) anniversary of the Effective Date, there is an announcement of a proposed Change of Control of a Class B Member or a Class B Member enters into any agreement providing therefor, then, commencing on the date of such announcement of a proposed Change of Control of a Class B Member or such entry into such agreement and ending on the date that is ninety (90) calendar days after the consummation of such Change of Control of such Class B Member, NEP Member shall have the right, but not the obligation, to acquire all or any portion of the outstanding Class B Units held by such Class B Member (in such capacity, the “COC Member”) at a purchase price that results in an Internal Rate of Return on each Class B Unit for each per Class B Unit for which such election is made, measured from the Effective Date to the Class B COC Closing Date, of eleven seven and seventy-seven hundredths of a percent (117.77%) (the “

Appears in 1 contract

Samples: Limited Liability Company Agreement (NextEra Energy Partners, LP)

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