Common use of Exchange of Class B Units Clause in Contracts

Exchange of Class B Units. (a) Subject to the provisions in this Article II and the provisions of the Vine Holdings LLC Agreement, each Investment Entity shall be entitled to exchange Class B Units (together with the same number of shares of Class B Common Stock) held by such Investment Entity at any time and from time to time. Each Investment Entity may surrender Class B Units (together with the same number of shares of Class B Common Stock) to Vine Holdings in exchange for either (i) the delivery by Vine Holdings of a number of shares of Class A Common Stock equal to the product of (A) such number of Class B Units surrendered multiplied by (B) the Exchange Rate or (ii), at the Issuer’s election, the delivery by Vine Holdings of cash equal to the Cash Election Amount calculated with respect to such Exchange (each, an “Exchange”). For the avoidance of doubt, if at any time an Investment Entity surrenders all of its Class B Units to Vine Holdings, it must concurrently surrender all shares of Class B Common Stock then held by it to Vine Holdings.

Exchange of Class B Units. (a) Subject to the provisions (x) adjustment as provided in this Article II and II, (y) the provisions of the Vine Holdings LLC AgreementAgreement and (z) the provisions of Section 2.2 hereof, each Vine Investment Entity shall be entitled to exchange Class B Units (together with the same number of shares of Class B Common Stock) held by such Vine Investment Entity at any time and from time to time. Each Vine Investment Entity may surrender Class B Units (together with the same number of and shares of Class B Common Stock) Stock to Vine Holdings in exchange for either (i) the delivery by Vine Holdings of a number of shares of Class A Common Stock equal to the product of (A) such number of Class B Units surrendered multiplied by (B) the Exchange Rate or (ii), at the Issuer’s election, the delivery by Vine Holdings of cash equal to the Cash Election Amount calculated with respect to such Exchange (each, an “Exchange”). For the avoidance of doubt, if at any time an Vine Investment Entity surrenders all of its Class B Units to Vine Holdings, it must concurrently surrender all shares of Class B Common Stock then held by it to Vine Holdings.