Exercise of Put Right. (a) As a condition precedent to the exercise of the Put Right on any given date, the Company and Founder must mutually agree that no gain or loss will be required to be recognized for U.S. federal tax purposes on account of such exercise and related Exchange (the “Put Right Condition”).
Appears in 3 contracts
Samples: Equity Exchange Right Agreement (Ibotta, Inc.), Equity Exchange Right Agreement (Compass, Inc.), Equity Exchange Right Agreement (DoorDash Inc)
Exercise of Put Right. (a) As a condition precedent to the exercise of the Put Right on any given date, the Company and Founder Executive must mutually agree that no gain or loss will be required to be recognized for U.S. federal tax purposes on account of such exercise and related Exchange (the “Put Right Condition”).
Appears in 2 contracts
Samples: Equity Exchange Right Agreement (Blend Labs, Inc.), Equity Exchange Right Agreement (Applovin Corp)
Exercise of Put Right. (a) As a condition precedent to the exercise of the Put Right on any given date, the Company and Founder must mutually agree on the value-for-value exchange ratio and that no gain or loss will be required to be recognized for U.S. federal tax purposes on account of such exercise and related Exchange (the “Put Right Condition”).
Appears in 1 contract
Samples: Equity Exchange Right Agreement (Recursion Pharmaceuticals, Inc.)
Exercise of Put Right. (a1) As a condition precedent to the exercise of the Put Right on any given date, the Company and Founder must mutually agree on the value-for-value exchange ratio and that no gain or loss will be required to be recognized for U.S. federal tax purposes on account of such exercise and related Exchange (the “Put Right Condition”).
Appears in 1 contract
Samples: Equity Exchange Right Agreement (Recursion Pharmaceuticals, Inc.)
