Incentive Repurchase Closing Clause Samples

Incentive Repurchase Closing. A closing of the purchase of Subject Incentive Interests pursuant to this Section 5.3 shall occur on a date not later than 60 days after Holdings LLC delivers the relevant notice of election pursuant to Section 5.3(b). Upon the closing, each holders of the Subject Incentive Interests shall deliver the documentation contemplated by Section 5.3(b), and Holdings LLC shall deliver to the Subject Incentive Holder (for itself and on behalf of any other holders of the Subject Incentive Interests) cash in an amount equal to the repurchase price determined in accordance with Section 5.3(a). A repurchase closing shall be deemed consummated if Holdings LLC makes available the consideration payable therefor at its principal place of business, notwithstanding any failure of the holders of the Subject Incentive Interests to deliver the documentation contemplated by Section 5.3(b), but no such closing shall relieve such holders of the obligation to deliver such documentation in accordance with this Section 5.3.