Privatization Event. Upon the occurrence of a Privatization Event, the Partnership shall pay to such Holder of outstanding Warrants as of the date of such Privatization Event, an amount in immediately available funds equal to the Cash Redemption Value for such Warrants, not later than the date which is ten (10) Business Days after such Privatization Event and the Warrants shall thereafter be cancelled. The cash redemption value for any Warrant (the “Cash Redemption Value”) will equal the fair value of the Warrant as of the date of such Privatization Event as determined by an Independent Financial Expert. The Cash Redemption Value of the Warrants shall be due and payable within ten (10) Business Days after the date of the applicable Privatization Event.
Appears in 4 contracts
Samples: Warrant Agreement (Teekay Offshore Partners L.P.), Warrant Agreement (Teekay Offshore Partners L.P.), Warrant Agreement (Teekay Corp)
