Common use of Restrictions on Redemption Clause in Contracts

Restrictions on Redemption. Notwithstanding anything to the contrary contained in this Agreement, all redemptions of the Purchased Units by the Company pursuant to this Section 10 shall be subject to applicable restrictions contained in applicable Delaware limited liability company laws or such other governing law, applicable securities laws, and in the Company’s and any of its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit (i) the repurchase of Purchased Units hereunder that the Company is otherwise entitled to make or (ii) dividends or other transfers of funds from one or more Subsidiaries of the Company directly or indirectly to the Company to enable such redemptions, then the Company may make such redemptions as soon as it is permitted to make redemptions or receive funds from its Subsidiaries under such restrictions and all time periods set forth in this Section 10 shall be tolled accordingly.

Appears in 2 contracts

Samples: Incentive Unit Subscription Agreement (Cricut, Inc.), Zero Strike Incentive Unit Subscription Agreement (Cricut, Inc.)

AutoNDA by SimpleDocs

Restrictions on Redemption. Notwithstanding anything to the contrary contained in this Agreement, all redemptions of the Purchased vested Incentive Units by the Company pursuant to this Section 10 8 shall be subject to applicable restrictions contained in applicable Delaware limited liability company laws or such other governing law, applicable securities laws, and in the Company’s and any of its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit (i) the repurchase of Purchased vested Incentive Units hereunder that the Company is otherwise entitled to make or (ii) dividends or other transfers of funds from one or more Subsidiaries of the Company directly or indirectly to the Company to enable such redemptions, then the Company may make such redemptions as soon as it is permitted to make redemptions or receive funds from its Subsidiaries under such restrictions and all time periods set forth in this Section 10 8 shall be tolled accordingly.

Appears in 1 contract

Samples: Letter of Confidentiality (Cricut, Inc.)

AutoNDA by SimpleDocs

Restrictions on Redemption. Notwithstanding anything to the contrary contained in this Agreement, all redemptions of the Purchased Units Incentive Unit Equivalents by the Company pursuant to this Section 10 6 shall be subject to applicable restrictions contained in applicable Delaware limited liability company laws or such other governing law, applicable securities laws, and in the Company’s and any of its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit (i) the repurchase of Purchased Units Incentive Unit Equivalents hereunder that the Company is otherwise entitled to make or (ii) dividends or other transfers of funds from one or more Subsidiaries of the Company directly or indirectly to the Company to enable such redemptions, then the Company may make such redemptions as soon as it is permitted to make redemptions or receive funds from its Subsidiaries under such restrictions and all time periods set forth in this Section 10 6 shall be tolled accordingly.

Appears in 1 contract

Samples: Bonus Purchase Agreement (Cricut, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!