Common use of Right to Acquire Units Clause in Contracts

Right to Acquire Units. Notwithstanding any other provision of this Agreement, if at any time less than 10% of the total Units of any series or class then Outstanding are held by Persons other than the Principals and Persons Controlled by the Principals, the Company shall then have the right, which right it may assign and transfer in whole or in part to any Affiliate, exercisable in its sole discretion, to purchase all, but not less than all, of such Units of such series or class then Outstanding held by Persons other than the Principals and Persons Controlled by the Principals, at the greater of (a) the Current Market Price as of the date three days prior to the date that the notice described in Section 13.2 is mailed and (b) the highest price paid by the Company or any of its Affiliates for any Unit of such series or class purchased during the 90-day period preceding the date that the notice described in Section 13.2 is mailed.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement (Oaktree Capital Group, LLC)

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Right to Acquire Units. (a) Notwithstanding any other provision of this Agreement, if at any time less not more than 1020% of the total Units of any series or class then Outstanding are held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, the Company General Partner shall then have the right, which right it may assign and transfer in whole to the Partnership or in part to any AffiliateAffiliate of the General Partner, exercisable in its sole discretion, to purchase all, but not less than all, of such the Units of such series or class then Outstanding held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, at the greater of (ax) the Current Market Price as of the date three days prior to the date that the notice described in Section 13.2 17.1(b) is mailed mailed, and (by) the highest cash price paid by the Company General Partner or any of its Affiliates for any such Unit of such series or class purchased during the 90-day period preceding the date that the notice described in Section 13.2 17.1(b) is mailed.

Appears in 2 contracts

Samples: Star Gas Partners Lp, Star Gas Partners Lp

Right to Acquire Units. (a) Notwithstanding any other provision of this Agreement, if at any time less not more than 1020% of the total Units of any series or class then Outstanding are held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, the Company General Partner shall then have the right, which right it may assign and transfer in whole to the Partnership or in part to any AffiliateAffiliate of the General Partner, exercisable in its sole discretion, to purchase all, but not less than all, of such the Units of such series or class then Outstanding held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, at the greater of (ax) the Current Market Price as of the date three days prior to the date that the notice described in Section 13.2 17.1(c) is mailed mailed, and (by) the highest cash price paid by the Company General Partner or any of its Affiliates for any such Unit of such series or class purchased during the 90-day period preceding the date that the notice described in Section 13.2 17.1(c) is mailed.

Appears in 1 contract

Samples: Star Gas Finance Co

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Right to Acquire Units. (a) Notwithstanding any other provision of this Agreement, if at any time less not more than 1020% of the total Units of any series or class then Outstanding are held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, the Company Table of Contents General Partner shall then have the right, which right it may assign and transfer in whole to the Partnership or in part to any AffiliateAffiliate of the General Partner, exercisable in its sole discretion, to purchase all, but not less than all, of such the Units of such series or class then Outstanding held by Persons other than the Principals General Partner and Persons Controlled by the Principalsits Affiliates, at the greater of (ax) the Current Market Price as of the date three days prior to the date that the notice described in Section 13.2 17.1(b) is mailed mailed, and (by) the highest cash price paid by the Company General Partner or any of its Affiliates for any such Unit of such series or class purchased during the 90-day period preceding the date that the notice described in Section 13.2 17.1(b) is mailed.

Appears in 1 contract

Samples: Star Group Lp

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