Examples of Blocker Stock in a sentence
Upon payment for the Purchased Units and the Blocker Stock pursuant to the terms of this Agreement, the Sellers shall transfer to Buyer good and valid title to the Purchased Units and the Blocker Stock, free and clear of all Liens.
If the SKM Limited Partners consummate a proposed Sale described in the Drag Along Notice, each other holder of Units (each a “Participating Seller,” and, together with the selling SKM Limited Partners the “Drag Along Sellers”) shall be obligated to sell in the proposed Sale Units or shares of Blocker Stock representing the Drag Along Percentage of Units and/or shares of Blocker Stock held by such holder on the same terms and conditions (subject to Sections 9.3.4 and 9.3.5), as the SKM Limited Partners.
In the event the Selling Limited Partner shall be unable to obtain the inclusion of such entire number of Units and shares of Blocker Stock in the proposed Sale, the number of Units and shares of Blocker Stock to be sold in the proposed Sale shall be allocated among the Tag Along Sellers on a pro rata basis according to the number of Units (subject to Section 9.3.5) and shares of Blocker Stock held by each.
Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Buyer will purchase (a) from Holdings Seller, and Holdings Seller will sell to Buyer, the Purchased Units and (b) from Blocker Seller, and Blocker Seller will sell to Buyer, the Blocker Stock, in exchange for the Estimated Purchase Price (subject to adjustment pursuant to Section 2.4).
Other than the Purchased Units and the Blocker Stock, no Seller is the record, legal or beneficial owner of any other Equity Interests or securities convertible into or exchangeable for Equity Interests of any Group Company.