Examples of Blocker Stock in a sentence
Except for a Transfer consummated in accordance with Section 7.3, no SKM Limited Partner or TCP Limited Partner, (a “Selling Limited Partner”), shall directly or indirectly, including by way of a transfer of Blocker Stock, Transfer Units for value (a “Sale”) to any other Person (each a “Prospective Buyer”) except in the manner and on the terms set forth in this Section 9.1.
Each Limited Partner that has issued Blocker Stock shall not engage in any business other than the holding of Units and shall have no assets or liabilities other than those associated with its ownership of Units or arrangements between holders of Blocker Stock of such Limited Partner.
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 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.
Blocker Seller owns of record and beneficially all of the Blocker Stock, and Blocker Seller has good and valid title to the Blocker Stock, free and clear of all Liens.