Examples of Buyout Right in a sentence
Each of EQT and USG and their respective Affiliates (other than the Changing Member) shall have [***] Business Days, subject to any reasonable and necessary extension to obtain customary board approval, following the determination of [***] of such Membership Interest in which to notify each other Member and the Changing Member whether it desires to exercise its General Buy-out Right.
The Company shall have 15 Business Days following the determination of the Fair Market Value in which to notify the Members whether the Company desires to exercise its Buy-out Right.
If, however, the Change Purchasing Members are unable to reach such agreement during such three Business Day period, then the Buy-out Right shall be deemed to have been waived by the Change Purchasing Members.
Each Member (other than the Changing Member) shall have 15 Business Days following the determination of the Fair Market Value of such Membership Interest in which to notify the other Members (including the Changing Member) whether such Member desires to exercise its Buy-out Right.
If none of EQT or USG or their respective Affiliates exercises the General Buy-out Right, the Change of Control shall be effective and the successor in interest to the Changing Member shall be admitted as a Member upon compliance with Section 3.03(b)(iv).
Upon the exercise of its Collateral Split Buyout Right, each exercising Lender shall purchase its ratable share of the Buyout Loans by paying a purchase price to the selling Lenders equal to such exercising Lender’s ratable share of (i) the outstanding principal balance of the Buyout Loans on the date of assignment, plus (ii) the amount of unpaid interest accrued thereon through such date.
If the Change Purchasing Members are able to reach such agreement during such three Business Day period or if there is no longer a Change Unexercised Portion, then the Buy-out Right shall be deemed exercised by the Change Purchasing Members, and the Changing Member and the Change Purchasing Members shall close the acquisition of the Membership Interest in accordance with Section 9.04(b)(iii).
If more than one Lender desires to exercise its Collateral Split Buyout Right with respect to the Buyout Loans, it shall be entitled to purchase up to its ratable share (based on Percentages) of such Loans.
The case is expected to go to trial in 2015.Michael Edenborough QC appeared in Her Majesty’s Solicitor General vDodd [2014] FSR 27 (leading Thomas St Quintin), an application for committal for contempt of court.
The exercise of the RSU Buyout Right shall be conditional upon the satisfaction of, and in accordance with the requirements of, Section 76D of the Companies Act.