Examples of Class B Representative in a sentence
Each of the Members shall take all necessary or desirable actions reasonably requested by the Class B Representative in connection with the consummation of an IPO, including compliance with the requirements of all laws and regulatory bodies that are applicable or that have jurisdiction over such IPO.
Any such Monetization Sale shall be effected on the terms and conditions negotiated by the Class B Representative, including any terms imposing on the Members’ obligations with respect to reasonable and customary indemnities, escrows, holdbacks or other contingent obligations that are applicable to all Members equally.
Whereas non resident are subject toincome tax on Cambodian source income only.
During the Transition Period (as defined in the Holdco Bylaws): (i) each committee of the Holdco Board of Directors shall consist of three (3) persons, two (2) of whom shall be Class A Representatives and one (1) of whom shall be a Class B Representative, (ii) there shall be no increase in the number of executive officers of Holdco as set forth in Section 5.12(c), and (iii) no additional committees of the Board of Directors of Holdco may be created other than as specified in this Section 5.12(b).
To the fullest extent permitted by law, including Section 18-1101(e) of the Delaware Act, no Member or the Class B Representative shall be liable to the Company, any other Member or other holder of Units or any other Person for breach of duties (including fiduciary duties).
Any such Monetization Sale may be structured and accomplished as determined by the Class B Representative in its sole discretion, whether as a merger, consolidation, sale of all or any portion of the Units, corporate reorganization, sale of assets or otherwise.
In connection with any such Reorganization, each holder of Units shall receive, in exchange for the Units held by such holder, capital stock, options or other securities with substantially similar economic and other rights, privileges and preferences as the Units being exchanged had prior to the consummation of such Reorganization as reasonably determined by the Class B Representative and taking into account the equity value of the IPO Issuer implied by the price and amount of securities sold in the IPO.
The Members and Board agree to facilitate, as reasonably requested by the Class B Representative, any such Monetization Sale.
Additionally, at any time any Class B Preferred Units are outstanding, the Class B Representative shall have the right to enforce any right to claim a breach of an obligation relating to any Award Agreement by any Person holding Class D Incentive Units, including the provisions relating to non-competition, non-solicitation, confidentiality, non-disparagement and the devotion of substantial business time to the Company.
If a Class B Representative resigns or no longer holds a Beneficial Interest, the remaining Class B Representative shall replace such Class B Representative.