Excepted Holders definition

Excepted Holders means any holder of Membership Interests of a Series for whom an Excepted Holder Limit is created by the Manager.
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Examples of Excepted Holders in a sentence

  • Therefore, Whitehall and/or Saracen, as applicable, and WCPT agree to cooperate in good faith to cause Whitehall and Saracen to become "Excepted Holders" before the Conversion Right is exercised or to deliver to Whitehall and/or Saracen, as applicable, cash instead of Shares upon such exercise equal in amount to the fair market value of the Shares that would otherwise have been delivered, but for the fact that Whitehall and/or Saracen, as applicable, is not an "Excepted Holder".

  • WHWEL, Whitehall XI, Holding Co., Saracen and/or Rand, as applicable, and WCPT acknowledge that WHWEL, Whitehall XI, Holding Co., Saracen and Rand are not "Excepted Holders" (as defined in Section 7.1 of the Declaration of Trust) and that, unless either becomes an "Excepted Holder", WHWEL's, Whitehall XI's, Holding Co.'s, Saracen's or Rand's Conversion Right may be limited.

  • WHWEL, Whitehall XI, Holding Co., Saracen and/or Rand, as applicable, and WCPT acknowledge that WHWEL, Whitehall XI, Holding Co., Saracen and Rand are not "Excepted Holders" (as defined in Section 7.1 of the Declaration of Trust) and that, unless either becomes an "Excepted Holder", WHWEL's, Whitehall XI's, Holding Co.'s, Saracen's Exhibit 10.50 Page 89 or Rand's Conversion Right may be limited.

  • For the avoidance of doubt, no Transfer of shares of Capital Stock by an Excepted Holder described in clause (b) of the definition thereof to another Excepted Holder described in such clause shall result in a modification to the Excepted Holder Limits of such Excepted Holders.

  • Whitehall and/or Saracen, as applicable, and WCPT acknowledge that Whitehall and Saracen are not "Excepted Holders" (as defined in Section 7.1 of the Declaration of Trust) and that, unless either becomes an "Excepted Holder", Whitehall's or Saracen's Conversion Right may be limited.

  • For the avoidance of doubt, each of the Excepted Holders shall be required to execute, and shall execute, a Lock-Up Agreement in connection with the Current Offering, whether or not they participate in the Current Offering.

Related to Excepted Holders

  • Excepted Holder means a Person for whom an Excepted Holder Limit is created by this Agreement or by the Manager pursuant to ‎Section 13.8.

  • Excepted Holder Limit means, provided that the affected Excepted Holder agrees to comply with the requirements established by the Board pursuant to Section 5.9(ii)(g), and subject to adjustment pursuant to Section 5.9(ii)(h), the percentage limit established by the Board pursuant to Section 5.9(ii)(g).

  • Permitted Holder means (a) ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, (b) any of his immediate family members or his or their respective heirs by operation of law, will or intestacy or (c) any trust, corporation, partnership or other entity, the beneficiaries, stockholders, partners, owners or Persons beneficially holding a 50.1% or more controlling interest of which consist of ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and/or his immediate family members.