Examples of Exchanging Member in a sentence
This Agreement shall continue notwithstanding the consummation of a Direct Exchange and all governance or other rights set forth herein shall be exercised by the remaining Members and the Exchanging Member (to the extent of such Exchanging Member’s remaining interest in the Company).
The Exchange Notice shall specify the number of Class B Nonvoting Units (the “Exchanged Units”), that the Exchanging Member intends to have Pubco exchange on a one (1) for one (1) basis and a date (unless and to the extent that the Manager in its sole discretion agrees in writing to waive such time periods) on which exercise of the Direct Exchange shall be completed, which complies with the requirements set forth in Section 7.1(A) (the “Exchange Date”).
All consents and approvals of third parties required to be obtained or made prior to the Closing Date in order to permit the consummation of the transactions contemplated hereby to be consummated hereby without resulting in any breach, acceleration, default or other violation of any agreement or other contract to which KDA or any Exchanging Member is party or by which its respective assets are otherwise bound shall have been obtained or made prior to the Closing Date.
No Direct Exchange shall relieve such Exchanging Member of any prior breach of this Agreement.
No Exchange shall impair the right of the Exchanging Member to receive any distributions payable on the Common Units redeemed pursuant to such Exchange in respect of a record date that occurs prior to the Exchange Date for such Exchange.