Initial Right definition

Initial Right means a right issued to Host Marriott/Delaware in exchange for contributions of assets to the Partnership, and held by Host Marriott/Maryland on the date hereof, entitling the holder thereof to receive, at the holder's election, a Class A Unit (or a fraction of a Class A Unit as specified therein) or a specified amount of cash. "IRS" means the Internal Revenue Service, which administers the internal revenue laws of the United States. "Limited Partner" means any Person named as a Limited Partner of the Partnership in Exhibit A, as such Exhibit may be amended from time to time, or any Substituted Limited Partner or Additional Limited Partner, in such Person's capacity as a Limited Partner in the Partnership. "Limited Partnership Interest" means a Partnership Interest of a Limited Partner of the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partnership Interest may be expressed as a number of Units. "Liquidating Event" has the meaning set forth in Section 14.1. "Liquidator" has the meaning set forth in Section 14.2.A. A-7
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Examples of Initial Right in a sentence

  • The Representative may elect, in its sole and absolute discretion, not to exercise its Initial Right of First Refusal or Subsequent Right of First Refusal with respect to any Subject Transaction; provided that any such election by the Representative shall not adversely affect the Representative’s Initial Right of First Refusal or Subsequent Right of First Refusal with respect to any other Subject Transaction during Initial ROFR Period or the Subsequent ROFR Period, respectively.

  • Commencing as of the date hereof and continuing until the last day of the twenty-fourth (24th) month anniversary of the Lease Commencement Date ("Initial Right of First Refusal Period"), Tenant shall have an ongoing (subject to the terms hereof) right of first refusal with respect to space located on the eighteenth (18th) floor of the Building (the "First Refusal Space").

  • Neither NOVAVAX nor ESPRIT may agree to settle pursuant to Section 5.3.2 (NOVAVAX’s Initial Right), Section 5.3.3 (Recovery) or Section 5.3.4 (ESPRIT’s Second Right) without the prior written consent of the other Party, which shall not be unreasonably withheld or delayed.

  • In consideration for such waivers, such employees will receive a number of Brunswick Life Fitness Participation Rights ("Rights") equal to the number of partnership interests purchasable upon exercise of such Waived Options less a number equal to the aggregate exercise price of such Waived Options divided by the Initial Right Value (as hereinafter defined).

  • On the closing date of the Merger, Executive shall have the right (the "Initial Right") to purchase 1335.9908 shares of Class A Common Stock of Holdings (the "Shares") on the same economic terms with the common equity investment in Holdings of GEI II, but subject to repurchase and other terms as described herein.

  • If the Representative fails to exercise its Initial Right of First Refusal or Subsequent Right of First Refusal with respect to any Subject Transaction within ten (10) Business Days after the mailing of such written notice, then the Representative shall have no further claim or right with respect to the Subject Transaction.

  • After such Initial Right of First Refusal Period, Tenant's right of first refusal shall be a one-time right of first refusal.

Related to Initial Right

  • Burial right means a right of earth interment.

  • Commercial Rights means any and all rights of a commercial nature connected with the Event including, without limitation, broadcasting rights, sponsorship rights, merchandising and licensing rights, ticketing rights, promotional rights, catering and hospitality rights, New Media rights and interactive games rights;

  • Preferential Rights means any right or agreement that enables any Person to purchase or acquire any Asset or any interest therein or portion thereof as a result of or in connection with (a) the sale, assignment or other transfer of any Asset or any interest therein or portion thereof, or (b) the execution or delivery of this Agreement or the consummation or performance of the terms and conditions contemplated by this Agreement.

  • Original Rights shall have the meaning set forth in Section 1(f)(i) hereof.

  • Additional Rights will have the meaning set forth in Section 2.4(d).