Liquidity Offering definition
Examples of Liquidity Offering in a sentence
Except in connection with a payment in respect of a fractional share (as described in the final sentence of Section 11.3(a)), the Manager may elect Cash Settlement with respect to an Exchange of Exchangeable Units that are Class B Units only to the extent the Cash Settlement is funded by the proceeds (net of underwriting discounts and commissions) of a Liquidity Offering with respect to that Exchange.
Except in connection with a payment in respect of a fractional share (as described in the final sentence of Section 11.3(a)), the Manager or the Company, as applicable, may elect Cash Settlement with respect to an Exchange of Exchangeable Units that are Class C Units only to the extent the Cash Settlement is funded by the proceeds (net of underwriting discounts and commissions) of a Liquidity Offering with respect to that Exchange.
Except in connection with a payment in respect of a fractional share (as described in the final sentence of Section 11.3(a)), the Manager or the Company, as applicable, may elect Cash Settlement with respect to an Exchange of Exchangeable Units that are Class B Units only to the extent the Cash Settlement is funded by the proceeds (net of underwriting discounts and commissions) of a Liquidity Offering with respect to that Exchange.
For the avoidance of doubt, in the event the General Partner elects a Cash Settlement, a Liquidity Offering to fund such Cash Settlement will be initiated after the receipt by the General Partner of a Mandatory Exchange Notice or Elective Exchange Notice, as applicable, and the Cash Settlement will occur promptly after consummation of the Liquidity Offering.
The Parties agree that all underwriting discounts, commissions and other selling expenses, if any, and any and all legal fees and expenses (but only to the extent that a Party elects not to be represented by Newco counsel) incurred by a Party in relation to the Liquidity Offering shall be borne by such Party.