Liquidity Redemption definition
Liquidity Redemption has the meaning assigned to it in the Governance Agreement.
Liquidity Redemption has the meaning set forth in Section 5.1.
Liquidity Redemption means the receipt by DSO and the DSO Related Entities of redemption proceeds associated with the redemption by DSO and the DSO Related Entities, as applicable, of all of their liquid balances in the investment funds or accounts managed by the Och-Ziff Group (other than their liquid balances in the OZ Credit Opportunities Master Fund, Ltd.), for which redemption notices have been delivered to effect such redemptions for the quarters ended December 31, 2018 and March 31, 2019. For the avoidance of doubt, the Liquidity Redemption will exclude (x) funds in wind-down, (y) investments designated as “side pocket” investments and (z) holdbacks (including audit holdbacks), which, in the case of clauses (y) and (z), shall be designated and reserved, as applicable, in accordance with the applicable fund documents.
Examples of Liquidity Redemption in a sentence
On the 30th day following the completion of the Liquidity Redemption (such date, the “Transition Date”), DSO will relinquish his proxy under the Class B Shareholders Agreement and disband the Class B Shareholder Committee.
Company shall thereupon promptly proceed with the Fair Market Value procedures in Section 3.2 hereof, and the Company Determination provided for in Section 3.2(a) shall be determined within thirty (30) days (or in the case of a Refinancing Redemption or Liquidity Redemption, five (5) Business Days) after receipt of the Determination Notice.
For the avoidance of doubt, the Transition Date shall not occur unless and until the completion of the Liquidity Redemption.