Other Liquidity Event definition
Examples of Other Liquidity Event in a sentence
In addition, at the time of termination, the Advisor may elect to defer its right to receive a Subordinated Termination Fee until either a Listing or an Other Liquidity Event occurs.
Notwithstanding the occurrence of a Listing Event, Termination Event or Other Liquidity Event, the Advisor shall be entitled to the same rights as a Limited Partner under this Section 9 with respect to any Fiscal Year during which any amounts are due and owing to the Advisor under this Agreement either by the Partnership or the General Partner.
Upon a termination for Cause, the deferred Asset Management Fees, will remain an obligation of the Company and will continue to accrue interest, and will be paid upon a later liquidation or Other Liquidity Event if the conditions, for the payment, at that time, as described above in this Section 9(d) are met.
Such deferred fees and interest accrued thereon would be payable upon a liquidation or Other Liquidity Event as set forth in Section 9.
In addition, the Advisor may elect to defer its right to receive a Subordinated Termination Fee until either a Listing or an Other Liquidity Event occurs.
Payment of the Acquisition Fee to the Advisor will be deferred until the occurrence of (i) a liquidation event (i.e., any voluntary or involuntary liquidation or dissolution of the Company, including as a result of the sale of all or substantially all of our assets for cash or other consideration), (ii) an Other Liquidity Event or (iii) the termination (not in connection with one of the preceding events) of the advisory agreement, other than for Cause, or the non-renewal of this Agreement.
Payment of the Disposition Fee to the Advisor will be deferred until the occurrence of (i) a liquidation event, (ii) an Other Liquidity Event, or (iii) the termination of the Agreement (not in connection with one of the preceding events), other than for Cause, or non-renewal of this Agreement.
Upon an Other Liquidity Event, if the deemed liquidation value of the Company exceeds the Liquidation Preference payable to the holders of K-I Shares, K Shares, K-T Shares and any Parity Security, the Advisor will receive consideration equal to all of the deferred Asset Management fees, plus all interest accrued thereon.
Upon the occurrence of (i) the exercise of the Class B Redemption Right, (ii) the exercise of the Partnership Call Right, or (iii) an Other Liquidity Event, the Class B Interest shall be redeemed for a newly created class of Partnership Interest (the “Advisor Redemption Interest”).
In connection with the Partnership Call Right or an Other Liquidity Event, the General Partner shall send notice of redemption to the Class B Partner and, in connection with a Class B Redemption Right, the Class B Partner shall send a Notice of Redemption to the Partnership (with a copy to the General Partner).