Permitted Unit definition
Examples of Permitted Unit in a sentence
Such transfer, if accomplished in accordance with the foregoing, shall also be a "Permitted Unit Transfer" and JSI shall also be a "Permitted Transferee", provided that (i) PCS Holdings must be provided with prompt written notice of such transfer, and (ii) JSI must execute a receipt and acknowledgement letter as contemplated in Section 7J.(iv) above, in form and substance reasonably satisfactory to PCS Holdings and its counsel.
The parties hereto acknowledge and agree that Attachment A to this Agreement shall be updated as soon as practicable after the expiration of the Permitted Unit Transfer Period, and again immediately prior to the Closing, to appropriately evidence the correct ownership of Units and the appropriate disposition thereof pursuant to the terms and conditions of this Agreement.
For the purpose of this Section 7, a Permitted Unit Transferee is a Permitted Assignee and considered an indirect member of an Indemnified Party.
The Borrower shall use the proceeds of all Loans (a) to fund the Permitted Unit Repurchase, (b) for general business purposes of the Borrower including, without limitation, working capital, purchases of equity securities, including ETP partnership units, and other permitted purchases and acquisitions and (c) to pay fees and expenses in connection with this Agreement and the other Loan Documents.