Examples of Series B Member Representative in a sentence
Any Dispute concerning such advice shall be subject to Section 7.09; provided, however, that only the Series B Member Representative shall have the right to object to such advice pursuant to this Section 6.02.
Within five (5) Business Days of a Tax Benefit Schedule that was delivered to Series B Member Representative becoming final in accordance with Section 2.03(a), HII shall pay to the Applicable Series B Members the applicable Tax Benefit Payment determined pursuant to Section 3.01(b).
The applicable Schedule shall become final and binding on all parties unless the Applicable Series B Member, within 30 calendar days after an Exchange Basis Schedule or amendment thereto or a Tax Benefit Schedule or amendment thereto was provided to the Series B Member Representative, provides HII with notice of a material objection to such Schedule (“Objection Notice”) made in good faith.
If the Series B Member Representative provides HII with written notice of its objection to the calculation of the Early Termination Payment, and the Series B Member Representative and HII, for any reason, cannot agree upon the amount of the Early Termination Payment within 30 calendar days following HII’s receipt of the Series B Member Representative’s objection, HII and the Series B Member Representative shall employ the Reconciliation Procedures as described in Section 7.09 of this Agreement.
The Expert shall be a partner in a nationally recognized accounting firm or a law firm (other than the Advisory Firm), and the Expert shall not, and the firm that employs the Expert shall not, unless otherwise agreed by HII and the Series B Member Representative, have any material relationship with either HII or the Series B Member Representative.
HII shall not settle or fail to contest any issue pertaining to taxes that is reasonably expected to affect the Series B Members’ rights and obligations under this Agreement without the consent of the Series B Member Representative, such consent not to be unreasonably withheld or delayed.
On no more than a quarterly basis, HII agrees to confirm, at the request of the Series B Member Representative, the Market Value of the applicable Class A Shares with respect to any Exchanges in the prior calendar quarter.
If HII exercises its right of early termination under Section 4.01, HII shall deliver to the Series B Member Representative notice of such intention to exercise such right (“Early Termination Notice”) and a schedule (the “Early Termination Schedule”) specifying HII’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment, and the Series B Member Representative shall promptly provide such notice and schedule to each Series B Member.
The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.09 shall be (i) final and may be enforced as if it were the award of an arbitrator issued under and pursuant to the rules of the American Arbitration Association and (ii) binding on HII and the Series B Member Representative and may be entered and enforced in any court having competent jurisdiction.
In the event that this reconciliation provision is utilized, the fees of the Expert shall be paid in proportion to the manner in which the dispute is resolved, such that, for example, if the entire dispute is resolved in favor of HII, the Series B Member Representative shall pay all of the fees, or if the items in dispute are resolved 50% in favor of HII and 50% in favor of the applicable Series B Member, each of HII and the Series B Member Representative shall pay 50% of the fees of the Expert.