Seventh Anniversary definition
Examples of Seventh Anniversary in a sentence
The right to exercise this Warrant will expire at 5:00 P.M., New York time, on [the Seventh Anniversary of the Closing Date].
For purposes hereof, the “Determining Member” shall mean the Ryman Member, except that the Investor Member shall be the “Determining Member” if the Investor Member delivers written notice after the Seventh Anniversary requesting that the Company effect an IPO pursuant to Section 13.5(b), and the “Consulting Member” shall be the Investor Member if the Ryman Member is the Determining Member or the Ryman Member if the Investor Member is the Determining Member.
The Seven-Year Put Right and the IPO Request Put Right are, collectively, the “Investor Put Rights.” Upon the closing of a Qualified IPO, Sale of the Company or a Qualified Spinoff before the Seventh Anniversary, this Section 13.14 and the Seven-Year Put Right will immediately terminate.
Rights with respect to the Minimum Investor Stake Value and the IPO Shortfall will not apply under any circumstances with respect to any IPO that is effected after the Seventh Anniversary (but shall continue to apply in accordance with its terms with respect to any IPO effected prior to the Seventh Anniversary).
The Company may redeem any Class 1 Units that have been validly put to the Company in accordance with Section 5 herein at any time after the Board of Managers has held the meeting required by Section 5.6 herein and has determined to continue the Company’s operations beyond the Seventh Anniversary Date (herein, “Early Redemptions”).
The Effective Date of the disengagement shall be the date specified in the written notice (which shall be either the Second Anniversary or the Seventh Anniversary).
Each Common Unit Holder owning Common Units as of the Fifth Anniversary Date (the "PUT RIGHT RECORD DATE") will have the right (the "PUT RIGHT") to require the Company to redeem some or all such Member's Common Units for the Exercise Price (defined below) on the Seventh Anniversary Date.
Upon a Qualified IPO that closes on or before the Seventh Anniversary, if the Post IPO Investor Stake Value at the Settlement Date does not equal or exceed the Minimum Investor Stake Value, then the Investor Member shall be entitled to a one-time payment equal to the IPO Shortfall.
If a sufficient number of holders of Class 1 Units exercise their Put Rights, the continued operation of the Company beyond the Seventh Anniversary Date may not be reasonably feasible.
Within forty five (45) calendar days following the end of each of the first three (3) calendar quarters of every calendar year prior to the Seventh Anniversary, Guarantor shall cause ALM to prepare and deliver to PARIS RE a written statement setting forth the Developed Experience (including by entity and by currency) as of the end of such quarter.