Examples of Sponsor Subordinated Units in a sentence
Except as otherwise provided in this Agreement, Xxxxx (and any Transferee Entity) agrees he will not transfer his Sponsor Common Units or Sponsor Subordinated Units without the express written consent of Reserves, which consent may be withheld in Reserve’s sole and absolute discretion.
If Reserves receives at any time an offer, whether or not solicited, for the purchase or exchange of any of its Sponsor Common or Sponsor Subordinated Units which it proposes to accept, then Xxxxx or the Transferee Entity (as the case may be) shall have the right to participate in the transaction on the same terms and conditions as Reserves proposes to accept and sell an identical pro rata percentage of his/its Sponsor Common and Sponsor Subordinated Units as Reserves proposes to transfer.
As consideration for such interests, the Partnership shall issue the Sponsor Subordinated Units and the Incentive Distribution Rights to CEG.
As consideration for the Reserves Contribution, the Partnership shall issue the Sponsor Common Units, the Sponsor Subordinated Units and the Incentive Distribution Rights to WPT.
Xxxxx or the Transferee Entity (as the case may be) shall be entitled to sell, transfer or otherwise dispose of in public markets up to twenty five percent of his/its Sponsor Common and Sponsor Subordinated Units on or after December 31, 2015, and Xxxxx or the Transferee Entity (as the case may be) shall be entitled to sell, transfer or otherwise dispose of in public markets up to one hundred percent (100%) of his/its Sponsor Common and Sponsor Subordinated Units on or after December 31, 2019.