Thirty Percent Transfer definition
Thirty Percent Transfer has the meaning given to such term in the Terms of Issue.
Thirty Percent Transfer refers to a Transfer, or series of Transfers, to a Person other than a Permitted Holder by one or more Class B Members of a number of Class B Shares equal to or more than thirty (30) percent (but less than forty (40) percent) of the total voting power of all Monsoon Voting Securities. For the avoidance of doubt, any further Transfer, or series of Transfers, by any Thirty Percent Transferee of any Monsoon Voting Securities shall not constitute a Thirty Percent Transfer for purposes hereof.
Examples of Thirty Percent Transfer in a sentence
For the avoidance of doubt, any Class B Shares which remain Beneficially Owned by any Permitted Holder upon completion of any Thirty Percent Transfer, Fifteen Percent Transfer or any other Transfer that results in an Event of Automatic Conversion shall not be converted into Ordinary Shares in connection therewith or as a result thereof.
In the event that such Class B Member elects to exercise such option, it shall notify the Company in writing, which notice shall identify the Thirty Percent Transferee and describe in reasonable detail the terms of such Thirty Percent Transfer.