Transferred LLC Interest definition
Examples of Transferred LLC Interest in a sentence
As to the Private Owner, the initial Capital Account shall correspond to that portion of the Capital Account of the Initial Member that is attributable to the Transferred LLC Interest (as defined in the Transferred LLC Interest Sale Agreement) acquired by the Private Owner pursuant to the Transferred LLC Interest Sale Agreement.
If for any reason, without fault of the Initial Member, the Private Owner fails to consummate the purchase of the Transferred LLC Interest, upon the terms and conditions set forth in this Agreement, the Initial Member’s liquidated damages, and sole and exclusive remedy, shall be to retain the ▇▇▇▇▇▇▇ Money Deposit.
In connection with the Transferred LLC Interest Sale Agreement, Private Owner acquired from the Initial Member the Transferred LLC Interest representing a forty percent (40)% equity interest in the Company in exchange for the Transferred LLC Interest Sale Price.
The Special Payments Account and the Collection Account constitute the “Trust Accounts” hereunder.
Such Member hereby acknowledges that, except as is otherwise expressly provided in this Agreement, the Transferred LLC Interest Sale Agreement, or the Contribution Agreement, none of the Initial Member or the FDIC or any Affiliate of either, or any of their respective officers, directors, employees, agents or contractors, makes or has made any representation or warranty regarding the Company, the LLC Interest or the Loans or the value of any Underlying Collateral.
In connection with the Transferred LLC Interest Sale Agreement, Private Owner acquired from the Initial Member the Transferred LLC Interest representing a forty percent (40%) equity interest in the Company in exchange for the Transferred LLC Interest Sale Price.
Capitalized terms used herein without definition are used as defined in the Transferred LLC Interest Sale Agreement.
Capitalized terms used, and not otherwise defined, in this Transferee Acknowledgement and Certification have the meanings given in the Transferred LLC Interest Sale Agreement.
As to the Private Owner, the initial Capital Account shall correspond to that portion of the Capital Account of the Initial Member that is attributable to the Transferred LLC Interest acquired by the Private Owner pursuant to the Transferred LLC Interest Sale Agreement, together with the Private Owner WCR Account Deposit made pursuant to the Transferred LLC Interest Sale Agreement.
On the Closing Date, the Initial Member and the Private Owner shall fund the Working Capital Reserve in an initial principal amount of the WCR Account Deposit as follows: the Initial Member shall deposit cash in the amount of the Initial Member WCR Account Deposit, and the Private Owner shall deposit cash in the amount of the Private Owner WCR Account Deposit, which deposits shall be made in accordance with the applicable provisions of the Transferred LLC Interest Sale Agreement.