Examples of Direct Exchange in a sentence
No Redemption or Direct Exchange shall relieve such Redeeming Member of any prior breach of this Agreement.
Upon such Direct Exchange pursuant to this Section 11.03, the Corporation shall acquire the Redeemed Units and shall be treated for all purposes of this Agreement as the owner of such Units.
This Agreement shall continue notwithstanding the consummation of a Redemption or Direct Exchange and all governance or other rights set forth herein shall be exercised by the remaining Members and the Redeeming Member (to the extent of such Redeeming Member’s remaining interest in the Company).
This Agreement shall continue notwithstanding the consummation of a Direct Exchange and all governance or other rights set forth herein shall be exercised by the remaining Members and the Exchanging Member (to the extent of such Exchanging Member’s remaining interest in the Company).
The Exchange Notice shall specify the number of Class B Nonvoting Units (the “Exchanged Units”), that the Exchanging Member intends to have Pubco exchange on a one (1) for one (1) basis and a date (unless and to the extent that the Manager in its sole discretion agrees in writing to waive such time periods) on which exercise of the Direct Exchange shall be completed, which complies with the requirements set forth in Section 7.1(A) (the “Exchange Date”).