Common use of Exchange Taxes Clause in Contracts

Exchange Taxes. The issuance of Class A Shares upon an Exchange (or Direct Exchange, as applicable) shall be made without charge to the Exchanging Partner for any stamp or other similar tax in respect of such issuance; provided, however, that if any such Class A Shares are to be issued in a name other than that of the Exchanging Partner (subject to the restrictions in Article X), then the Person or Persons in whose name the shares are to be issued shall pay to the Special Limited Partner the amount of any additional tax that may be payable in respect of any Transfer involved in such issuance in excess of the amount otherwise due if such shares were issued in the name of the Exchanging Partner or shall establish to the satisfaction of the Special Limited Partner that such additional tax has been paid or is not payable.

Appears in 3 contracts

Samples: Business Combination Agreement (dMY Technology Group, Inc.), Business Combination Agreement (dMY Technology Group, Inc.), Rush Street Interactive, Inc.

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Exchange Taxes. The issuance of Class A Shares upon an Exchange (or Direct Exchange, as applicable) shall be made without charge to the Exchanging Partner Member for any stamp or other similar tax in respect of such issuance; provided, however, that if any such Class A Shares are to be issued in a name other than that of the Exchanging Partner Member (subject to the restrictions in Article XXI), then the Person or Persons in whose name the shares are to be issued shall pay to the Special Limited Partner Managing Member the amount of any additional tax that may be payable in respect of any Transfer involved in such issuance in excess of the amount otherwise due if such shares were issued in the name of the Exchanging Partner Member or shall establish to the satisfaction of the Special Limited Partner Managing Member that such additional tax has been paid or is not payable.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (OppFi Inc.), Business Combination Agreement (FG New America Acquisition Corp.)

Exchange Taxes. The issuance of Class A Shares upon an Exchange (or Direct Exchange, as applicable) shall be made without charge to the Exchanging Partner Member for any stamp or other similar tax in respect of such issuance; provided, however, that if any such Class A Shares are to be issued in a name other than that of the Exchanging Partner Member (subject to the restrictions in Article XXI), then the Person or Persons in whose name the shares are to be issued shall pay to the Special Limited Partner PubCo the amount of any additional tax that may be payable in respect of any Transfer involved in such issuance in excess of the amount otherwise due if such shares were issued in the name of the Exchanging Partner Member or shall establish to the satisfaction of the Special Limited Partner PubCo that such additional tax has been paid or is not payable.

Appears in 1 contract

Samples: Operating Agreement (Biote Corp.)

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Exchange Taxes. The issuance of Class A Shares upon an a Stock Exchange (or Direct Exchange, as applicable) Payment shall be made without charge to the Exchanging Partner Member for any transfer, stamp or other similar tax or duty in respect of or in connection with such issuanceExchange; provided, however, that if any such Class A Shares are to be issued in a name other than that of the Exchanging Partner Member (subject to the restrictions in Article XXI), then the Person or Persons in whose name the shares are to be issued shall pay to the Special Limited Partner Managing Member the amount of any additional tax that may be payable in respect of any Transfer involved in such issuance in excess of the amount otherwise due if such shares were issued in the name of the Exchanging Partner Member or shall establish to the reasonable satisfaction of the Special Limited Partner Managing Member that such additional tax has been paid or is not payable.

Appears in 1 contract

Samples: Letter Agreement (FTAC Athena Acquisition Corp.)

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