Common use of General Consideration Clause in Contracts

General Consideration. Subject to the terms, conditions, provisions and limitations in this Agreement, on the date of the Closing (the "Closing Date") the parties shall cause the transactions contemplated hereby to be consummated, including, but not limited to: (a) The contributions of the Contributors' Interests to BNP, free and clear of Liens other than Permitted Liens, in exchange for that aggregate number of Units determined by dividing the Contribution Price (as determined under Article III herein) by 13.50 (each Unit having a value of $13.50), with such Units being payable on the dates set forth in Section 3.1 and allocated among the Contributors as provided in Schedule A; and (b) The termination of the operating agreement of the Company so that the Company will be governed by the default provisions of the North Carolina Limited Liability Company Act.

General Consideration. Subject to the terms, conditions, provisions and limitations in this Agreement, on the date of the Closing (the "Closing Date") the parties shall cause the transactions contemplated hereby to be consummated, including, but not limited to: (a) The contributions contribution of the Contributors' Contributor's Interests to BNP, free and clear of Liens other than Permitted Liens, in exchange for that aggregate number of Units determined by dividing the Contribution Price (as determined under Article III herein) by 13.50 (each Unit having a value of $13.50), with such Units being payable to Contributor on the dates set forth in Section 3.1 and allocated among the Contributors as provided in Schedule AClosing Date; and (b) The termination of the operating agreement of the Company so that the Company will be governed by the default provisions of the North Carolina Limited Liability Company Act.