Initial Proceeds Clause Samples

Initial Proceeds. In the event of a Bifurcated Closing, on the Closing Date, following the receipt by CAC of the aggregate proceeds from the Sponsors (the “Initial Proceeds”): (1) CAC shall contribute, transfer, convey, assign and deliver to Growth Partners, and Growth Partners shall receive and accept from CAC, the Initial Proceeds, which shall be made by one or more wire transfers in immediately available funds to an account or accounts previously identified by Growth Partners; and (2) Growth Partners shall issue to CAC, and CAC shall receive and accept from Growth Partners, free and clear of any Liens (other than those under any Ancillary Agreements), a total number of Class A Voting Units representing an aggregate economic interest in Growth Partners equal to the Initial CAC Percentage Interest, in consideration for the contribution by CAC to Growth Partners of the Initial Proceeds as set forth above.