Liquidity Event Defined Sample Clauses
The 'Liquidity Event Defined' clause establishes what constitutes a liquidity event within the context of the agreement. Typically, this includes occurrences such as the sale of the company, a merger, or an initial public offering, which result in the conversion of equity or the distribution of proceeds to stakeholders. By clearly outlining these triggering events, the clause ensures all parties understand when certain rights or obligations, such as payouts or conversions, become effective, thereby reducing ambiguity and potential disputes.
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Liquidity Event Defined. A "Liquidity Event" means the closing of an extraordinary transaction such as a sale of all or substantially all of the Company's assets, a merger of the Company with another company, the acquisition of the Company by another company, the sale of a controlling interest in the voting stock of the Company, or the entry of the Company into a similar business combination or extraordinary transaction with another entity or person.
Liquidity Event Defined. For purposes of this Agreement, a “Liquidity Event” as to a respective Portfolio Company means the receipt by the Fund of a material amount of cash or non-cash assets, including publicly traded securities, in respect of the applicable Portfolio Company Securities held by the Fund. A Liquidity Event for a respective Portfolio Company shall be deemed to occur upon the earliest of (a) the effectiveness of a registration statement filed by the Portfolio Company with the SEC on Form S-1 with respect to shares of such Portfolio Company held by the Fund, after any applicable lock-up period; (b) a Merger Event (as defined in the Memorandum); (c) the bankruptcy, liquidation or dissolution of the Portfolio Company; or (d) upon the Manager, in its discretion, determining the Portfolio Company Securities are freely transferrable, each as of the date that such consideration is received or such determination or transferability is made.