Common use of LP Interest Clause in Contracts

LP Interest. (i) As consideration in full for the sale and purchase of the LP Initial Interest, Newco will pay to the Seller an aggregate of $499,750 (the “LP Initial Purchase Price”). The LP Initial Purchase Price will be payable at the Initial Closing by the issuance by Newco to the Seller of the Series B Initial Shares (as defined below). (ii) As consideration in full for the sale and purchase of the LP Option Interest, Newco will pay to the Seller an aggregate of $750,250 (the “LP Option Purchase Price”). The LP Option Purchase Price will be payable at the Closing by the issuance by Newco to the Seller of the Series A LP Shares and the Series B Option Shares (each as defined below).”;