Common use of Note to Draft Clause in Contracts

Note to Draft. To be a number equal to at least 25.9% of the Class A common stock held by the Silver Lake Parties immediately prior to the IPO (calculated assuming that all of the SL Parties’ Common Stock and corresponding shares of Class C common stock are exchanged for Class A common stock). Regulation Section 1.752-1(a)(2)) determined in accordance with Treasury Regulation Section 1.704-2(i)(3).

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Virtu Financial, Inc.), Limited Liability Company Agreement (Virtu Financial, Inc.)

Note to Draft. To be a number equal to at least 25.951.8% of the Class A common stock held by the Silver Lake Parties immediately prior to the IPO (calculated assuming that all of the SL Parties’ Common Stock and corresponding shares of Class C common stock are exchanged for Class A common stock). Regulation Section 1.752-1(a)(2)) determined in accordance with Treasury Regulation Section 1.704-2(i)(3).

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Virtu Financial, Inc.), Limited Liability Company Agreement (Virtu Financial, Inc.)

Note to Draft. To be a number equal to at least 25.930% of the Class A common stock held by the Silver Lake Parties immediately prior to the IPO (calculated assuming that all of the SL Parties’ Common Stock and corresponding shares of Class C common stock are exchanged for Class A common stock). Regulation Section 1.752-1(a)(2aggregate number of Common Units issued and outstanding (excluding any Unvested Common Units other than Participating Unvested Common Units)) determined in accordance with Treasury Regulation Section 1.704-2(i)(3). The sum of the outstanding Percentage Interests of all Members shall at all times equal 100%.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Virtu Financial, Inc.)